Price Action - CTA + Trader Psychology

Quoting pipibrasci

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{quote} GBPUSD H4 Update "Target 2" taken out as well. Noticeable key D1 fib rert. levels 76.4 and 61.8. "Target 1"/61.8 fib (resistance) in sight in the short term as price breaks and should it close above trendline. Some breather for the pound hopefully. The D1 Tf shows a 3bar pattern bouncing off a major support Zone. {image}

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Quoting pipibrasci

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{quote} GBPUSD H4 Update "Target 2" taken out as well. Noticeable key D1 fib rert. levels 76.4 and 61.8. "Target 1"/61.8 fib (resistance) in sight in the short term as price breaks and should it close above trendline. Some breather for the pound hopefully. The D1 Tf shows a 3bar pattern bouncing off a major support Zone. {image}

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Quoting pipibrasci

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{quote} EURJPY H4 and it POPPED! {image}

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Quoting pipibrasci

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The European currencies (GBP, CHF, EUR) waiting on the Japanese Yen to unleash its fury on them should the USD provoke the Yen and hit 150 once more. Signs are obvious. Till then. {image}

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Quoting pipibrasci

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AUDJPY H4 ~ QUASIMODO What a miss on quality entry on this pair, Leg 5 take off. Should expect some kind of pull back to zone X for a continuation move to PO. PO 1 looks realistic in the short term. Roughly +80pips to 160pips {image}

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Quoting pipibrasci

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{quote} EURJPY H12/H2 ~ EVENING STAR/ Potential H & S {image} {image}

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Quoting pipibrasci

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{quote} EURJPY H12/H2 ~ EVENING STAR/ Potential H & S {image} {image}

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Quoting pipibrasci

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AUDJPY H4 ~ QUASIMODO What a miss on quality entry on this pair, Leg 5 take off. Should expect some kind of pull back to zone X for a continuation move to PO. PO 1 looks realistic in the short term. Roughly +80pips to 160pips {image}

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Quoting pipibrasci

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EURUSD D1/H4 D1 ~ 3Bar pattern (Strong momentum red bar rejection from 38.2% Daily fib ret.) Bearish H4 ~ H & S + DBW pattern + Range (giving a mixed reaction all together; H&S DT continuation; DBW signals reversal) Sentiment (post 389) says mixed.
H4 Short term intra-day outlook (Possible Scenarios)
1. Break & close above RS invalidates H&S pattern and signals a reversal could be it. Then look forward to PO for DBW.
2. Otherwise H & S would remain valid with PO coinciding with 50% Daily fib ret. level. but could...

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Quoting pipibrasci

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{quote} **EURUSD H4 Update Scenario 1 & 3 playing out 1. Break and close above Right Shoulder (RS) of previous H & S as it forms a new support. Now looks like we have a new inverted H & S with PO coinciding with fib 38.2% fib ret level as well as upper DBW TL.(confluence). Resistance just above it. 3. LL-HH-HL-HH? {image} {image} {image}

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Quoting pipibrasci

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{quote} GBPUSD H4 Update "Target 1"/61.8 fib (resistance) met. From start (possible scenarios) to finish https://www.forexfactory.com/thread/...8#post14594268 {image} {image}

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Quoting pipibrasci

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{quote} GBPUSD H4 ~ Possible Quasimodo + Rectangle Breakout. Price respecting the D1 76.4% & 61.8 fib retracement levels. Likely to continue to range for a while and seems we have a Quasimodo setup (half way gone I think) and a rectangle breakout setup with both PO/targets aiming at 61.8fib level short term. {image}

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Quoting pipibrasci

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{quote} EURUSD H4 Update DBW + Rectangle Breakout with next PO EUR/GBP currencies are strongly correlated for now. {image}

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Quoting pipibrasci

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{quote} EURUSD H4 Update + Possible scenario.(short term) {image}

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