Bullish Pin Bar
Eur-Aud Rejection The LEVEL With Pin BarEur-Aud Rejection The LEVEL With Pin Bar . Market face the support level in Strongly mood here so we buy the pair with given levels and targets . Good Luck
GBPCAD Long: Bullish Confluence with High R/RGBPCAD has completed a bullish bat on the 15m TF. Zooming out to 1HR we can observe a double bottom forming at the PRZ. Two longer-term trendlines provide added support at this level. The daily TL also forms a potential bottom barrier of a triangle pattern where the first bottom serves as touch four. Targets are placed at structure high and 1.272/1.618 extensions which are confluent with other important levels (see chart for details). SL is placed below recent lows for a R/R of over 18 if support holds. Wait for candle close for another bullish pinbar confirmation before entry for a more risk-averse approach.
Shorter TF Bullish Bat Complete:
Bullish Confluence:
Bullish Bat
Potential double bottom
Daily TL Support
4HR Trendline Support
Potential triangle forming on daily
Bullish pinbars forming indicating buying pressure
GBPUSD - potential bullish pinbarCould this be happening again?
H1 pin bar formation on top of the previous Daily Inside bar range and TL?
GER30 (DAX) Pin Bar Buy Signal - 18th June 2015Trading Setups: GER30 (DAX) Pin Bar Buy Signal
The GER30 (DAX) formed a bullish pin bar buy signal yesterday after moving briefly below 10970 key support level. In addition we can see that this bullish pin bar almost formed at the bottom line of a channel. We could see price move higher from this pin bar in the coming days. Yesterday price retraced 50% which gives us a great entry for a 3:1 R/R trade setup.
GBP/AUD - Dominant Trend Reversal & Fibonacci Synchronicity The GBP/AUD pair has endured a powerful bear market since 2001, however, many correlating indicators are suggesting that we may be close approaching a confirmed pivotal change in the dominant trend.
Our first major indicator was the cross of the 50/200 Exponential Moving Averages which occurred in January of 2014. The last time these indicators crossed was back in the summer of 2003 following a massive monthly head & shoulders pattern in 2001 at 2.95000. This "Death Cross" contributed to the acceleration of the bear market following the H&S topping pattern.
We are currently witnessing an identical inverse scenario taking place as we transition into a powerful bull market. Taking a closer look we can see a 2 year descending triangle reversal pattern that formed from April 2011 - April 2013 with 1.4750 acting as the floor. Following the breakout of this impressive reversal pattern, we can take note of the 50/200 EMA "Golden Cross". Remember, the last cross of these EMA's was back in 2003; a solid 10.5 years ago. We have remained in a bull market ever since the most recent "Golden Cross"
The recent price action has been exceptionally bullish; with this pair currently reflecting a massive bullish channel. This channel developed following a complex ABC pullback pattern that occurred after the "Golden Cross"; re-testing the 200 EMA as new support.
Coming up to speed with last week, we had a massive bullish pinbar form at the key Support/Resistance level of 1.9000. This level acted as major resistance at the end of January 2014 which kicked off the ABC Pullback Pattern. We have now re-tested that 1.9000 level as support with a bullish pinbar that is indicating a new leg higher in this bull market.
Utilizing our Fibonacci Tool, we are able to measure and identify that each new bullish drive off the bottom trend-line of the channel has occurred at the .618 Fibonacci Retracement of the previous up-move. Price then went on to target the 1.618 Fibonacci Extension with 100% accuracy.
Keeping this in mind, the textbook price action of the last weekly pullback that ended with a pinbar reversal candle, point to the high-probability of the next bullish wave targeting the 1.618 Fibonacci extension at 2.07500. What makes this target even more appealing is the fact that the 50% Fibonacci Retracement of the last bearish leg down (measuring from the previous swing high at 2.7000 to the descending triangle lows) lies exactly at the 1.618 weekly extension at 2.07500. If this target is reached, broken, and re-tested as new support, this opens up the .618 Fibonacci retracement @ 2.22500 as Target 3.
Last week's bullish pinbar provides us with the proper technical signal to enter a long position on GBP/AUD with 3 logical upside targets. Target 1 being the previous key resistance at 2.000 which triggered the most recent bearish pullback. Target 2 is our 1.618 weekly Fibonacci extension as outlined above. Target 3 is the .618 Fibonacci retracement of the previous bearish leg.
