Had a nice retest of the ascending TL which has a LQP 75.000 confluence. Nice bounce off the TL, huge bullish engulfing candle. Will have to wait to see how the market opens to see if bulls are able to keep their momentum.
EURAUD: Rejected At Previous High. Time For A Correction?
Plan A: Looking for a pull back to retest the LQP 1.6250 which also has a 71 fib confluence. This would start the right shoulder of a possible inv H&S.
Plan B: Price could push up to retest the LQP 1.6500 before retracing.
EURNZD: Rejected At Previous High. Time For A Correction?
Setup is same as EA
Plan A: Looking for a pull back to retest the SQP 1.73750 which also has a 61.8 fib confluence. This would start the right shoulder of a possible inv H&S.
Plan B: Price could push up to retest the SQP 1.76250 before retracing.
GBPJPY: 61.8 Retracement. Time To Buy?
Nice retracement to the 61.8 which has a LQP 135.00 confluence. Will be looking to go long.
GBPCAD: Inverted H&S. Buy After The Retest
As you can see price has broken the neckline. Look to buy after the retest.
AUDNZD: Bullish Flag
Don’t really care for this pair but it has a perfect MM pattern playing out. Wait for the breakout.
AUDUSD: Bullish Flag
Plan A: Wait for the breakout
Plan B: Look for a small retracement back to the 61.8 which would give you the 3rd touch of the ascending TL.
GBPUSD: Double Top, Bearish Divergence
Expecting a pull back to retest broken resistance, looking for a 61.8 retracement. Overall trend is still bullish so be cautious. Price is also trading in the middle of the daily ascending channel, another reason to be cautious.
GBPAUD: Daily Descending Channel
Still trading within the daily dsecending channel. I think a big reversal is coming soon. The question is when? I’m expecting one more drop to retest the LQP 1.77500 or to retest weekly support.
