EURAUD Pattern within the structure Hi everyone we have a pattern while lies within the structure.
The first target is 1.48674
Second target 1.49275
Third target 1.49847
Fourth target at 1.50620
Fibo
LONG FB TO 102Wave 4 has met a high probability reversal level at the confluence between a .382 retrace of wave 3 and the price zone of the previous degree fourth wave. Wave 1 time to completion provides a forecast for wave 5 completion time. Price range of wave 1 as an extension from current levels coincides with 1.272 extension of wave 3 and provides a target for fifth wave completion price. A second target may be placed at the 1.618 extension of wave 3. This level was targeted by wave V of 3 and may again become an important level in the upcoming wave 5 structure.
GBPAUD 4 HR LONGTEXTBOOK SETUP. PULLBACK TO THE 38.2 FIB WHICH IS IN LINE WITH STRUCTURE LEVEL. AUD IS STILL FUNDAMENTALLY WEAK, THE CURRENCY NEEDS TO GO LOWER TO SPUR GROWTH SO PAIRING IT AGAINST THE POUND IS A HIGH PROBABILITY TRADE BECAUSE THE POUND IS THE 2ND STRONGEST CURRENCY AFTER THE DOLLAR. WE'VE HAD A TWEEZER BOTTOM AND SUPPORT FOLLOWED BY A HAMMER REJECTING OFF THIS LEVEL. FIRST TARGET ON THIS PAIR IS AT 1.9800
2015.05.14 18:36 EURUSD 5min PUTEven though a small Fibo retracement can give you a beautiful trade.
Entry point and confirmation of entry is very important here.
2015.05.14 18:07 EURUSD 5min CALLThe candle at 18:06, which passed through my confirmation was actually not strong enough. Although I caught another pullback, this one is not as beautiful as the one before.
2618 setup on NZDUSDAfter double topped, the kiwi made a strong break down and now it retraces to 618 area, which could be a nice selling oppurtunity with two potential targets and stops above the double top - as it is written above.
Golden proportion seems to be a very strong resistance.If you are seeking the answer why has the SPX500 stopped at this strange area and stucked, I got the answer :)
The golden number is a key this time as almost always in technical analysis. This two lines corresponds with 1.618 of two different market moves:
2120 is the level of 1.618 extension of the previous bull run ended in late 2007
2072 is the level of 1.618 extension of the last bear run started right after.
So what?
Notice that 2120 is a very strong resistance tested many times and it is placed exactly on 1.618 of the last bull run. This place is highly probable to be the top of the current 7 years bull run in my opinion. But if resistance will not hold the price this level will be very strong support for prices to attack next important 1.618 level around 2300.
2015.05.11 20:03 EURUSD 5min CALLAlthough the bullish power was not strong enough to create a new day's high, it was enough for me to get profit in 5 minutes.
EURUSD confluenceR1 level and previous resistance confluence at 1.114. First target 1.047 - previous bottom, could create first wave after correction and continue either to fall till 1.005(fibo ret and s1) or bounce of it till 1.072 and then fall to second target 1.005. Wait for price action to confirm this move for lower risk.
USDJPY: 3 Potential Advanced PatternsMultiple potential advanced patterns setting up on the USDJPY all around the same area. We've yet to break out of this consolidation, but if we do before Friday's Jobs number, we have a good location to look for our next short.
Before I get a million nasty messages no, I don't think dollar weakness and Yen strength long term, but that's what makes me a "Trader" and not an "investor" I don't have a long term bias when trading on shorter term charts. I take the setups as they come bullish or bearish despite my personal fundamental outlook.
30 Days OutlookAnnotations on the chart.
This is an update of my last chart "Anticipatory layout with important trend lines, levels, time fibs"
Anticipatory layout with important trend lines, levels, timefibsWe might be cought in sideways within the red channel for another 20 days.
I look at the Willy or MAGNUS™ indicator and compare it to a similar situation we had a couple months ago.
The yellow box had some rangebound action in it with a little breakdown in the middle ( just like we had it now ).
The question is what will happen after the yellow box? The red box like last time?
Then we will definitelly see 280 again.
Or if 320 holds (looks like some strong demand is sitting there),
we'll see another pump like seen in the last green box !
Also check out the time fib analysis :
0.382 & 0.618 were important points in time, so 1 will probably be important too! Likely a major low/high in price.
The target for a bullish move is the thick blue dashed line, which is this years top resistance trend line. You can expect sellers there.
Nikkei at f5 resistance / big channel retestCurrently Nikkei is at resistance of a f5 and a level in which was previously retested in line chart.
It was also halted at the channel trendline.
A successful test at h1 will be meaningful but unfortunately I do not have access to h1 charts for futures.
However this can be translated to other JPY crosses and I also see similar distribution patterns on these crosses.
Higher rates thoughts push down EurStay short EurGbp or, if you prefear, long GBP!
Since the macro economic data started to improve, the pressure on the exchange rate has became stronger. The beginning of rates normalization will make the UK's currency more expansive versus the Euromoney.
At the same time, the chart seems to confirm the bearish view: It is unlikely (given also the macro-analysis) that the price will brake-up the current level @0.7895, looking also at the RSI oscillator (in 60 area), we have no signs of bullish trend beginnin. My view is that the price will continue its down trend, following the channel you can clearly see on the charts.
Take care of 0.78 area that could be a strong point of inversion or continuation of the trend.
AUDUSD awaiting AUD news on tues n wedMy bias is for short. There is a confluence of
- d1 line chart; day tf suggests a distribution pattern in place. ( red lines)
-d1 fib5
- h4 channel top
- h1 channel top with macd divergence
What I really wish to see is for price to be kept pushing higher till Tues or Wed when price exhaustion can be suggested and short will be possible. Hence my plan is not to commit till the eleventh hour, and only act when fakeout is hinted and act upon it, likely just before news.
USDJPY Gartley PatternThis Gartley completion lines up with a major structural shelf on the Daily chart. Try as it may USDJPY has been unable to make a move lower.
