Here, i'm testing our a strategy with the fib retracement
Broke the resistance zone and looking to have a uptrend after consolidation.
Hope this helps, use
Pair AUDGBP - I keep my graph simple and easy to read.
4Hr chart tells us alot about whats happening. It looks as thou prices is consolidating in the area which the line is drawn. Triangle formation looking to unfold.
Will wait for breakout before placing any trades as yet.
Good luck.
Here, we have strong momentum of an upward trend. However, it looks like it has reached it peak and sellers is starting to make entry in the market. On the 1 hour chart a strong bearish candle is formed which engulf the bears showing promising signs a positive short selling.
Reckoning that price will reached at zone 1.22147.
Good luck and happy trading.
