Countertrendline
CAD/JPY: finally SHORTConfluences:
1/ Trend
2/ Fib play
3/ 91 as resistance
4/ High test candle ( 2 in a row )
5/ Bearish MACD
6/ We are bouncing of the 200 EMA on the Weekly chart
After day one of the trade, U can see that we broke the CTL, which is a great sign for this pair to finally head lower again.
It is not too late to enter, because today we got a pullback.
Target 89
EURUSD 60Possible counter trend line holding could be time for another push to the downside.? What do you guys think ...
GOLD 2HPrice on the lower time frame making lower lows & lower highs, we just got our lower high after the 3rd touch to the downtrend line rejecting a fib level as well showing a new lower low is likely to be made. Target is at weekly support / daily channel bottom ..
CADCHF 4HPrice has been moving sideways for some time now, & just recently we got a break to the upside & close above resistance. I have been waiting on this pair for some time now. A slight retest at the 50 fib level/trendline is likely I believe we are headed up now..
Bullish Butterfly UpdateStill bearish on UsdJpy to completion of Butterfly pattern
(See previous post)
Waiting for a bearish reversal pattern for entry
Retest of countertrendline
TP 1: 106.00
TP 2: 105.25
From there price action will be monitored for next impulse
AUD/USD AnalysisWe have three confirmations of AUD/USD Uptrend:
1. Before breaking the monthly support 0.79250 we see that it retraced from the 61.8 Fib and now it is continuing the uptrend.
2. We see AUD / USD Daily Candle Closed above 0.79250 Monthly Support and breaking the counter trend line.
3. Moving Averages on H4 Timeframe confirm a continuation of the uptrend...
Now I expect the pair to go up at least 130 pips.
Two Bearish SharksCurrently shorting AUDNZD
Entry @ 1.085
Break of Countertrendline
Reversal off Supply Zone and PRZ
Monitoring Price Action for signs of bearish momentum
To enter the market again
Potential Bullish ButterflyBreak of CTL on Daily
Waiting for a retest of TL to enter
I believe we can see further push down on UJ
Target @ 106.25
USD/JPY Short at Break of Counter Trend LinePrice is currently ranging in a bearish channel, a series of lower lows and lower highs suggests that a new lower low is expected. Price could create a lower high whilst breaking to the upside of the trend line, therefore hitting our stop loss. To mitigate this, entering after the break of the counter trend line (best seen on 4hr) and the support area should cause price to push down towards the bottom of the channel.
Brent Crude Oil - Break of Counter Trendline & Fib RetracementLooking at the weekly time frame, price has failed to break a bearish trend line. Within this, on the daily time frame, price is currently at the bottom of a counter trend line. If this is broken, we should see large bearish movement towards the 28.00 level. This target is where an ABCD pattern completes and where a fib extension completes. The overall trend is bearish, we are currently in a series of lower lows and lower highs, furthermore at the the top of the C leg is in the 61.8% fib entrancement level on the monthly time frame. Look for a break of the counter trend line for confirmation.
EURUSD Wait for retracement and SHORT CONFLUENCEGood confluence between a head and shoulders forming, a counter trendline test and a fib retracement.
Counter trendline break SHORT on GOLDWe've seen a holding of a long term trendline on the 4 hour in gold
Trigger is a counter trendline break, targeting the outer trendline @1240
AUDJPYSeveral Confluences, Strong rejections of level 87.5 & 88. The price is exhausted.
Weekly - Strong rejection of 88.00
Daily - Bullish exhaustion.
4h - Strong Bearish Impulses with small bullish candles(possible retracements).
Scenario 1. If the price counter trend holds and a break of the lowerline trend line support. A potential target would be 85.5(AB=CD pattern) with a strong Fib. Support.
Scenario 2. The counter trendline can't hold the price, further move could be expected. Potential Long entry.
Upcoming news for AUD this week :
Thursday 0:30 GMT+0 Private Capital Expenditure q/q(High Impact)
Thursday 22:30 GMT+0 - RBA Gov Lowe Speaks(High Impact)
USDJPY Sell Counter Trend Line BreakAnalysis:
========
Monthly StochRSI is OVERSOLD; monthly AB DOWN SWING - Price is moving down towards 1.618 TARGET
Monthly Las AB Down SWING: price is at .382 Retracement
Weekly StochRSI is GOING UP
Last AB Up Swing; Price is moving down towards 1.618 TARGET
Daily StochRSI is oversold - UP A (@ 111.824) B (@105.408) SWING - Price retraced back to .236 @ 110.098
Daily Counter trend-line is NOT BROKEN YET; wait for the counter trend line back; move STOPLOSS to Break Even if price drops near the backside of the down trend line and a bulish candle stick formation occurs; price can reverse to fill the VOID between inner trend line and last trend line
Daily BIAS is bearish
Daily - Pivot Point
4 hour StochRSI is overbought
2 hour StochRSI is overbought
First target 1.27 and 1.68 of AB Swing @ 104.00
2nd target 1.68 of AB Swing @ 101.438
Trade VALID if price breaks the last counter trend-line below the downtrend-line
Stop Loss 112.157
Take Profit 104.074
Risk Reward 2.49
TIME REQUIRED: NA
Retracement IchimokuThe current trend is bearish, almost all elements are in a strong downtrend.
The price vs. Cloud: It is under the cloud.
The price vs. Tenkan Sen: It is at 1.1089 87 pips below the Tenkan Sen
The price vs. Kijun Sen: It is 1.1089 to 87 pips below the Kijun Sen.
The Tenkan Sen vs. Kijun Sen: They are together and inclined. Indicating a strong bearish trend.
The Chikou Span: It is below the cloud in free fall, but has shadows.
Cloud Future: Bearish, Span A and B was inclined downward.
Although the Ichimoku shows a strong downtrend, a correction torque so fast and violent descent is expected.
Scene Bearish:
The next supports at 1.1042, 1.1005, 1.0946, 1.0880 and 1.0787.
Scene Bullish (countertrend):
The next resistance at 1.1142 and 1.1219. (Goals for this week).
GBPJPY REACHING 164.00After finishing an ABC pattern GBPJPY looks like its turning bullish and heading towards 164 area at least.We have divergence on H4, and I'll be looking for buy setups on lower timeframes after the trendline breaks.
USDJPY Sell @ Counter TrendLine BreakFX:USDJPY @ .618 Retracement of Down AB Swing
Counter Trend Line Break @ Daily Down Trenline
StochRSI over bought
Price Below 0.236 of last down AB Swing
STOP LOSS: 15 PIP ABOVE PREVIOUS HIGH; @112.157
TAKE PROFIT:
FIRST TARGET - Fib Level 1.27 of first AB Down Swing @ 105.408
SECOND TARGET - Fib Level 1.618 of first AB Down Swing @ 103.328
EXCELLENT RISK:REWARDS 5.25%
I will watch the trade over time and modify if necessary!!
ACTIVE ORDER SELL AUDUSD AT COUNTER TRENDLINE BREAKPRICE BEARISH FROM .618 FIB LEVEL OF DOWN AB SWING
BROKE BELOW COUNTER TREND LINE
BEARISH ENGULFING CANDLE STICK FORMATION AND RETEST OF THAT CANDLE
TARGET 1.618 FIB LEVEL
BUY GBPCAD ABOVE SUPPORT 1.90000BUY FX:GBPCAD
Counter Trend Line Break
Bullish Engulfing Candle Stick Formation/Bullish Bias
Support @1.9000 is holding/ Price broke above Previous Strong Resistance in March 2016
Price is above UP Trend line
4H StochRSI is OVERSOLD and GOING UP
Buy @ Market Price\
Stop Loss 10 Pip below Las Low Price
Target 1.27 Fib Level of last bullish AB Boundery
ABCD move with CTL into heavy confluenceI've moved my trade across from GBPUSD to GBPJPY with the looming FOMC etc later this afternoon.
ABCD with CTL breaks on the way up.
Bulls appear to be in control, collecting stops on the way up.
Confluence
- D1 completion (127% Fib extension of AB)
- 161.8% Fib inversion of BC
- 161.8% Fib extension of part CD move
- Previous Weekly high
- 127.00 round psychological round number
NZDUSDOverall it is still down trend in the daily.
Price broke and closed below the counter-trend line last Friday.
In weekly, a bearish pin bar was printed.
Looking to short from price rally back to the counter-trend line.
Reward-risk ratio have to be at least two for me to take any trades.
