Elite, what are your views concerning these pairs

GBPUSD: start of a bullish trend?

 

sorry for my ignorance, but based on what are you expecting the bullish move?

 

its at the bottom of the chart. the candles will bounce off the date axis.

 

I say trading range, important price level.

 

Simply ask the blind.
Even the blind can see it is on the downtrend.

It will be on the downtrend until the chart says otherwise.


Similarly, EUR AUD JPY are also on the downtrend.

 

TA FTW
mean reversion is your friend and the trend until it isn't

 

Based on? Because it fits in your chart window without re-scaling?

 

The thing with reversal patterns, H&S, Wedges, DT's, DB's is they have the potential to reverse. They can just as easily evolve into a trading range or in the case of your example, form a flat base bear flag and continue down. Good risk/reward as a tradeoff for likelihood of successful reversal. As always, never marry a position, anything can happen and you need a plan.

 

Always wanting to "put the cart before the horse", When you seem one of these (inside cyan ovals) let me know:-

 

my assistant says :