Break
AUDUSD trading In A Three-wave Setback; More Gains Can FollowAUDUSD did not move much recently, so our view remains unchanged; we still see pair making a corrective set-back in wave B which is now trading into some interesting Fib. Support zone with sub-wave c, here at 0.7579 area. We think bounce may occur from here, but keep in mind that wave C leg may occur only if price crosses above 0.7620, which would be a confirmation of a completed c wave.
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DASHUSD Next Buy Points for break outDASHUSD DashDollar
We got stopped out of the long from 305 at 599 which was
cruel considering it bottomed at 596. Just bad stop
management - should have lowered it to cover the lower
parallel but didn't pay enough attention in truth, so busy with
those other 3 favorite girlfriends to pay this enough time.
Bad. And got punished for that lapse.
Back on the trail: the continuation pattern is clearer now.
There are two posible entry points here:
1. On a break of the upper parallel, confirmed by a push
above the blue line above it at 638, looking to buy on the
first minor pull-back with stops kept under the parallel.
2. But Dash is now in a vulnerable spot, trying to break above
the old dynamic support line from the lows which is now
acting as resistance...If this continues and Dash falls away
from the old dynamic stopping it now there is a good chance
it will fall back to 606-595 range again. If so look to buy here
with stops below 590/adjusted to below the lower parallel,
unlike the mistake made above, with a little luck.
But if Dash can break above this old dynamic and then the
resistance immediately above it, it would be a real show of
strength. Follow it as per 1st option.
USDJPY 4HPotential breakout of downward channel, looks like a inverse head on shoulders pattern could be in play here so I will see how price reacts to daily resistance
AUDUSD 4HBreak of trendline & retest, under daily resistance zone. Short until weekly support before a potential bounce to the upside
CADCHF 4HAt trendline support, will there be a break or bounce?! Lets see how opec effects this pair Tomorrow ..
GBPJPY 4HGJ Fell nicely this week I took it at the top of its channel, now waiting for price to reach weekly support where I will look for a break below or bounce to the upside. Watch for a bullish engulfing for longs or a break of the CTL, price now may build up enough momentum to break out of its sideways channel its been moving in for some time now heading to its next weekly resistance level to the upside around 151.800-152.000. Patience is key with this pair :)
EURGBP DAILYPotential trade of the week here as price is sitting above its broken counter downtrend line / daily support. Waiting for a daily close for more confirmation.. Lets see how it plays out! :)
XAGUSD : low risk buy , high rewardLooking on the daily chart and 4h chart , it looks like price will rise to the next resistance zone but I'm aiming to the second resistance zone which is 19.0 zone - marked on the chart...
Best of luck :-)
BTCUSDWatch for a break of resistance & close above for longs or break of the 4 hour uptrend line & support for shorts.. A correction is likely soon however price could reach 10k before doing so
AUDJPY 2HShort at counter trend line / support turning resistance.. Another push down to weekly support is likely
Example of a Support and Resistance lines.I want to show with this example how the price in a lateral movement oscillate in ranges between supports and resistances lines.
The target is the following, if the price bounces on a resistance, make a short until it reaches the support level.
If it bounces on a support, make a long until it reaches the resistance.
If the price breaks a resistance, make a long until the next resistance level.
If it breaks a support, make a short until the next support level.
Sometimes a price level can behave as support and as resistance, this indicates that it is a strong level.
AUDUSD DAILYAt a decision area.. Will we get a break or bounce off weekly uptrend line? I am leaning more towards a bounce but waiting for confirmation is all I can do at this point.. Definitely on my radar
EURCHF 4HPrice is in an ascending channel, next target at daily resistance / channel top. Will watch price action at that point for either a break or bounce.
AUDNZD 4HAt trendline support, looks like a bullish flag is forming & another move to the upside is likely.. But a breakout in either direction is what ill be looking for.
GBPJPY 60Bounce off CTL & 61.8 fib level again, will only look to long once a break of the counter trend line. Other wise my bias remains bearish.. GBP news in a couple hours something to watch closely
GBPAUD DAILYLast week, BOE gave us a perfect retest of broken weekly trend line, & bounced off the 61.8 level. Price closed above resistance I will go to the lower time frames to look for an entry. AUD RBA Rate statement shortly I am anticipating a weaker Aussie lets see how that helps this setup go into play..
NZDUSD 4HPrice currently sitting above daily support & above the 50 moving average, waiting for a break below support & bearish engulfing candle to go short for another leg lower...
USDJPY 4HPrice broke resistance, now turning to support. Lets see how the 4 hour candle closes & another push about 50 pips higher to next area of resistance is likely
