Hey there guys! Since I have a sell setup in NZDUSD at CMP, I am looking to buy EURNZD. The price action coming back to previous structure zone. Making a correction after the impulse leg. I am expecting an upside move from the structure zone area to touch the retest of the impulse. Price acton also trading above the EMA's thus indicating a bullish bias. We also...
EUR/GBP has been in a range since March 2015. Another retest of ~0.7400 at the top of the range and a high test close with oscillator bearish divergence offers a short position in the ranging pattern possibly reaching the bottom of the range at ~0.7000. entry - below low of high test bar stop loss - above high of high test bar target - bottom of the range/support...
Hey traders I have got some reasons to long the pullback from 1.06028 that is the Rsi divergence and the structure support. Would like to see the price moving above 1.06744. 1st target would be the Retest of the final point of the impulse and the 2nd target is to the 1.618. Good luck
Short set up on USD/CHF by taking cue from: - bearish engulfing bar - resistance at ~1.0080 - Stochastic and RSI bearish divergence entry - below low of bearish engulfing bar stop loss - above high of bearish engulfing bar target - previous support level
Sitting in a range EUR/USD may rally back to the top of the range. If not, it may retest the level halfway and continue downward. Signs of bullish anticipation are shown by price finding support at the bottom of the range, a near resembling low test bar - but really a bullish reversal bar , and Stochastic and RSI bullish divergence . entry - above high...
This simple RSI-MA long/short algorithm beats the Dow by a FREAKING HUGE margin over the past century (excluding dividends and trading costs). The algorithm uses a fast SMA of the RSI as a buy/cover signal and a slow SMA of the RSI as a sell/short signal. Backtest period = 09/17/1916 - 11/02/2015 DJIA = 98 --> 17,830 = +18,094% = 5.38% CAGR Algorithm = net...
A low test close at a previous level and oscillator bullish divergence suggests potential upward rally on EUR/AUD.
AUD/USD has formed new structure recently showing signs of a trend reversal. Whether this continues to hold longer or not is for price action to reveal. As for now, a potential bullish continuation is brewing after what seems like a shall retracement. The close of price action by end of day as a low test bar above ~0.7250, where price has found support, will...
USD/SGD exhibits signs of bearish oscillator divergence as confirmed between price action and the Stochastic and RSI indicators. Price closes the day with a high test bar below a level where resistance is present. entry - below low of high test bar stop loss - above high of high test bar target - previous low
A bit late in posting, but since my entry short hasn't triggered, I though I'd write a quick post. So price met resistance at the 1.3350 area and closed underneath as a high test bar. A short entry signal is pronounced with the accompaniment of oscillator divergence on the Stochastic and RSI indicator. As it is Friday, there is a lull in the markets as usually is,...
Another short set up on AUDUSD since downward momentum on the previous set up (idea linked) failed is on offer. The present set up comes after a deeper pull back, organic in a sense, into the 50 ema which also lines up with a previous level of support (~0.7250), now acting as resistance, and the 0.618 FIbonacci level. Price closed as a high test bar. Oscillator...
On the S&P 500 and NASDAQ100 indices, closing as a high test bar in the resistance zone, and a bearish engulfing bar on the FTSE100 (UK100) stock index, a sell setup is in order suggesting potential bearish continuation on these three (CFD) indices, following the recent sell off on major indices. 1. S&P 500 The rejection/resistance zone on the S&P 500 comprises...
Although the retracement/pullback on this pair is quite shallow my reasons for taking a long position are: - Bullish/reversal bar following 2 seller bars - Support at 1.3100 with close above - 8 ema rejection/support and close above - 0.382 Fibonacci level rejection and close above - Stochastic and RSI convergence entry - above high of low test bar stop loss -...
Reasons to short USD/NZD: - high test bar close - 20 ema rejection and close below - resistance (~6700) - downward trend line rejection (third bounce) - 0.786 Fibonacci level rejection and close below - Stochastic and RSI hidden bearish divergence entry - below low of high test bar stop loss - above high of high test bar target - previous swing low or lower
With the following noted a long scenario appears to be in play: - bullish reversal bar (near resemblance to bullish pin bar/low test bar) - resistance becomes support (at ~2.3260 which stands out as a weekly level dating back to November 2009 ) - retest of 20 ema and close above - trend line support (third touch) - Rejection of 0.618 Fibonacci level and 50%...
Looking at the following to sell EUR/USD: - inside bar - 50 ema rejection - resistance at @1.1100 - Fibonacci cluster: - 0.786 Fibonacci level rejection from previous swing high to swing low and closes below - 50% retracement between first swing high at the top of the trend line and closes below - trend line rejection - Stochastic and RSI convergence entry -...
Using the following to back a short entry on EUR/GBP on the daily chart: - inside bar - resistance at ~0.7120 - mother candle rejects: - 50 ema and closes below - 0.786 Fibonacci level and closes below - Fibonacci cluster - falling trend line for the 4th time closing within the downward trend channel - Stochastic hidden bearish divergence (comparison of...