AUDCHF: Swing Short Explained 🇦🇺🇨🇭
On the today's live stream, we discussed AUDCHF.
The market is trading in a long term bearish trend.
In the middle of August, the market started a correctional movement
within a bearish flag pattern.
After the price reached the confluence zone between a horizontal resistance
and a falling trend line, the market dropped and violated a support line of the flag.
It will most likely push the prices lower to 0.5626 - current low.
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Priceactionstrategy
USDJPY: Consolidation & The Next Bullish Move 🇺🇸🇯🇵
USDJPY is currently consolidating within a horizontal range.
Taking into consideration the fact, that the pair is trading in a long-term bullish trend,
probabilities are high that the market will resume the growth soon.
Your confirmation will be a bullish breakout - a daily candle close above 146.6 - the upper boundary of the range.
A bullish continuation will be expected to 148.0 level then.
Alternatively, remember that the price may also drop from the underlined blue resistance and keep consolidating.
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Double Top breakdown in GLENMARK PHARMAGLENMARK PHARMA
Key highlights: 💡⚡
✅On1day Time Frame Stock Showing Breakdown of Double Top Pattern .
✅ Strong bearish Candlestick Form on this timeframe.
✅It can give movement up to the Breakdown target of 710-.
✅Can Go short in this stock by placing a stop loss above 795+.
EURGBP: Time For Pullback 🇪🇺🇬🇧
EURGBP was falling for some time within a channel.
After a test of a key horizontal support, the price bounced and violated the resistance line of the channel.
It is an important sign of strength of the buyers and a highly probable bullish continuation.
Goals: 0.8615 / 0.8628
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Double Top pattern reversal in TVSMOTORS.TVS MOTORS CO
Key highlights: 💡
✅On 1 Hour Time Frame Stock Showing Reversal of Double Top Pattern.
✅ It can give movement upto the Reversal final target of below 1345-.
✅There have chances of breakdown of Support level too.
✅ After breakdown of Support level this stock can gives strong downside rally upto below 1290-.
Triangle pattern Reversal in GUJRAT NARMADA Gujarat Narmada Valley Fertilizers & Chemicals Limited
Key highlights: 💡⚡
📊On 1D Time Frame Stock Showing Reversal of triangle Pattern.
📊 It can give movement upto the Reversal target of Above 606+.
📊There have chances of Breakout of Resistance level too.
📊 After Breakout of Resistance level this stock can gives strong upside rally upto above 665+.
📊 Can Go Short in this stock by placing stop loss below 570- or last swing Low.
GBPCHF: Bullish Outlook Explained 🇬🇧🇨🇭
GBPCHF formed an ascending triangle formation on a daily time frame.
Its neckline was broken on Friday and the market closed above that.
I will expect a bullish continuation on the pair.
Next resistance - 1.1225
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AUDCHF: Multiple Time Frame Analysis & Bearish Outlook 🇦🇺🇨🇭
AUDCHF has recently broken and closed below a major rising trend line.
We see its retest today.
The price formed a descending triangle formation on that.
The neckline of the pattern was broken.
It is an important indication of the strength of the sellers.
I expect a bearish continuation now.
Goal - 0.5872
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GBPJPY: Bullish Pattern... Again! 🇬🇧🇯🇵
No surprise, GBPJPY is trading in a bullish trend.
However, after the price reached, 183.77 level at the end of June,
the pair started to consolidate.
The market formed a cup and handle pattern on 4H time frame.
Its neckline breakout will be a very strong trend-following signal.
4H candle close above 183.88 will confirm the breakout.
A bullish continuation will be expected to 184.5 level then.
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EURGBP: Top-Down Analysis & Bullish Outlook 🇪🇺🇬🇧
EURGBP broke and closed above a solid falling trend line on a daily.
We see its retest now.
The price formed a double bottom formation on that
and violated its neckline with a high momentum bullish candle.
I expect a growth now.
Next resistance - 0.8622
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AUDCAD: Trading Plan For Today 🇦🇺🇨🇦
AUDCAD is approaching a key horizontal daily support.
Testing that the price formed a double bottom formation on 1H time frame.
0.9 - 0.9002 is its neckline.
If the price breaks and closes above that on an hourly,
I will expect a bullish continuation.
Goals will be 0.9023 / 0.904
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EURGBP: Your Trading Plan For Today 🇪🇺🇬🇧
EURGBP is consolidating on a key level.
The price formed a horizontal range on 1H time frame.
To buy the pair with a confirmation, I would suggest looking for a breakout of the resistance of the range.
4H candle close above will confirm a violation.
Buy aggressively or on a retest then with initial target - 0.858 level.
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AUDCAD: Short From Key Level 🇦🇺🇨🇦
AUDCAD was steadily growing within a rising channel after it set a new lower low around 0.88 level.
The price reached a key horizontal resistance on Friday.
After the test of the underlined blue zone, the market dropped and violated a support line of the channel.
I expect a bearish continuation now.
Goals: 0.8837 / 0.88
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EURCAD: My Plan to Sell 🇪🇺🇨🇦
EURCAD is trading on a key horizontal resistance.
To short the pair with a confirmation, watch a descending triangle formation on 1H time frame.
If the price breaks its neckline, that will give us a trigger to short.
To confirm the violation, we will need an hourly candle close below 1.4607.
A bearish continuation will be expected to 1.4579 / 1.4555
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USDCHF: Your Detailed Trading Plan 🇺🇸🇨🇭
USDCHF pair is trading in a minor bullish trend.
The price sets higher lows, perfectly respecting a rising trend line on 4H.
The market is approaching the trend line at the moment,
To confirm one more bullish move from that, watch an inverted h&s pattern on 1H time frame.
Our trigger will be a bullish breakout of 0.8998 level - the neckline of the pattern.
The breakout will be confirmed with an hourly candle close above.
A bullish continuation will be expected to 0.9045 then
Alternatively, a bearish breakout of a trend line will trigger a bearish continuation.
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S&P500 Index (SPY) Pullback From Key Level
S&P500 Index reached a key horizontal support.
The price formed a double bottom, approaching that,
and successfully broke the neckline.
I expect a pullback at least to 4100 with a potential continuation to 4130.
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