POTENTIAL BEARISH BAT PATTERN ON CADCHFPOTENTIAL BEARISH BAT PATTERN ON CADCHF
Over all trend is a downtrend.
I have a potential bat pattern on its way but there's a key level in the way.. Lets see how price reacts around the 76.0 Area..
Area
AUD/USD Possible Short opportunityRead chart/ Personally i would wait for a indecision candle before entering this trade and enter it if sellers are able to make a new low after the indecision candle because that would mean that sellers taking control of price.
GBPNZD we are in a delicate area for this pairWe are in a delicate area for this pair, from here you can start a big raise - related to the NZDUSD in which we expect further falls
Important area to watch on GMPositive news drives GM to this interesting area. There is resistance and two harmonic bearish patterns. See if the force of the bulls drives through this area and enter long (maybe after retest?) or enter short if harmonic patterns and resistance area holds.
EURO/AUS - Key Resistance AreaThis pair is now at an interesting level, i took profit on my long trade late in the week as it hit my target area, we have now reached a key monthly Resistance level and the top of this textbook channel...we could potentially see the next leg down to test the bottom of the channel once more, or we could indeed break the channel and resistance either way i'll be monitoring this pair closely for price action to lead the way!
DAX at channel resistance and resistance lineHi Traders,
DAX today reached its channel resistance and also resistance line around 11,620. I expect for him to find resistance in this zone, however, It wouldnt surprise me see him making another high tomorrow to touch that 0.618% fib at 11,731 and fall, HOWEVER, we need to close the daily bellow channel line to show that sellers put some short orders.
Stop loss I would put at 11,840 (abit higher than the last high to not see DAX stop some trader out and than fall).
Thanks for looking!
Thiago Duarte
@thiagotrader
thiago@duarteinvestmentgroup.com
Trading Plan for next 2 weeksTrade ideas are based on my anticipation of an inverse head and shoulders.
This should atleast help gaining some orientation for price action and time windows.
Make sure to check out my other charts for more information.
Feel free to leave comments or questions bellow and upvote this chart if this is usefull to you.
Cheers : ]
DXY approaching a critical area of resistance also 0.236% fib.The Dollar Index (DXY) is close to a zone of resistance around 92.88 which is also 0.236% fib. Is in this area that I am waiting for a long time to reach and we might see a short to medium term correction or even reverse if the greenback shows some worrying signs.
[ SIDEWAYS ] - Fibchannel + Timefibs
Carefully adjusted fibchannel and timefibs.
Allignments of price and fib channel are marked by yellow lines (scale out to see more allignments)
0.618 - 0.764 time fibs mark a potential breakout area.
Next weeks I expect moves within the red diagonals, less volatility, smaller trend angles on downmoves, short: sideways.
So moon rally likely to start in august.
