manuseijas82

manuseijas82

A few days ago price was held within an ascending wedge. Then price broke out of the trendline causing an intense bearish move. Price is now in a correction phase, currently rejecting higher prices due to resistance zone that used to be a well-respected support. I'm not a big fan of Fibonacci levels, but for those of you who use it, price is currently rejecting...

manuseijas82

Hello guys, here are 4 factors that make me think this pair could go down - Price has been respecting descending trendline as a resistance - Formation of an ascending wedge - 38.2 % fib in sync with with trendline resistance - Double top (M30) in game - Possible short position down to base of the wedge, then price could struggle to break through these levels,...

manuseijas82

- Price has been supported for a trendline since last December -Broke out to the down side - Now retesting - Pin bar in the H4 rejecting area of resistance (there's also a candle in the daily chart rejecting this area) - Waiting for confirmation (e.g. bearish engulfing candle) - Posible target to previous area of buyers What do you think?

manuseijas82 Updated 

-Price has been supported by an ascending trendline formed back in February -Price has compressed into these 2 sensitivity areas (blue rectangles) -Possible formation of a Double Top -Price has been rejecting upper zones -Waiting for confirmation (pin bar or bearish engulfing candle) in order to go SHORT -Could have the potential to break off the trendline (with...

manuseijas82

Price has been supported by a trendline formed on April in the 4h chart. Now has broken this trendline, and retesting previous area of sensitivity. I'll wait for a confirmation. Could be a large pin bar or a bearish engulfing candle in order to go SHORT. What's your view of this?