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AUDCHF Preparing To Drop (2 Year Ascending Wedge)Price has broken out of a 2 year ascending wedge to the downside and is now pulling back to retest the bottom of the pattern before it continues its drop. We bounced off of the monthly .5 fib level last week which formed a fantastic outside reversal candle, taking out the previous weeks low and then closing above its high to finish the week. This aligns with the giant 6 year ascending wedge on the USDCHF 0.16% (easy to spot on the monthly line chart) Opportunity -I'm watching for a nice high at the 50 day moving average/fib/bottom of wedge to then short down to the yearly .5/.618 fib area between .673~ and .648~ I'll post specific targets and entry data if/when some nice techs form... Checkout my website @ PatsTrades (link is on my profile page below my picture) for my analysis on other trades like this and subscribe to avoid missing out on ideas and entries. Thanks!!
Short
by patrick186
Watching GBPUSD to regain bearish momentumWe will be watching to see if GBPUSD can regain its bearish momentum before the Fed announces interest rates on Wed. Although the street does not anticipate any move by the Fed, they may give a hawkish tone and if so that should add fuel to the short side. With that said we will be looking for a close below the short-term trendline on the hourly chart along with confluence from our price prediction algorithm. If we can get that setup prior to the Feds announcement we will be taking GBPUSD short while correlating it with GBPCHF to give us protection.
Short
by unique4x
EURJPY Could Breakdown TonightEURJPY could breakdown tonight with a close below our short-term uptrend line. If we get that close in conjunction with our proprietary price forecasting algorithm we will be taking EURJPY short along with a Long position in CHFJPY which will provide a correlation opportunity. By correlating EURJPY with CHFJPY we will be greatly reducing our directional risk while providing us an opportunity to profit in many different ways, even if our EURJPY call is incorrect. More information at www.unique4xpro.com
Short
by unique4x