After break of trend line last week price came back to re-test the trend line which held up and now has pushed of it leaving a tweezer bottom candle formation in place which add too confluences. Also weve been getting higher highs and lower highs which clearly show bullish trend and momentum so for me i will be long on this pair Happy trading ;)
Hi guys, just sharing my idea and seeking for advice too. As i see it ( you might not see it as i do ) we should expect some retracement of the major up trend that this pair is having. To justify that we have price going below 200ema, break of previous structure, and a possible head and shoulders pattern, our target could be 0.5 retracement, and zone of support...
Very clean detailed S/R x Fibonacci retrace analysis, 62.8% retracement occurring last 2 candles suggest bullish momentum is dying out! This trade for me is a channel trade, I use Fibonacci and S/R to add confluence. Please zoom out and examine these areas The diagonal channel is 3 - 4 months old and very valid and we have seen price already bounce off the top...
Pretty self explanatory on the chart. My Daily and Weekly bias has now turned Bearish. Currently sitting at a Fib retracement point near resistance and IF we get the right price action i will be looking for shorts to make new swing low. Target 1 = 133.50 Target 2 = 130.50 Target 3 = 128.10 Please remember this setup is only in play if we get the correct price...
Nzd/Chf is showing a nice Bullish engulfing candle on the 4hr chart Just above 61.8% Fibonacci Expansion target - which now could act as a support The Stochastic indicator shows a slight bullish divergence too, and price seems to be rejecting the lows around 0.6260 I am long Nzd/Chf with a first target of taking out previous highs around 0.64, second target is...
Drawn S/R on W1 very strong levels, Fib retrace shows 38.2% reversal occuring CCI Dropping. First target 23.6% - Second 0% - Stop on kumo support but will we test it at all? who knows :)
Ok so i've seen this kind of pattern before when i lost alot of money but anyway by looking at this chart i think EUR will make a new low if it breaks that support which is likely becuase most of the people will enter for long positions here just because they think that last time EUR bounced from this point but this time it won't if the statement made by someone...
We covered all short positions made at 1150-1160 level at 1125-1135 level. Once again, price found support on that Green trendline - a rising higher low made since 2015 low of 1086. This further suggest that Platinum is also trading in a Symmetrical triangle pattern with a biased for further downside. 1) Break above 1186 we will go long or 2) Break below 1115...
We are awaiting a break of the range base before activating long term shorts. Providing this happens as expected we will first target the -27 fib extension at 0.7360 followed by the support level of 0.7210 which is the range height added on which aligns with historic levels of support and resistance.
price is at the top of a descending channel with a previous 2 touches. momentum is also bearish on higher time frames, if AB=CD then high probability of price reaching 161.8 ext in accordance with harmonic structure. MA are in correct positioning and 127 and 161.8 ext are in confluence with previous major support levels on weekly time frame. Risk-reward ratio...
Chart says it all Tweezer double bottom forming on AUDUSD.
CLF was in a long term strong bear channel that broke out to the upside on a climax in late July and is now in the process of pulling back to retest the trendline. The test will come at around 14.50. A couple of trendlines support that price and the bear channel will fall right into it. There is such strong selling that I think the best the bulls will get after...
GOGO is forming the following bullish setups: 1) Head and shoulders bottom, but not yet completed 2) Pullback in a strong bull trend 3) Broke out of trendline, and breakout failed, thus pulling back perfectly to the trendline 4) Price is at a 50% retracement level from the $20 swing high 5) Bull channel and trend in progress This looks like a good setup for a...
The price of EURUSD almost touched one year low. A positive divergence has been drawn on the H4 and Daily time frame so we could expect a bounce from the current levels.
We've got a ton of markers happening here signalling an incoming counter-trend (from bearish to bullish). SIGNALS: 1. Double/triple bottoms (depends on how you look at it) testing a long-term support level over and over. 2. RSI shows a clear bullish divergence happening right now. 3. Steep decline trendline hits all the retracements' highs beautifully. GETTING...
Idea is based on a combination of Elliot wave theory and median line analysis. The rationale behind this technical analysis is shown on the chart along with a specific target and stop loss ( daily close at this sl invalidates the idea!). Good luck!
I am still waiting for an up break, at least before the ECB monetary policy meeting from Thursday. Even though the Euro got pretty strong for the European economy to be handling, nobody seems to be interested in the US dollar. On a short time frame, I would see a break above 1.3890, followed by a 50 to 60 pips rally.
Today was another options expiration day and with it comes some interesting information about current market structure and where the smart money might be leaning going forward. While there was no 'freebie' Euro close rally into options expiration setup today (because Russian news keeps bidding price up) it was very interesting to see how 'they' closed USO out at...