Fibonacci Cluster
More clues make an evidence!Hi guys,
i want to bring your attention to this situation on CADJPY. Here we are on the 4hr chart but i usually start my top down analysis from the daily. On the daily i've outlined with the black line the structure level where price is sitting right now. This is the first thing i look for to create a case for entry.
Also, in the dialy timeframe price has recently gone oversold.
As we go down on the 4hr you can see how price has reacted to that level. At the first test there's a pin bar (long wick), at the second test price fails in making new lows.
What does it tell us? Maybe trend is changing.
In addition to that, the RSI on this timeframe is in divergence.
All this clues together boost my confidence on this particular trade.
Stops below the low.
Target1 at 1,20 RR roughly, target2 to be determined.
Let's see.
If you want to share your viewpoint, please don't hesitate to comment.
Otherwise, see you in the next chart!
More clues make an evidence! (CADJPY Analysis)Hi guys,
i want to bring your attention to this situation on CADJPY. Here we are on the 4hr chart but i usually start my top down analysis from the daily. On the daily i've outlined with the black line the structure level where price is sitting right now. This is the first thing i look for to create a case for entry.
Also, in the dialy timeframe price has recently gone oversold.
As we go down on the 4hr you can see how price has reacted to that level. At the first test there's a pin bar (long wick), at the second test price fails in making new lows.
What does it tell us? Maybe trend is changing.
In addition to that, the RSI on this timeframe is in divergence.
All this clues together boost my confidence on this particular trade.
Stops below the low.
Target1 at 1,20 RR roughly, target2 to be determined.
Let's see.
If you want to share your viewpoint, please don't hesitate to comment.
Otherwise, see you in the next chart!
EURCAD Bearish Cypher ShortBearish Cypher Pattern
RSI OB + DIV
Downtrending trendline off daily chart
Structure S/R
88.6Fib Retr + 127.2Fib Ext = Confluence
Previous Support Becomes Resistance
Hey guys,
some simple price action analysis here. On the daily timeframe price is going to retest previous support that once broken should become resistance. On the lower timeframe (4h) we can see some different clues pointing in the same direction: first, a butterfly pattern that's completing very close to the structure (black line), second, a .618 and a .382 fibonacci retracements, third, an AB=CD pattern that's completing just a bit above the black line.
So, what i would do is wait for price to enter the blue zone and see what's the price reaction to that level, while looking for some weaknesses signals, in order to sell at market.
I'll keep you updated.
If you have any question, feel free to comment below.
Otherwise, see you in the next chart!
Previous Support Becomes ResistanceHey guys,
some simple price action analysis here. On the daily timeframe price is going to retest previous support that once broken should become resistance. On the lower timeframe (4h) we can see some different clues pointing in the same direction: first, a butterfly pattern that's completing very close to the structure (black line), second, a .618 and a .382 fibonacci retracements, third, an AB=CD pattern that's completing just a bit above the black line.
So, what i would do is wait for price to enter the blue zone and see what's the price reaction to that level, while looking for some weaknesses signals, in order to sell at market.
I'll keep you updated.
If you have any question, feel free to comment below.
Otherwise, see you in the next chart!
EURUSD Outlook for week commencing 12/02/17 (Cautiously Short)uk.tradingview.com
On a 4 hour basis, a 4 hour sustained close below 1.05959/1.05810 cluster area (purple arrow) should open up route to 1.04515 key support level (green arrow). However we are attentive to bullish divergence seen between 4 hour MACD and price (black lines). On the upside, a 1 hour sustained price close above key resistance 1.07111 (blue arrow) will open up route to near 1.08092/1.08512 cluster resistance zone (brown arrow). A daily close above the 1.08092/1.08512 cluster resistance zone will open up 1.10473/1.11104 cluster resistance zone as target (orange arrow).
Happy trading and may the pips be with you!!!
CADJPY Possible Harmonic Move? I Haven't traded this pair but need to practise my Tekkers so thought id give this pair a go, from top down Monthly, Weekly, Daily levels and see what I could see and practise my strategy
First thing that stood out was we have tested the Monthly level at 88.882 which seems to have been a strong area of resistance in the past.
I then see we have a 2618, it went more to the 786 level but still a strong sign that we could see a trend continuation to some lower levels, so where do I think based on what I can see and whats happened?
Looking at a fib inversion and extension we have a couple of 1.27 levels line up, also looking a the most recent impulse leg up on the daily/weekly we have the 786 level come in as well, look left and this does fall in line with some previous structure as well
This move down would also be a equal measured move to the last impulse leg down.
will see how this plays out, always good to exercise that idea muscle
CADCHF to retake the SHORT trend?CADCHF during the night was hammering on a Fibonacci Resistance and bouncing between Fibonacci Clusters and the Indicators were showing Divergence.
Decided to go for a Swing trade and Compound ~0.7662
SL just above the resistance
Fibonacci levels did their job properly this time
:)
Let's see if the pair continues its rally short
XAUUSD - Potential reversal zone (Midterm)I will be looking for a sell setup inside red box (0.5retr BC wave + 1.272-1.618ext + AB=CD completion).
Bearish divergence on 1D chart.
Full moon coming very soon. I expect short-midterm trend reversal.
TP1: 1196
TP2: 1177
TP3: 1160
Trade responsibly.
GBPCAD: a curious configurationGBPCAD closed the day in a very curious configuration that deserves being observed for potential action.
The price touches the trendline and on the Weekly (below) and on the Daily.
However, the closer zoom on the H4 timeframe in the main chart shows that the price actually broke out the downwards trendline.
Now the peculiar thing is that this level:
Sits on a 50% Fibonacci level taken from the weekly higher 2 times back.
Is just above the 50% Fibonacci level taken from the latest lower high.
Is just below a Fibonacci cluster made by the one taken from the weekly higher 3 times back and the one taken from the latest lower high.
All in all the configuration is not one we see every day: not that I expect the price to bounce back and forth like a flipper ball, but this is not a moment for me to jump in.
Unless the Fibonacci cluster sends the price decisively below the trendline, the first hours of the market see me #NEUTRAL on this.
GBPUSD Possible Breakout 1 hr chartBearish Flag / Breakout Possible on the Hour chart,
We have come down and retraced to the 618 on the Impulse leg.
The fib extention of 1.27 and fib inversion of 1.414 line up with the lowest pin bar on the daily.
We are oversold in the RSI as well
NZDUSD The coming weeksAs its a new Week I have been reviewing the weekly chart to get a better idea of the overall move.
On the lower time frames my Initial thoughts were short but looking here I think we could see a rise.
Short term I do think we may see a retest of 0.70000 area the fib retracement on the most recent Daily impulse leg up gives us a 618 at one of my weekly key levels of 0.68745, this is the area id be looking for Bullish signs to buy, we could see a move before this but this would give the best RR.
Longer term we have got a Bullish Flag pattern forming on the Weekly chart. Using the Fib inversion on the recent pull back it gives us the 1.618 up at previous structure, the fib extension also gives us a 1.27 at this area, one last bit of confluence is the fib retracement on the big impulse leg down gives us a 618 at this same level.
would use the lower time frames for entry and would be watching the 0.73000 level for possible resistance.
GBPJPY very nice confluence!Hey traders,
i've kept an eye on this pair for a few days now. The AB=CD pattern is now complete and we are sitting right at the structure level i waited for (black line).
We also have a Cypher already completed, a psychological number and RSI divergence.
This level happens to be 38.2 of the daily's impulse leg.
I only need a candlestick formation in order to enter long. Risk to reward ratio seems very nice.
If you have any question or remark, please comment below.
Otherwise, see you in the next chart!
Confluence on AUDNZDHey traders,
another analysis i really enjoyed today. This is one of my favorite style, for youhave to support your view by adding more and more clues (of value) to your side.
Here on AUDNZD we are at a bigger Gartley completion, and we can see a nice AB=CD pattern and a Fibonacci cluster all right there. In addition to that, we also are in an OVERBOUGHT condition on RSI.
Obviously if you scroll the chart you can see there's also a structure level on the left.
The confirmation signal is given by the current engulfing candle.
Entry at market, stops and targets as in the chart above.
Let's see.
If you have any question, please ask beneath.
Otherwise, see you in the next chart!
Deep Gartley on NZDUSDHey guys,
after being stopped out on the USDCAD trade we're back on track. This NZDJPY trade is similar to the previous. I want to pass down to you the philosophy of being on the majority side.
The more clues (that matters in the market) you have, the more likelihood the trade will have.
As explained above, here we have a deep Gartley formation that is already completed. As long as price won't touch the first hypotetical target though we will wait for another pullback into the entry level.
Being so deep, it makes the risk to reward ratio very appealing.
In addition to the advanced pattern formation we have different clues that make me predict an upward move.
Let's see how it goes.
If you have any question, please ask beneath.
Otherwise, see you in the next chart!
Some confluence on USDCADHey traders,
today i want to bring an unusual analysis for me.
This analysis is made of different clues, all pointing in the same direction. When trading you have to be on the majority side and collecting different evidences puts ourselves on the side of more and more traders. This way we can boost our confidence and the likelihood of this opportunity.
The clues are written above, and another thing that make me confident on this trade is the over extension of this market.
Usually when we have such a big move a period called "profit-taking" comes, thus creating a bigger retracement in a still bearish market.
The reason for entry would be the current engulfing candle. If it will close too big, i'm going to wait for a pullback and then buy the market.
Let's see.
If you have any question, please ask below.
Otherwise, see you in the next chart!
USDCAD FIBOEXT+FIBOINV+STRUCTURE SHORT TRIALAs subject, there are several FIBO EXT and FIBO INV projection in the yellow zone, and resistance structure is just on top of it. So let's watch the kindle reaction inside the yellow zone, and get ready to short!
GOLD: The Next Pullback Into A Potential ShortLooking for a simple trend continuation trade here on gold as the market consolidates in it's latest pullback. The "Initial Killzone" that i drew out is a combination of the two bigger killzones that I've identified combined with levels of Fibonacci ratio confluence.
If you were to zoom out to the daily chart you'll also notice a previous level of structure support that may now act as potential resistance rest there as well.
Speaking of the daily, i'm getting somewhat of a mixed signal from the chart. An initial looks shows clear sailing down to 1100-1050's level, however I would suspect that the previous level of inside consolidation won;t make that ride so easy.
Not to mention the unexpectancy that comes with this being a non farms week.
