Let me know what you think!
EURNZD has setup a Bullish Bat pattern and is in the process now of completing the C to D leg. I am shorting this down to 1.48, then looking for Buy opportunities once D is established. (.886)
Above shows an overview of the previous 3 years of the EUR/JPY. Above i have highlighted what i believe are a few key support levels in watching the meltdown of the EUR/JPY. The market has been consistently bearish for the past 12 months, and after the break of 120.00 we have seen a further decline to around 119.00. I believe once we see a break of the previous...
This pair is looking bearish after a second retest of support. Will watch to see if a breakout occurs. Will enter trade at around 81.750 and look for first TP of around 80.500. Confirmation from MACD and Stochastics are showing bearish signs too.
After 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.
The RBNZ decision is coming up tonight at 22 UK time. While the expected outcome, on paper, is for a stay of the current rate, economists seem to speculate a probability of ~ 20 % of a rate cut I think, which is high but not so much to discourage a stay setup. How can we trade this exciting piece of news? Two setups come to mind. This, the second one, is alligned...
The RBNZ decision is coming up tonight at 22 UK time. While the expected outcome, on paper, is for a stay of the current rate, economists seem to speculate a probability of ~ 20 % of a rate cut I think, which is high but not so much to discourage a stay setup. How can we trade this exciting piece of news? Two setups come to mind. This, the first one, is alligned...
Two equal moves named ABCD pattern predicts the expected reversal level in D. Let the market finish CD move and then sell (wait for bearish pin bars, etc). Red dotted lines are strong support/resistance levels can be clearly seen on 1D chart. Possible stumbles around them.
We have waited this moment almost 2 months and now triangle broken. First have to wait to break the top (0.68775) then we can hold longs till 0.72 area. For stop loss previous daily low or weekly low can be applied (depending on your money management).
Watch Support become resistance zone Short after confirmed. Target TP at the Lower Low
Long usd based on monthly setup. Entry 105.x Target 124
Currently watching USDCAD during a possible completion of another ABCD pattern . I will not be holding this trade until it reaches D because it could possibly form a double top. I'll be taking profits when it climbs back to B price point 1.318.
So we have 2 months down trend. On daily timeframe we can see a nice forming channel, maybe 0.50% fibonacci will hold we have brn ( big round number 0.7500 ). Next potencial long opportunity is at 0.618% fibonacci hold, daily demand zone.
Price rallied on friday following an area of consolidation. Bullish momentum to the upside. Confirmed with the cross between the MA's. Wait to see what happens on monday to determine position however, very much a bullish bias . Target 1: 10400 Target 2: 10700 Assess the market at critical levels of interest.