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GBP is still trading nearby this zone. I feel that price possible can break it and back to I believe that price will break it new sz and will fall more. I see next Personally I believe the respect from this supply is suspicious. I get the sense that this is a sell lure for a trap. The reason for this is because of the basic smart money mitigation and the lack of interest from the key psychological number.
I get the impression that price will not hold this supply and for that reason I will be considering a buy position to In this example, we can see a very clear 2 reversal pattern that worked out very well in the past. From the actual price, the price can increase more and it can reach the first two potential bullish Price has trapped sellers with the false breakout of the head and shoulders. Since we have already swept a strong area of support to the left, I believe price may want to react at one of these major demands for buyers.
I have my alerts set and will take a buy trade with the team IF criteria is met. Traders, if you have your own opinion about this idea, write in The Double Top initiated the first wave down, where all candles got contained above the 1D MA50 blue trend-line causing a 0. Now the formation may see the second wave down. If the Support Zone breaks, we expect a 1D Higher lows are perfectly respecting a rising trend line on a daily.
After setting a new high, the price retraced to a trend line again. Pay close attention to a horizontal trading range on 4H. Wait for a bullish breakout of its 1. There is no reason USD-CAD has retested a horizontal resistance level And now we are seeing a bearish pullback I think that the move down will continue And the pair will likely retest the level below Sell!
Like, comment and subscribe to boost your trading! See other ideas below too! How long does it take to become consistently profitable as a trader? This is one of the most searched questions in the Internet when it comes to trading and the beauty is there's no right answer.
When you do receive an answer, it's miss leading to beginners and everyone gets confused. There's a solid chance that you've looked at this before, or perhaps you just Most XXXJPY pairs are well overdue a correction, this does not mean they will turn bearish, it simply means a correction is needed to gather more liquidity before shooting off again.
Ideally, I would like to locate sells from the daily established supply. However, I won't rule out the possibility of a final liquidity sweep above the high before sellers Happy Tuesday, traders! As we approach an important psychological level of 1. We're expecting a double top formation within our resistance box and a further drop potentially even to 1. As the trade continues to develop, we All we need for completion of this mountain system is a "Right Shoulder".
The price is trading inside a channel. A good opportinity to go long with a low risk is to buy the cluster of support and the rising channel. Trade safe, Trader Leo. After massive moves, the price action always creates a consolidation. Thanks for your support!
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