The pair has just broken down from a continuation head and shoulder pattern on the hourly timeframe. Kiwi definitely looks like it is the strongest currency right now against the us dollar. Expect this breakdown to lead the pair much lower to the previous daily supports.
On the 1 day candle we could see a possible formation of head and shoulder forming, as we can see from the chart the pattern has not been completed but it sure seems to head in that direction (my speculation). If that happens, the price will likely have a minor pull back before it starts an uptrend.
On the monthly timeframe price has accumulated on a demand area,the market has moved into a higher timeframe oderblock(which is a strong demand zone)
Prior to that price has shown a significant shift in market on lower time frames meaning the market will seek to take out liquidity to the upside
Hello Guys i had fins this trade and done analysis on it its making double top in 1h timeframe and trying to resistance at upper trendline if the trendline break which i had drawn we can get a good opportunity to sell with sl at resistance and target at lower channel if this trade break trendline i will notify on this chart thank you if you like my analysis plzz...
Aggressive entry Confluences:
1. Strong 4hourly, daily uptrend
2. 0.618 fib level (Golden Fib level)
3. Filled of imbalance
4. Many wicks of rejection at 0.618 level showing as strong support.
Conservative Entry Confluences:
1. wait for the break of the zone and retest.
2. Entering at retest will ensure you with a higher probability of winning
Trading Plan:
1....
1.056 has acted as a good support for the currency pair, but it went a little below the support line bus is now retracing back in inverted head and shoulder pattern..
good to go long above 1.057 after 2 hour close above the entry point. for good 100 pips.. wait for the entry level
sl: 1.0510
The pair has been trading in a falling channel pattern. Traders are suggested to go short at current prices with the target of 1.0475. After a success in this, the traders can grab the buy opportunity with same pattern as most likely the pair will rebound from lower trend line and move towards upper trend line of the channel.
If YPP (P) 1.08720 functions as a support line, think long.
The first limit is WePP (R1) 1.09559
The second limit is 1.10000
I would be grateful if you like it idea,give me follow or agrees!
------------------------- --------------------------
Brown thick line: Yearly Pivot Points (YPP in the text)
Light blue thick line: Monthly Pivot Points (MPP in the...
