Quasimodo Level after MACD Divergence and Pinbar Pattern in GBP/JPY
Today, this GBP/JPY pair is in a downtrend of almost 1000 pips and is still considered bearish.
Yesterday’s 1D chart, the candle has ended as a Pinbar pattern. The Pinbar candlestick pattern is a reversal pattern and is a very reliable pattern to use amongst forex traders.
In this 1D chart,...
Trend Analysis For GBP/USD, Monday 03/06/2019
As we can see in the M30 chart, the GBP/USD has just developed a bullish momentum. In the higher time frame, the price is still bearish.
Below us, there is a new fresh demand level which is also a Quasimodo level. A Quasimodo pattern is a situation where the price changing momentum with one strong movement.
As we can...
Looking at the lower timeframes, bitcoin looking pretty toppy, consisting of a high - low - higher high - lower low and then a test of the original high. Very unlikely we will break $6200 first time around, be realistic. Expecting to test the lower untested levels around $4.2k. Not financial advice
On the chart above, we have an unfolding pattern , my recent new favourite pattern called the Quasimodo Pattern.
Reasons For Entry :
- Currently Trending About The Demand Zone
- Local Low Broken
- Lower Low Forming
Wait for the breakout off the Resistance for the Lower Highs of the current bearish skewed rectangular trend then enter to BUY towards the QML area...
Good day risk takers,https://www.tradingview.com/x/Ro5Wz4kJ/
The Market has been in an intermediate down trend since early April 2018, for the first two months of the downtrend it had a strong momentum. Market then started to run out of steam but slowly pushing down until entering an 11 month channel with occasional fake outs to trap sellers and buyers. In...
For the long terms, we can see that the Spx500 index is bearish, we can see that clearly on a weekly chart, the last drop from Friday is a reaction to the Weekly Quasimodo level that I mention in my post from the 14/03/19 on SPX500,
For those who didn't sell at the first touch of the price in that weekly level, the price might give another chance after creates...
For the long term traders, I marked the supply above as a great Quasimodo level for sell position, the situation of high, low, higher high, and then lower low Creates the Quasimodo pattern which considers as a very reliable pattern, I'll sell at the supply level above and my target will be the last low.
As we can see in the attached picture, the DAX index drop down from the last high and create a lower low in one movement, that drop created a new fresh supply above which is the Quasimodo level, I'll wait for the price to return back that supply and I'll sell there, my target for this swing position will be the demand below,
The supply level above us is also Quasimodo level, Quasimodo consider as a very reliable pattern, usually, Quasimodo level creates a great Risk Reward ratio, the supply above has Broke out the last low of the bullish momentum that was before, the price did it in a very sharp and fast drop and in one movement which creates the Quasimodo level, I'll wait for the...
As a price action forex trader, Quasimodo pattern is one of my favorites, it's a very reliable pattern, and usually, this pattern opportunity create a great risk-reward ratio position, in That case, the supply above is a great Quasimodo level, the price changed the momentum from bullish to bearish with a one strong down movement, if the price retrace to that...
For the short terms, the GBPJPY has just changed his momentum to bullish.
The price did it with a pattern called Quasimodo, the demand below is the Quasimodo level and it's a great one for buy position, the target for this position will be the supply above, Which is also a great level for sell position, From all patterns, Quasimodo consider as one of the most...
Those are the next key level to look for a swing position on GOLD.
The demand below is a great level for buy position, the pattern looks
Like a Quasimodo level, if the price retrace that demand I'll buy there,
My target will be the supply above which is also a great level of sell position.