GBPNZD Pending Bullish Cypher PatternIn case price retraces to the lower lower parallel of the modified schiff we will have the completion of a bullish cypher pattern. I will go long with sl and tp as shown at the chart
Modified Schiff Pitchfork
USDCAD Bullish Cypher Completion at Slide ParallelPrice has retraced to the slide parallel of an upsloping median line where we have the completion of a bullish cypher pattern. We may see that at the slide parallel price has been rejected twice in the past so most likely this pattern will work great and we may see price jumping from D point. If you can't afford placing sl below X point, watch for a buy setup at a lower timeframe
USDJPY: Nice Level To Watch For A Buy SetupPrice is moving in a corrective structure after an impulse up move, and is now heading to the lower parallel of an upsloping modified schiff pitchfork with an active slope. If price reaches the parallel we should start watching for a buy setup trying to catch the next impulse with a tp at the median line. If we identify no setup at the parallels , we should wait for a breakout above the correction and watch for any pullback once again at the parallels. In conclusion any time price tests the lower parallel of the pitchfork we should watch for longs.
USDCAD Price At Key Buy LevelPrice has retraced to the lower parallel of a modiffied schiff pitchfork where we have previous structure and we should start watching for a buy setup completion. In case that price continue dropping, if it reaches the slide parallel of the set we will have the completion of a bullish cypher pattern. That would be a good buy opportunity too.!
Cypher pattern
NZDJPY In a Strong TrendNow that the kiwi got stronger, NZDJPY got into currently one of the strongest trends, at least temporarily. As price returns to the pitchforks' junction I think new buying opportunities should show up. Worth keeping an eye on this market next to the November fx leader - USDJPY. The chart presents three forks drawn with the same method: Modified Schiffs with inverted B and C pivots - it is a method I have found to be useful, when trends are particularly strong, uncanny or unwieldy and regular pitchforks fail to explain price action. Like it or not, this pair has been following such forks recently and it's now exhibiting a particular exuberance. The 91 level is in sight and it doesn't seem to be much of a challenge to this market.
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Disclaimer:
There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
EURJPY Trending DownThis currency pair is in a relatively strong down trend, following a modified Schiff. The EUR is still pretty weak, whereas the JPY is the strongest of the major currencies. Now that the major low to the left has been taken out, I expect to see new lows. There should be some support around 135.25, coming off the prior highs, but it can dip as low as 134.
NZDUSD SHORT LONG SETUPIDEA 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 SPECIFIC TARGETS. THIS IDEA IS NOT MEANT AS TRADING ADVICE!! IF YOU COPY MY SETUP PLEASE DO SO ON YOUR OWN RESPONSIBILITY. GOOD LUCK
EURGBP COMPREHENSIVE LONG TERM FORECASTIdea 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 specific targets and stop loss. Unfortunately due to the dynamic nature of my entry point, for the short setup, I can not give you an exact stop loss. Good Luck guys.
BTC Going down!Idea is based on median line analysis, Bollingerbands are used to identify reversal signals and breakouts/breakdowns. The rationale behind this technical analysis is shown on the chart along with concrete targets and stop loss (a close above it invalidates the idea. Good luck guys. Appologies for the font size somehow it is way bigger than was shown on my screen!!!
USDCHF short setupPrice has tested a sliding parallel of the slope( that dates back to 05-22-2013) multiple times and couldn't close above it. Additional reasons for entry can be found on the chart. Good Luck
CHFJPY Down Trend ContinuationCurrent price action seems to be following the slope of this modified Schiff Median Line set. Has it found support yet? I don't think so, as the potential buyers would have a problem with placing their stops here, so I expect a further decline. The CHF continues to be very weak and its momentum is now flagging. The JPY is doing quite well, it is strong and gaining momentum.
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Disclaimer:
There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
AUDJPY Done Correcting?This pair seems to be finally done correcting. Has found support at the sliding parallel of a modified Schiff pitchfork. If it holds, we should see a rally up to the 95.75 level, or perhaps even to 96. Otherwise, the correction will continue to reach 94.22 or (less probable) even the lower median line parallel.
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Disclaimer:
There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial adivice.
