We have a triangular formation on EURJPY on the daily, the price almost tested its upper line and formed a twiser top on the 4H chart.
GBPNZD may form a short setup if current 4H candle closes as an engulfing bearish bar. We are in a downtrend on larger TFs, which is too steep though.
Daily chart is showing a retracement to test the broken up trend line also we have a test of the current down trend line at the fib 618. Wait on a reversal candle formation on the daily/4H then look for entries on lower time frames.
My 4H chart finally showed a bearish engulfing bar at the test of a down TL. Gonna enter slightly higher than the close of that bar.
Market is at a possible reversal point on the daily. Its testing the broken trend line and also the current down trend line at fibs 786.
Possible crown/H&S formation on 30m chart. Entry after evening star formation.
Some more fine trades Damion, this style of trading is by far the best out there - why more people don’t take the time to learn how to trade like this I don’t know! (and perhaps that is the answer - it takes time…)
Edit - LOL, just realised this trade didnt work out, however it doesn’t detract from what I said - can’t win 'em all!!
Daily chart showing a test of the broken up trend line at the fibs 618 followed by a bearish engulfing candle formed last week. We might a see a further pull back throughout this week. Look for short opportunities on lower time frames.
A possible turnaround here as the daily is showing reversal candle formation at past support which is now resistance. Its also at fib. extension 161, a completion of a second wave up. The 1H chart already crowned/HS which is a strong reversal pattern.
This pair has formed a reversal candle formation at critical resistance shown on the daily chart, also its at the fib. extension 161 from the last wave up. Its possible we might see a retrace down to the up trend line. Look for short entries on smaller time frames.
Engulfing bullish formation after the retrace to the up trend line which is also at the fibs. 618. Look for long entries on lower time frames.
Similar setup on usdchf to go short.
H&S formation on the 1H formed after a break and test of the broken up trend line. Entry at the right tip after the engulfing bearish formation.
AUDUSD still looks “expensive” to me. The sellers pushed it back down. I would wait for it to go “on sale” before I buy.
The market has retrace to test the outer trend line followed by a number of indecision candles on the daily, todays engulfing bar completes a morning star which might well be the start of a bullish run. A break of the counter down trend line will increase the chances of a bullish rally. Look for long entries on smaller time frames.
4H chart is showing a break and test of the counter up trend line. Entered short after the evening star formation on the 4H. Note also the daily trend is down…
Morning star formation on the daily chart at the test of the up trend line. Look for long entries on smaller time frames.