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EURUSD, GBPUSD H4 charts bearish expansion confluence with patterns

It was clear from previous reports here and here that we are still looking for bearish continuation moves in EURUSD and GBPUSD based on higher time frame. Overnight EURUSD and GBPUSD appear to agree with converging signals in H4.

EURUSD 1-2-3-4 bearish signal with bearish expansion day close

EURUSD H4 with bearish expansion and 1-2-3-4 setup

EURUSD H4 with bearish expansion and 1-2-3-4 setup

 

GBPUSD Head and Shoulders chart pattern with bearish expansion day close

GBP H4 bearish expansion with head and shoulders chart pattern

GBP H4 bearish expansion with head and shoulders chart pattern

With we overlay this chart below from Colonel Kink’s report #10 from 09 July, it is very clear that this entire Head and Shoulders chart pattern↑ happened with these shoulders pushed against/under zone B.

GBPUSD daily chart by Colonel Kink Forex Reporter

GBPUSD daily chart by Colonel Kink Forex Reporter | Source: Tradingview

GBPUSD swing look for short continuation day traders long

Analysis for swing traders

GBPUSD favours continue short with swing lower highs and lower lows. Bollinger Bands agree. Noting where the higher Bollinger Band is price might not be able to reach shadow A. Zooming below shadow B should be an entry signal as well. Look for wash n rinse or /\/\ on line chart.

Director, TerraSeeds Market Technician Pte Ltd. Trader, investor. @sohtionghum was picked ‘Top 70 Forex Twitter in 2015’. Operates multiple strategies.

“Dear reader, I do not have a financial license to give advice. I do not know you the reader. Your financial objective and risk tolerance may be different from mine. I am not responsible for any consequence of your action.

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