Awesome buddy I’m watching! Got my own thread going too.
GBPUSD
The follow up!
I’ve been posting these but ins all the way from the bottom of the range at 1.22000
The last breakout saw us gain a reasonable amount of pips and now price is testing a new ceiling. My previous trades are closed out and we will now likely see a retracment to support. However momentum may be strong enough to push through its next ceiling by this week so I will be watching closely in the event of another breakout. Of it retraces I will be taking buy positions back at 1.29700 if we get that far.
On completion of the complex head and shoulder this pair finds support and in looking at low risk long term potential buys from this point. Observing price action after the psychological rejection of whole level 1.09000 I’m looking for establishment of higher highs and lows to enter.
I would definitely wait for it to breach resistance on this long term descending wedge pattern before buying though. I’ll be looking at a long term short if it bounces.
EUR/USD - Well this strong uptrend has been fun to trade
looks like it might be tipping to the sells though I’m still holding onto a buy, might jump ship
Anyone have any ideas to counter the uptrend? How you all trading it?
u got agressive selling with low volume at the bottom, then a fake break of 61.8 fib and selloff, with not much vol to be honest, meaning it didn t took much effort from the bears to send it down since buyers are scarse. and now it s going down on low volume, there s very little buying going on. atleast that s how i see things. untill some nice volume shows up stopping the down move, sells only for me
weekly pinbar, daily fake break of that upthrust that was on high vol compared to recent background(heavy selling in my opinion).plus top of the weekly channel, previous daily resistance and we have almost a nice bearish close below the previous day s open.
4hr bearish divergence and 1hr break of th channel, effort to rise followed by a bearish engulfing closing at the lows, i d wait for a pullback to a smaller(fractal) fib and short it(ofc unless something changes. the pic for EU looking very bearish/.
cheers and happy new year all
let s see where that 4hr candle closes. as for the 1hr chart there s some buying in there for sure, but everytime they try to push higher it s getting squashed back down, and this last candle closed lower then the previous open. which might indicate a no demand if this 1 confirms by closing lower, then i might expect a run back down to those lows again. still the volume that s showing up of the lows not convincing to go long just yet, atleast imo. judging from weekly and daily i m still bearish unless something changes, i guess i ll have to see how this weekly candle gonna close and the volume that goes with it, but so far i m seeing weakness which most of the times screams lower prices to come(most of the times, not all the time).
update 4hr and 1hr candle closed at the lows with a nice volume increase. unless we have some major vol causing a pin with a bullish reaction i wouldn t go long, only shorts for now
EUR/USD 28/01/2020 - Think we’re looking positive for the bulls.
My trend lines are off on the chart but looks like we’re at bottom of trend looking for buy opportunities.
EUR news, specifically German, has been positive though looks like a slow burner going buy the technicals.
Trade agreement between US and China putting pressure against EUR though think the US and China trade deal is not as good as markets showing long term and pandemic outbreak in China should be showing in markets.
How you guys trading? Think there might be sells coming up instead?