Watch for the breakout to the downside coming up soon on AUDCHF.
The top chart shows a long setup for the short term trader. The bottom chart shows a long setup for the swing trader. Whatever your trading style be, pick whichever and run because I do see medium term bullish potential on this pair.
Price has reacted positively to the bottom of the ascending channel and I am expecting price to continue to the upside to complete the 5th wave. Updates will be posted.
Here on the GBPUSD there is a potential long setup for close to 800 pips of profit. If we see price break down impulsively idea will most likely be invalidated. Price action on the daily timeframe is supporting this trade idea. Trade with caution and good luck.
Price action on the lower time frame is giving hints that we may have one more move to the upside before the next bigger move to the downside. Additional charts will be added in the comments.
The EURNZD has formed the first impulse to the downside and the second wave is close to completed. I am expecting that price will fall impulsively as indicated in the chart. This idea is only valid if price contains itself within the corrective pattern at play, so watch the top as price nears it.
The next bigger move expected for the EURAUD is looking bearish and will most likely test the previous low of 1.36300. Sell the breakout to the downside.
Currently price is ranging in a reversal channel. We should see a break to the upside in the next week or two.
CADCHF is currently setting up for the next move up. Watch the lower time frame an entry.
Here is a simple trade setup that has formed on Silver. Wait for the break then go short.
Here on the daily chart for USDMXN there is a possible expanding triangle forming. The first impulse and correction has formed on the 1 hour. More charts will be posted as updates.
Here is the future pattern forming for AUDNZD. It is possible that price may not reach the top of the ascending channel for some time, so watch as price action nears the 1.12100 level. For the present time, on the lower timeframe, there is an ending diagonal forming indicating price will reverse soon. Buy the breakout or enter at your own risk.
EURCAD has given us confirmation that price is now headed to the downside. Wait for the breakout before entering short. First target is near the 1.51700 area.
Look for short positions at the top of the flat channel.
NZD/CHF croke out of channel. There is the possibility that it is making an "A" wave leading diagonal, which would then correct upwards further correcting a 5 wave, or it could be making a wave 4 correction to go down. Considering how close to the low it came and the corrective price action it made, I feel like it will break it. I will update you if I happen to...
UNOKE came off fork. Dollar strength everywhere, but you gotta be careful. I'm in this stop in profit at this point. This pattern has the potential to form a 7 swing type structure which would bring back up to around the high then drop it back down. It could actually do some different things... This leg could extend down also, so you gotta know how to enter and...
NZDJPY appears to be making a combo pattern.... It can make one more up within this pattern to top of fork, however 4 hr and daily are TDI turned down. It may just correct down from here. you had a small possible sell setup, but NZD news this afternoon, so I would wait and see if it provides any opportunity
I am not interested in selling EA again yet. Called the sell at the top, and the buy from the bottom BTW, just not in here. I expect some further correction up. I removed all my trend fibs and simplified for clearer chart. I see more downside but expect another leg up before any bearish continuation. I feel like the current pennant that it is in on 1 hr is...