Note the hammer candle that pinned the trend line on the daily time frame. Price is just below the 200ema and the candle from Friday kissed the MA perfectly. 1. Price needs to print a bullish candle for today 2. 200ema needs to be broken to the up side 3. Using H4 for entry can be beneficial for a better risk to reward ratio
FX:AUDUSD Based on the massive double bottoms found on EURUSD and GBPUSD which are both correlated to this pair to some degree I take note of the following: 1. Double bottom formation (will complete if today's candle closes as bullish as it is now) 2. Trend line is being broken 3. 50ema is being broken 4. The current candle is a great signal candle 5. Last...
FX:USDCHF I have been watching this pair for a while now. A few things to note here: 1. Resistance level reached 2. Stop hunt high completed 3. Trend line to the down side needs to be broken to qualify for a short 4. Be aware of the inverse head and shoulder pattern on the weekly time frame that could prevail More details to follow :)
1. Price has bounced off the support 2. Down channel resistance level broken to the up side 3. Double bottom pattern 4. Note the monumental head and shoulder pattern on the weekly timeframe - trade with caution