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Continuationpatterns

AUDNZD: Continuation SetupReason to entry: -Elliot's waves structure -C at strong support area -AB=CD in line with second confluence -price action move in triangle pattern -divergent and oversold RSI -wait for higher high higher close candle Entry: -wait for higher high higher close candle (entry at candle close) Exit: -retest of structures -retest of triangle's resistant Void if: -premature move -there is no rejection in support area Remember that market always right! Manage your trade well!
Long
by WilliamSurya
EURUSD : Short inside a continuation triangleOn mid and long terms, the EURUSD pair is evolving inside a bearish trend . Looking at the fundamentals, both FED's policy (more rate hikes to come) and political context in Europe (especially the French presidential elections on late April and early May) are feeding this decline of the euro currency. Technically speaking, the selling forces remain dominants on this market , as shown by the MA100 and MA200 which are still downside oriented. Moreover, the resistance at 1.0843 is preventing buyers to go higher for the third time since december 2016. The triangle (as shown in blue) as also a continuation pattern, announcing a highly probable bearish reversal from now. Thus, the strategy here is to : - open short at the current price level (1.0783) - with a stop @ 1.0880 - a target @ 1.06 Reward/Risk ratio = 1.41
Short
by AlexandreNygal
5
EURJPY : Continuation pattern in a mid term downside trendThe EURJPY pair is in a downside trend since mid 2015 without any interruption. Currently, and this for four months, this pair is consolidating inside a triangle continuation pattern . This period of stabilization does not significantly put in danger the bearish momentum on the EURJPY, as shown by the long term 200 days Moving average which is still very well oriented downwards. On that situation, this is a quite good opportunity to initiate a short position because : - the current price is close to the resistance at 116.349Y (two previous tops) - this resistance area matches with the 62.8% retracement of the bearish wave (July-August) - the upper downside trendline of the triangle makes an additional barrage for the buyers to go higher. Here is the strategy : - Enter short on EURJPY @ the current price (approx. 115.31Y) - Stop @ 116.75Y - Target @ 112.72Y Reward/Risk = 1.15 Feel free to leave your view about this analysis in the comment section
Short
by AlexandreNygal
3
Perfect illustration of a Flag formationThis was an analysis of the DXY I did previous to the whole price movement upwards. My analysis was projected 09/09/2016 at around 7am before the market started moving. This is just to show you that technical analysis is a strong and very reliable method to make profits within the financial markets. I projected the MinPO from the previous spike upwards and predicted the same movement again after a the pull back (flag). The MinPO (Minimum Price Objective) was successfully hit... now a possibility for another flag formation in this pull back? Keep an eye out for this pattern... but of course the probability of this pattern occurring again is now lower, since market has already shown such price movements previously. APPROACH WITH CAUTION (Stop loss a bit tight maybe?)
FX:USDOLLARLong
by OSEA7