EURCAD Short: Free Fall if Lows Are BrokenHey traders, we have another head and shoulders CAD long play here on the EURCAD cross. I'm in if we break lows with SL above recent highs, target at 2:1 and MTBE at 1:1. Cheers
Glennmercer
USDCHF Short: Descending TriangleHey traders, here's a breakout pattern on dollar swiss cross. Short is active with 1:1 B/E level and target at .786 fib.
AUDNZD Short: Potential Triangle BreakoutHey traders, looking to short this breakout should one occur. I have a sell stop set below lows with 1:1 B/E level and target at 1.272 extension. Cheers
GBPCAD Short: H&S + Channel Breakout = Power ReversalHey traders, we have a big potential reversal pattern here on GBPCAD. H&S has completed on the 1H with many missed pivots below. Channel breakout will provide resistance against SL. Trade only active at limit and move to B/E target is 1:1. Cheers
GBPAUD Long: High Base Ascending Triangle BreakoutHey traders, looking for a bullish breakout to continue the bullish impulse on this pair. MA cluster may provide additional support. SL @ 1:1 with target at 1.272 extension. Cheers
USDJPY Potential Short: Power ReversalHey traders, this pair has broken some short term support. This is a potential scenario if the pair does in fact continue to show weakness, which means this is a sell stop order and is not active unless price reaches entry before invalidating the trade. Big R/R if successful. Cheers
USDCAD Long: Bullish Breakout - Ascending TriangleHey traders, USDCAD flipped the scrip on us and is continuing its bullish momentum. I like the R/R and the support under entry. B/E at 1:1 with a target at the 1.272 extension at a R/R of 2:1. Cheers
USDCAD Short: Breaking Out of Rising WedgeHello traders, looks like USDCAD may break out of its rising wedge. As expected we are seeing some volatility surrounding the FOMC minutes but the pair seems to be consolidating below the breakout line. Breakeven at 1:1 with a nice R/R for final target. Cheers
EURNZD Short: BIG Potential Reversal - Huge R/R - Gap Fill?Hey traders, I really like a short here. All of these missed and unhit pivots are magnets for price. In addition to that, we have an unfilled gap down below. SL and Targets on chart with breakeven level at 1:1. Cheers
NZDJPY Long: Rally To Missed PivotsHey traders, here's a NZDJPY cross trade. I like the price action off of the short term moving averages. Lots of support between entry and SL. Targets are big, with a nice R/R. B/E @ 1:1. Cheers
GBPCAD Long: Bullish Channel ContinuationHey traders, we have an impulsive breakout toward channel continuation. B/E @ 1:1. Target at 1.618 Fib. Cheers
EURJPY Long: Ascending Triangle - Potential BreakoutHey traders, clear resistance forming here at the 122 level. I am long above 122.14 and targetting the 1.272 extension. Drop below 121.275 will invalidate this setup for me. Cheers
EURNZD Long: Bull Flag BreakoutHey traders, I like a long here above resistance. There is likely a density in demand here for both a short squeeze play and a long entry. Breakeven at 1:1. Cheers
Keep an Eye on Cable! Potential Bull Flag BreakoutHey traders, here's one to keep your eye on throughout the London and New York sessions. Buy stops set above recent highs targetting 1.272 extension... Nice R/R. Cheers
$GBP Bearish Bias in the Pound this weekCan we keep the pound contained within its bearish channel? If so, expect some powerful bearishness. Only bullish above recent highs.
This WeeK: Uncertainty => Yen Bullishness $JPY $JXYHey traders, I expect this currency to continue north. There's too much uncertainty with Trump's follow-through on policies, North Korean nuclear testing, Syria and ISIS. I like this one long. We also have some technical lining up as shown on the chart.
$ZXY $NZD A few different short scenarios this week #ElliottWaveHey traders, I wanted to share some short bias on the kiwi for this week. There is clear trendline resistance coming up. If the trendline is broken, be careful trading the breakout as it may be the completion of wave-((B))-of-y. Cheers
USD Ready to pop? Possible upcoming powerful rally $DXYHey traders, we may have seen the completion of bearish Wave-B last week which means this a potential powerful rally may be forthcoming in the next week or two. Alternatively, a bearish breakout would require a recount. My bias is to the upside despite the political uncertainty.
AUDUSD Short in Anticipated Continued Downside: TriangleHey traders, this bearish candle at resistance indicates a potential continued downside. Optimistic target is the bottom of the wedge. I like a target at the missed monthly pivots.
GBPCAD Short: Minor Support Broken, Retest .618 Pitchfork LineHey traders, there's been a break of minor support on this pair. I like the pound short and the CAD long this week. However, keeping an eye out for GBP CPI data coming out in a few hours.
Kiwi Respecting Modified Schiff in Exanding Wedge $NZD $ZXYBias is toward the downside as we see the kiwi respecting a modified schiff through a potential final leg of an expanding triangle. If top resistance is broken, this bias will be re-evaluated. For now, target is near bottom trendline and bottom median line parallel.
Short Bias for the Yen This Week All Around $JPY $JXYHey traders, I like the yen short this week and potentially the weeks to come. Many EW counts leading to continued downside. Details and wave count on chart. Cheers
Bullish on Swiss Franc: Elliott Wave Count - $CHF $SXYThe franc may find support at the existing bottom trendline this week. If the bullish rebound is corrective, we would have confirmation of a potential triangle and look for shorts near the top. For now, I'll be eyeing bullish breakouts from the parallel channel created last week.
