Pullback confirm bearish movement?-USDCHFPrice broke bullish trend. Now is doing a pullback till that trend. We can expect to bearish to the next supports. In addition, MA50 has broken MA200, wich alerts for a probably falling.
Break
EURUSD short ideaprice has just broke monthly level
im waiting for a retest back to the lever or candles at 78.6% to enter short
TP1 above 127.2%
TP2 above 161.8%
Intraday falling- NZDJPYBreak of hourly bullish trend. Price is doing a pullback till that trend, and then, we can expect a bearish movement till first support level.
USDJPY Interesting Setup With Bullish PotentialI am still biased long on UJ, so to buy I will be looking for a break of the triangle resistance, and will be watching the 113.93 area of previous resistance to either close my long position or add more long positions if price breaks upwards of 114.00
GBPUSD long ideaprice is currently bouncing off trendlines with previous rejections
i'm expecting price to go up to the upper trendline once more to the weekly resistance
price may then bounce or break
GBPNZD ideaprice may break the trend line(1.70700), retrace and continue up
or
it may break key level, retrace and fall to monthly support (1.67600)
EURCAD Two Possibilities EURCAD has two possible ways price can go. It can form a flat channel (left side) or continue down to the 1.38900 level (right side). My bias is that price will follow the left chart but the right chart is a possibility. Keep your eyes on this pair. Good luck and safe trading
EURUSD: Rising WedgeAfter EURUSD broke out off a triangle it's forming a rising wedge. Expecting a pullback
GBPUSD - Shortlook closely and see that these candles where the red box is has just trapped all short sellers in the market. Have to remember all this is speculation and this is a clear money grab.
price has just tested this area to make people think price is going long again, but i believe in the next 4-8 hours it'll drop short.
price to test the 200MA and area of previous resistance from yesterdays clutter
NZDJPY Bullish PennantAs you can see in the chart there's a bullish pennant that formed outside of the downward channel on the bigger timeframe. I have entered long with these parameters:
SL: 80.2
TP: 89.5
AUDCHFWaiting for the blue line to be breaked and then re-tested, I'll enter when it re-tests for a potential target of 70pips.
AUDNZD - PUT THIS ON YOUR WATCHLIST RIGHT NOWThis trade may be turning up faster than anticipated. My original prediction stated that it would probably fall and retest its trend line break, but it seems that this pair may just be headed upward without it. Watch this one! If I see a candle pattern I like I will go long and update this post.
EURJPY Rising Wedge Break-out Performance I have been monitoring the formation of a rising wedge on the EURJPY pair. Formation performance has been estimated at around 260pips and I will be entering a short pending order as soon as I receive confirmation for the break-out.
I can also see the confirmation of a double top formation (or a 2618 play) in the making should the price move further South which strengthen our confidence on the idea.
It is a long move so I am not expecting to get there at one go. A retrace is also expected to test the broken support, so place your order according to your trading style since scalping opportunities may occur.
let's wait it out.
All feedback and comments are highly appreciated.
USDCAD: bounce or break?USDCAD has a very peculiar configuration this week.
The support at 1.31220 was violated on Thursday, but the Bulls came into the game to bring it up above it again.
Nevertheless, another bearish bar closed just below it on Friday.
Macro and Cyclicity are expecting a signal to go LONG.
Interesting to watch and see whether this takes a clear position either LONG or SHORT.
In both cases we should have margin for a TP1 of about 100 PIPs and a TP2 of about 200 PIPs with even more possibility if the starting trend is strong, as you can see in the #support #resistance levels highlighted in the chart.
Prices refer to this chart and may vary with other platform/brokers.
I always discuss and follow up these ideas on my blog.
OIL Brent Crude OilOIL under observation for possible LONG positions.
The indicator in my algorithm has shown good results in this last month on the Daily chart (blue rectangles in the original post on my blog).
This ticker has been ranging in a box between 53.00 and 56.85 (apart from a couple of false breakouts long) which suggests - together with macro indicators - that the price is being contained in that area.
The moving averages on Friday seemed to be pointing to the LONG side and a price confirmation would trigger the trade.
Another interesting indicator would be the breaking of the level at 59.00 which might potentially skyrocket the price in the area of the 67.00.
A box break Long would thus have a first cap at 59.00 whereas a break Short would meet a first support in the area of 49-ish and another further down to 44.5
Given the bullish sentiment for this ticker, even in case the breakout goes short at the moment I would aim at the first take profit, as it is currently not probable that the ticker depreciates down to the 44.
Prices refer to this chart and may vary with other platform/brokers.
I always discuss and follow up these ideas on my blog.
EURAUD to break support?Another pair that closed on the verge of either a bounce or a support/resistance break.
EURAUD stopped on Friday at 1.41748 with a very short body that suggest a price confirmation in the area that has been a support quite a few times in the last quarter.
If the EUR appreciates, there is still a soft level to consider at 1.41328 so for the moment the Risk-Reward-Ratio is not in our favour, especially considering that a bounce is far from improbable.
A price confirmation down that soft level would instead lead the way to 1.40560 (as from a former support seen on the weekly) with a SL just above the current 1.41748 level.
Conversely, in case of bounce, a conservative TP could be 1.44050 but this needs to be confirmed by what we see in the chart.
USDCAD break of monthly trendlinePrice broke below the monthly trend line
Possible retracement to 1.325 areas for short entry
price formed double top at 1.355 which means potential reversal of trend
TP1 at 1.278 long term trade
EURUSD break of lineprice broke the trend line clearly
possible retracements to 1.055 areas
if price retraces to test it, long trade in play
price most likely to race to 1.085 (TP1)
EURUSD Box Break-out Performmance, Long-Term Price SpeculationLooking over the Weekly chart for the EURUSD pair we can identify an attempted break-out of the rectangular formation, expecting a continuation of the downtrend dating back to May 2014.
The above is also supported from a shooting star on May 2016 (to my eyes at least), clearly indicating a short move, and we have been looking at the price tag going South since then. Check out the performance possible long-term profits with a previous structure support coming on low 0.99000's levels.
We would also expect a retracement move to retest the broken support but trust to become resistance in due time.
All feedback is highly appreciated.
