The GBPNZD 50% retracement from the last major move appears to be holding. Indicators are suggesting oversold values and weakening bullish pressure. The red rectangle is the projection based on the 50% retracement. A pending sell order has been place a few pips below today's low at 1.748. SL is safely above the highs of this retracement. GBPNZD likes to make...
Small inside/doji bar on resistance and trendline. Also trading with the trend
the market has shown a very aggresive breakout from the linear consolidation channel shown above. these are strong signs of a retest to the previous structure low (blue trend line) great short oppurtunity
The EURNOK is approaching a huge resistance area. Price hasn't broken this area since this time last year. I will definitely be watching this for either a long or short. Waiting for price action to confirm!
Hello traders, Both patterns cannot be taken simultaneously. It is one invalidates the other. Potential long opportunity 1245.13 with 3 drives pattern confluence, trend-line support and follows bullish move up. or potential short opportunity 1298.25 minor resistance confluence. Typically I look at RSI conditions (overbought, oversold or divergence). Feel free...
Key support at eurusd is 1.08. So I try to short it to the key level while it not hit and later will see what happens.
this was a potential opportunity that I had on my radar yesterday, unfortunately the markets decided to do absolutely nothing but go sideways creating a channel. If we breakout of this channel to the upside I'll be looking at a third harmonic move setting up a potential selling opportunity as we come into previous structure resistance starting at the 187.40's...
As many of you know today is FED day as the FOMC has its Interest rate Decision & Statement coming out today at 2pm (New York). The expectation is that there will be no changes made at this particular time so most of the “volatility” and “reaction” will be based off of the tone of the statement as trader hunt for any clues of when the rate hike may occur. This is...
POTENTIAL COMPLETION OF XABCD PATTERN ON AUD/JPY, WITH THE COMPLETION LEG FINISHING ON THE 0.382 RETRACE OF LONG TERM SWING HIGH/SWING LOW. A BEARISH REVERSAL CANDLE ON 30M TIME FRAME MAY ADD TO FURTHER CONFIRMATION OF SHORT TERM SELLING, WITH THE 91.30 HANDLE ACTING AS STRONG STRUCTURE RESISTANCE. DAILY SUPPORT ACTS AS A NICE POTENTIAL PROFIT TAKING AREA, SHORT...
(VIDEO LINK: www.youtube.com )GBPAUD has been a pair that I’ve swung and missed at all week with 2 losing trades & a trade that came half way to targets before getting stopped out for breakeven. The majority of the week has been focused around this same structure level & now that price action is trading below it, I may have my chance at a short opportunity. As...
Price is inside the decision zone , i think may be it will reverse due to the following reasons:- 1- Double bottom in lower time frame. 2- Valid structure level. 3- RSI oversold. 4- 1.618 Fib extension for AD Leg. 5- 0.764 Fib level for BA Leg. 6- 0.618 Fib level for CA Leg. 7- 0.500 Fib level for EA Leg.