EURUSD Long upcoming week Everything is describe in the chart, will update the progress before taking the trade and when to exit the trade
Confluences
CHFJPY (H4): Retracement (Long) Likely to HappenCHFJPY
Timeframe: H4
Direction: Long
Confluences for Trade:
- Strong Bullish Engulfing Candle
- Break of Trendline in H4 (Established since Sept 2018)
- Hovering around 50% Fibo levels of previous uptrend move
- Narrowing gap between 8EMA and 50EMA
- SL Levels is placed below the M/T Trendline (since May 2018) and 61% Fibo levels of previous uptrend move
However Stochastic is showing H4 is around Overbought conditions, you may want to consider to wait till the Stochastics re-balances itself before entering the trade.
Suggested Trade:
Entry @ Anywhere around Area of Interest (113.00 - 113.80)
SL: 112.17
TP: 115.95
RR: Approximately 2.21 (Depending on Entry Levels)
May the pips move in our favor! Good luck! :D
*This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.
AUD/USD Breaks back above 0.7400AUD/USD:- After a choppy week of price action last week, Friday's candlestick closure confirmed a strong bullish hammer , after rejecting major support levels, and broke back above the 0.7400 level. This was critical for the pair as this now provide us with a valid trend direction and trade set up. With multiple confluences aligning, I still favour a run back to the resistance level of 0.7550 and beyond to the weekly level of resistance 0.75750.
Higher time frame analysis suggests there is a high demand region below the 0.7400 area , with multiple wick rejections showing weakness and a slow down in market momentum, it proves that there is a significant buying pressure building . If you were to combine the price action, with our moving averages crossing over, this is helping us filter out the overall market direction and therefore we should only be looking to trade in that particular alignment.
©Everythingfx
DCR/BTC (DCR token) Awe Inspiring Price Symmetry-Top Soon!DCR/BTC (Decred token) Daily bars, semi log scale, candlestick wicks removed.
5/21/18, 6:00 PM EST, by Michael Mansfield.
BOTTOM LINE:
Decred is approaching the confluence of numerous strong resistance lines and measured price move-price equality projections-for our first price target area. This looks like like Wave V of (III) or possibly Wave C high. See below for details.
WHAT IS THE DECRED TOKEN:
Decred (DCR) is an open-source blockchain based on an innovative consensus voting model that offers autonomy, scalability, modular code so its easily modified, and self-ruled where the Stakeholders make the rules.
AWESOME SYMMETRY:
Notice awe inspiring price symmetry of the past price swings lengths to subsequent price moves lengths, both up and down. Take the time to really study this chart!
PRICE TARGETS ARE: 0.001449, 0.0016650 and 0.001759
Price Target 1 = 0.001449: The current price swing labeled Wave 3 or C (no real preference yet) looks like it may top in line with multiple resistance points that also happen to be at two of the price levels suggested by a measure move from two vertical arrows that were cloned from the prior price waves then added March 29th low.
The first price target is also 1.3146 x “Wave A or Wave 1” up from the December low, then added to Wave B (or Wave 2) low in late March, 2018. How cool is that? Very cool!
Target 1 is also a Gann Fan 8:1 line (black dashed line) which tends to be super strong. If DCR breaks this resistance price, there is likely a much larger cycle still heading up that we cannot yet measure. And,
that likely means this is a Impulse Wave 3.
Price target 2 = 0.0016650, is 1.618 x Wave A or Wave 1.
Price target 3 = 0.001759, is based on largest vertical arrow cloned from the prior
price moves (same distance repeats) then added March 29th low.
CYCLES:
Two cycles are in the topping process between now and May 30th.
Blue cycle is major cycle and in phase thus far. It is in a topping phase, but as a longer-term cycle,
it has a wider window for the market crest, which, should be between today, Monday, 05/21th to 05/29th
next Wednesday. It’s
Red cycle was in phase until Nov. low, but has been out of phase with Drecred since then.
Dominant cycles almost always win, but we should add that the red cycle (been out of phase) does
top latter than the others, on June 19th, but that is not a strong consideration at this time.
Green cycle is in phase and peaks between 05/26th to 05/28th, with the center date of May 27th.
Since markets can top early (Left Translation) or late (Right Translation), it is possible that today was a top. The market did hit the 75% Andrews Pitchfork resistance line, and during the day the high almost
hit the GANN Fan 8:1 super resistance line, which, is also a measured move point, as shown by the
shorter green vertical arrow off the March 30th low.
SUMMARY:
Look for a top between today and May 30th, giving it an extra day. Use short-term intra-day charts to
find a tight exit point and perhaps a lower swing high to put on a light short trade once this degree of top
has been confirmed.
TRADER TIPS:
Look for repeating price swing lengths then add or subtract those measurements from major swing highs and lows for addition confidence of price targets. Especially when they line up with Gann, Andrews or Schiff lines.
DISCLOSURE:
This analysis is meant for educational purposes only. You trade at your own risk!
Cheers and best wishes,
Michael Mansfield CIO
AUDCAD - IHS Reversal, now pausing at Fib on route to TargetAUDCAD bottomed out with an inverse head and shoulders reversal which was confirmed with a break through the neckline at 0.97054. The pattern targets 0.985 which currently aligns with the 200 DMA which is a useful reference for aligning longer term directional bias. Currently we can see price is undergoing a natural pause around the 38.2% Fib. retracement level of the Mar-May surge in CAD strength as well as support turned resistance off the corrective dip mid Feb 18.
Short term target is the 50% Fib level at 0.99 which is frankly close enough to 1.00 for this to be a sensible target zone, expect a few candle wicks penetrating and failing at this level before we see the next wave of momentum
waiting for confirmation off 38.2 confluenceso we have a 1h support i marked with a green line
2. supply zone in play
3. 38.2 fibonacci
4.macd confirming
5. awaiting confirmation on candlestick
6. MARKET STRUCTURE IS BROKEN ON 1H HOWEVER WE HAVE A 4H PLAY IN THIS AS WELL THATS WHY ITS IMPORTANT TO WAIT AND SEE WHICH MARKET STRUCTURE PLAYS OUT
USDJPY SHORT OpportunityI see USDJPY melting due to several reasons
It has been creating LH and LL
It has broken the counter trendline (blue)
I see it retesting the trendline (red) before going back down
The retest of the trendline is not only a support area but also a 61.8% on the fibonacci tool
Many confluences for it to keep going down
Confluence Sell off 38.2So we see first that we have a break of structure on our previous low showing that we are in a bearish movement, Second we see that we are at a supply zone: Third we are at a 38.2 retracement with Fibonacci. Four we are waiting for a candlestick to form and so far we are looking like a Bearish engulfing candle. Fifth we are seeing a cross in the MACD
Possible Confluence set up waiting till confirmationso we have a possible confluence setup, we have to wait for one or two things: One being that we come down to the 38.2 and wait for a candle stick reversal pattern or were going to break our lower high which i marked in red and we will get a reversal from there we can re measure our fib for a sell opportunity.
Gold Confluence Fib plus supply and support zone we are now waiting to ride gold back with bullish movement we are now seeing gold doing a retracement, i will patiently wait to see a bullish candlestick variation, im expecting it to either retrace at the 61.8 or 38.2. Then to ride it back to the 2.6 before we see another drop! Great things for gold to come.
"Trade what you see not what you think" Bullish Sentiment Validated confluences
1.Daily trend line valid
2.Resistance broken support validated
3.Trend Trading
4.Profit margin 1:3 (minimum)
5.Price action hit support zone
"Trade what you see not what you think" Bullish Sentiment Validated confluences
1.Daily Trend-line broken (uptrend)
2.Resistance broken support valid
3.Profit margin 1:4
Major resistance zone/area breached which indicated bears have capitulated to the strength of the bulls, which also shows us who is in control of the market. Based of two strong confluences which is opposing force breached and trend-line break to the upside.
''Trade what you see and not what you think'' changed sentimentValidated confluences
1.Inside Bar formed in Strong support zone
2.No fresh strong resistance until 17200
3.Price action hit support zone
4.Minor obstruction above 16600
USDJPY ShortI am currently in a short position for USDJPY reason being I see a bullish Pennant that has been forming since March of 2017. On the Daily there is a strong doji pattern at my current Monthly Resistance. Along with the candlestick pattern, and the monthly resistance there is also a strong trendline that has been respected twice hoping it will be respected once more going down, before ultimately going higher. For now I believe it is a short
Long Opportunity for USDCAD?This pair is showcasing lots of confluences to the upside. Price is respecting the inner bullish trend line, and we've also seen a strong bullish action at the 61% fib level, my EMAs are diverging upwards and all of these signify to look for long only entries.
Breakout of ConsolidationConsolidation Rectangle Breakout and Trend line breakout confluence.
Short to key level.
CAD to strengthen following oil price increases.
Wait for retest of rectangle
Bat pattern trendline supportNice bat pattern forming on top of trend line support. Will be targeting the middle line for TP
Bearish AB=CD confluence/cluster Confluence on the trend line, ab=cd pattern ( I forgot what the name of this specific type of abcd is) Overall bearish market.
gbpjpy shortsorry for being late guys
good divergence triangle break pattern with supply zone confluences with Fibonacci levels.,,,,
potential cypher bearish pattern AUDCADConfluences
Strong Supply Zone + completion of bear cypher pattern
i will look for my entry triggers to enter this trade.
GBPUSD BuyThere is a confluence area I am seeing here on GBPUSD at the 1.22500 level. Watch the area closely for a chance to buy the pair.
