EURUSD SHORTERM BREAKOUTI spotted a possible breakout, shorting till resistance line or 38.2 fib, then going long after pullback.
Pullbacksell
CHF.JPY 4H ShortShorting the recent bullish move move in the established downtrend of CHFJPY.
Low volume on bullish move = weak momentum
RSI needs to cross through the middle line
ABC corrective pattern needs to complete around 109.50
Entry at 109.5
Stop at 110.5
Profit at 105
ETH wants to pullback !! Long closed! First ETH short of 2017! Market totally Exhausted. big chance of a pullback here.
I closed my long today, i been longing ETH for the last 3 months during the 2017 reversal.
i think we will see our first major pullback here to allow some fresh money & take out some fomo longs.
Open - 2430
target one - 2050
target two - 1850
Stop - 2700
As always with all altcoin trading we will be reviewing our position in trade, these markets are very small with liquidity & orderbooks very thin.
As we are trading against the longer trend here the position size will be fairly small. Fund management is essential, always protect your bankroll.
Good luck all
AUD/USD downtrend continuation Bearish pennant formed indicating a continuation of the downtrend. This market is coming up to an area of resistance which should trigger some movement to the downside and make a new low. NFP later this week so hopefully out before that.
GOLD: The Next Pullback Into A Potential ShortLooking for a simple trend continuation trade here on gold as the market consolidates in it's latest pullback. The "Initial Killzone" that i drew out is a combination of the two bigger killzones that I've identified combined with levels of Fibonacci ratio confluence.
If you were to zoom out to the daily chart you'll also notice a previous level of structure support that may now act as potential resistance rest there as well.
Speaking of the daily, i'm getting somewhat of a mixed signal from the chart. An initial looks shows clear sailing down to 1100-1050's level, however I would suspect that the previous level of inside consolidation won;t make that ride so easy.
Not to mention the unexpectancy that comes with this being a non farms week.
Australian dollar analysisAfter an impulsive move down to break a 6 month support, the Canadian dollar has found some support and spent the last 5 days in retracement. As price approaches the 38.2 Fibonacci retracement level of the current downtrend, we see that same level shows to also be previous key support and resistance. Watching the .75 key level for reversal and downtrend continuation.
D - CADJPY - Bearish IdeaThe Price is still holding the same structure and the Engulfing candle telling me that A bearish Pullback may take place
If the price reached 77.290 I will activate the trade, because I want the price to sink under the RSI 50% to make me more confident about this position :)
Triangle break, pullback and shortEU chart is in a triangle on 15mins chart but still posting higher lows. However, there is a potential trade for short on the breakout pullback and short entry. If there is a breakout to 1.1136 level an dthen a pullback to 1.1147 level then shorting with atarget os 1.1115 can be a good trade. SL
GBPUSD Pull BackThe USD is finally starting to show its strength for this week, and should continue to force this GBPUSD to go down. This pair dropped quite a bit below the emas even though they haven't crossed yet. This is doing what the AUDCAD did about a week ago. This pair should roll back up to catch its breath, and then drop. I expect it to run up to 1.4605, and then drop.
POTENTIAL BEARISH CYPHER PATTERN ON AUDJPY POTENTIAL BEARISH CYPHER PATTERN ON AUDJPY
Predicting Price Will Drop At 83.643
USDCAD 4 Hour: Bearish Trend Continuation SetupNow that we've closed the New York session by putting in a LLLC below the 128.30's level, I'm now predicting to see a bearish continuation here on Canada. When will it happen? How will it happen? Who knows, that's the markets decision. All i can do is use my skills of technical analysis to try and make the best prediction that I can.
After being broken, previous structure is typically retested. In this case that would mean support turning to resistance. So what i'll be looking for is a chance to enter short as the market becomes exhausted and finds some relief.
The 129.00 price is a great psychological level, but my initial kill zone will begin as low as 128.50's. We'll be tracking this as the week progresses in my Live Trading Room but I'm certainly in no rush to "get involved" until my rules for entry are met.
With a handful of news events setting up for tomorrow including USD Retail Sales, PPI and CAD Monetary Policy/Rate Statement I'm in no rush to jump in a trade that I'm not 100% sure I want to be in.
Excellent day of trading today gang! And if you didn't see the video I produced explaining why that's not always a good thing make sure you head over to my Youtube channel and check it out.
Pullback from medium resistance to strong supportUnits: 1,600
Quote: 1.1085
SL: 1.1144
TP: 1.0808
ATR: 59
Take profit: $44.42/277.6 pips
Stop Loss: $-9.34/-58.4 pips
Pullback from strong resistance to medium supportUnits: 1,100
Quote: 1.4590
SL: 1.4677
TP: 1.4137
449 pip move
USDCAD: The Type of Consolidation Patterns I LikeI want to start things off by saying I don't expect to see much action at all in the markets today ahead of this afternoons FOMC statement. However, I did want to follow up on the USDCAD idea that I shared with you yesterday.
After creating a NSL we are now retracing back into previous structure. I often explain to the traders I work with that I'm not a consolidation pattern trader (think flags, pennants, triangles, etc.) unless they occur inline with underlying analysis.
In this situation my analysis was looking short and the consolidation pattern happens to come into previous structure, so this is one that I would actually interest me.
Thanks for all of you that joined me on Youtube yesterday as I live streamed the first 30 minutes of my Live trading Room. The recording is up if you didn't catch it and I'm looking forward to seeing a lot of you in the room for your free week trial.
Good luck today traders and DON'T force anything as these slow markets can be very tempting for those lookign for action.
Akil Stokes
Chief Currency Analyst & Head Trading Coach
www.TradeEmpowered.com -The Premier Online Trading Education Company
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