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Trendcontinuation

ON THE LOOKOUT FOR A BREAKOUT - INVERSE H&SI've had my eye on EURNZD for a while now, but more recently in the last week or two. The Euro has over the last week (actually since April 2017, but what's 12 months between ticks) staged quite the bullish run and the charge seems to be in full momentum (I should know on account of being on the wrong side of it recently and donating some to the market). Most noticeably is the formation of an Inverse (or Inverted... take your pick) Head and Shoulders setup on the Dailies (1D, Daily Chart) which is beginning to look quite ripe for the picking and providing a nice trend following, swing trade long opportunity for those who like that kind of stuff (and by that I mean anybody interested in making some profit from the markets :D) Price action is currently testing a pretty significant level of resistance at previous structure highs, which pretty much lines up with the neckline of the aforementioned Inverse H&S. Having done our I (Identification) and P (Prediction), the only other question now is how do we get involved i.e. what is our D (Decision)? Dropping down to the lower time frames (1H to be precise-see chart below), this pair has setup a very nice Double bottom preparing us for a potential 2618 Entry opportunity to get involved. IF price can retrace to the 61.8% or deeper of the confirmation leg (right leg of the Double Bottom) to the most recent highs, THEN this could provide a very decent entry opportunity with a pretty nice Reward to Risk ratio. Alternatively, IF price breaks and closes above the resistance level (which we just got on the 1H as I type this) and stages a further advance, THEN I'd be waiting for a retracement into resistance now turned support or possibly (ideally) lower into about the 1.7100 even handle for an opportunity to get involved. It is worth noting that both the U.S (of A) and New Zealand will be releasing interest rate decisions later on today (18:00 GMT for the U.S and 20:00 GMT for New Zealand), both of which could significantly affect the outcome of this analysis. So I would be treading carefully or stay out until after the data releases. As always, glad to share my observations of the market but the real work is yours to do. These are just my opinions and do not constitute any advice or recommendation to trade. If you do take a trade based on this analysis, please note you do so at your own risk so be sure to do your own analysis and confirm to yourself the trade meets YOUR rules and trading plan, that the risk is worth it to you and you have fully acknowledged and accepted the risk involved. Good luck in your trades community. Wishing you all lots of success, consistency and bank :)
Long
by scorpiousg
S&P 500 (SPXUSD) - Bearish wedgeGood morning, Chart allowed us to mark a Bearish wedge as trend continuation pattern. Although even if price will brake the pattern we should look very closely on the price move around MA100 and local support zone. For safety reason I would recommend opening positions in the correctional movement after firm break-out. MACD indicatior is not giving us a 100% sure reversal signal but histogram is significantly falling. The First target should be on the previous lows from 2018-02-09 and second target should be around second zone and main trend line which can be a significant point for the S&P 500 index. -- Remember that's only my point of view and every investment you do is fully on your risk!
FOREXCOM:SPX500Short
by Shadower1005