Trendlinebounce
USDCAD - Expecting a Consolidation - Another Trendline BounceHi Traders!
The market is in a Downtrend.
As always, let's begin with the daily Timeframe:
You can see a descending Wedge (with one bearish Fake out).
Consider the distance between the Trendlines: It is getting tighter and tighter.
Because the market has fallen very much and reached now an Area of neutrality, we expect a consilidation now.
Let's move on to the next Timeframe:
The price is now at the lower Trendline.
It is bouncing back from upwards it to reach the other side.
Because the market is in a Downtrend, we don't recommend to trade the Upmovement towards the upper Trendline.
We will trade the bearish Bounce from the Trendline.
Let's move to the Entry Timeframe:
Here we see an orange box.
We call it the "Area of Concentration".
We're here waiting for a Trend Reversal Pattern.
This could be the Engulfing Pattern, a Doji-Pattern, etc.
We recommend to trade the pair patiently, because it is a Longterm-Analysis.
Thanks and successful Trading :)!
AUD/CHF - strong weekly rejection from trend channelAUD/CHF is moving within an extremely consistent descending weekly channel providing a comfortable overall bearish trend to follow for this currency pair. Price is currently at a strong level of resistance at 0.654 which it has failed to break through convincingly for several weeks. If it fails to do so again this week we will be looking to enter short with a target to retest the lower side of the weekly channel - at approx. 0.621.
Extra confluence and comfort is provided from the break to the downside of the daily ascending trend channel, which occurred at the end of July.
Beneath the current price point there is very little in terms of support that may hold back price when it drops.
EUR/USD Monthly Outlook - is the bullish run over?EUR/USD has seen a significant climb over the past few weeks after it broke to the upside from a descending weekly trend channel. Price has now been testing the monthly sloping resistance zone created from the highs back in May 2008, November 2009, June 2011, April 2014 and February 2018. Over the last two weeks, a tweezer top formation has been created on the weekly timeframe which indicates at least some sellers coming into the market. With the precedent set from the previous bounces, we are expecting at least a bearish pullback from this zone down to 1.147. If price continues to respect the monthly channel we could see price return back ultimately to the lows of 1.07. However, if weakness in the USD persists and price on EUR/USD continues to the upside, closing above the monthly channel, this analysis would be invalidated and a new scenario would need to be thought through.
GBPUSD - Trading the Up-Movement - Trendline BounceHi Traders!
The market is in an Uptrend.
As you can see the market is at a Daily Resistance.
That is the barrier it has to BREAK to reach the next Level.
This idea is a combination of a "Bounce and Breakout".
These Structure Levels are supporting the idea:
The (pink) Trendline which is giving Support and giving pressure to the price.
The 50 Exponential Moving Average which is highly respected by Traders and Trading Robots.
The SL is under the Trendline.
The Target is below the next Key Level, where a possible Change could come.
We recommend to close the Trade when the Price don't break out of the Resistance.
Thanks and successful Trading :)!
EURAUD two possible scenarioson H4: EURAUD is overall bearish trading below our green trendline so we will be looking for objective sell setups on lower timeframes as price approaches it.
unless price forms a new swing around our green trendline and breaks it upward, then we will buy this one long-term.
on H1: EURAUD is forming a channel in red so we will be waiting for a new swing to form around our lower red trendline and sell on its break downward.
we also have a regular bearish divergence adding more confluence to our sell setup.
SPX: Alternate Bullish Hypothesis; Cup & Handle in Weekly!Chart shows all. At the indicated futures price, ES mini-Futurz trades exactly at the gap fill price and upper support TL at 3080; Trend has been UP;;
Fighting the Trend has proven Disastrous since 23 March!! FGS be carefull my Dear Bears!!!
I am closing all my shorts at the open; take what the market gives and expect the opening gap to close quickly IMO! Taking a small long in the open!
Jobs report = more good bad news; also:
"Philadelphia Fed said manufacturing activity in the region was much stronger than had been anticipated. Its June reading rose solidly to 27.5 from -43.1 in May."
www.marketwatch.com
Unfilled Gap | Short SetupExpecting to fill in the gap on AUDJPY and continue with the bearish trend. Selling on 0.618 fib retracement and a potential retest of the respectable descending trendline.
Looking to Retest the TrendlineEURJPY seems to be making its way back down in our respectable parallel channel. I will be looking for a retracement to our 0.618 Fib area, retest the trendline, and bounce from the corresponding support level outlined in grey.
Pullback Expected | Long SetupAfter successfully breaking out of our descending trendline, we will now be looking to potentially retest it. Currently, the market is trending within a respectable parallel channel. A zone of confluence is created when the previous broken trendline and the current ascending trendline, meet each other. Furthermore, we have a clear 0.618 Fib retracement - lying right in between the two trendlines creating this "golden pocket", where we could consider opening a long position.
[NZDUSD] Trendline Retest SetupWe managed to see a clean break of the ascending trendline looking back at the 4H time frames. Currently we are in a retracement phase, where there is a potential to retest the trendline, as well as the 0.618 Fib level, and see further downside formed from here. Furthermore, our 0.618 level corresponds perfectly with our previous supports (now acting as resistance), forming up this zone of confluence to potentially look to enter the market!
[GBPJPY] Pullback Setup The price is currently moving towards our respectable trendline, where we would like to see a potential bounce created off the corresponding 0.618 Fib retracement level, and continue to the downside. Furthermore, there is a crucial historical support area, now acting as resistance, which we would like to see retested!
[EURUSD] Pullback ExpectedEURUSD saw a clean rejection from our previous support, and currently is moving upwards to potentially retest our descending trendline. Furthermore, the 0.618 Fib retracement also corresponds well with our preferred entry point, providing us with more technical analysis elements to confidently take our short trade!
Depending on the next few hours of price action, the 0.5 fib level could also be considered a good entry point.
Looking for a pullback on H&SWe are looking to enter shorts on the right shoulder on H&S pattern, which also corresponds well with the 0.618 fib retracement, as well as the 4H descending trendline.
EURCAD (BUY or SELL) trade Setup. Strong Support ahead @ 1.5100 If price closes below it's a sell. Targets and SL given in chart.
If bounces back it's a buy But wait for confirmation, After testing yellow live market should break the purple channel and close above it. Buy trade seems a bit risky.
1.5115 is the strong support line it may set a new short term trend. if you want to trade this idea please wait for market to confirm after hitting 1.5115 zone.
Buy and sell Ideas with Stop-loss and target are mentioned in the chart.
Naked chart without indicators.
Goodluck.
Please note that it's my own analysis. Always do your own research before entering the market.
AUDUSD: Trend channel bounceAfter panic sell-off we are back to previous downtrend channel. Will it hold?
Great opportunity on GBPUSD If USD index continue to fall. GBPUSD will definitely rise again. You can change TP and SL to your analysis. But what s important is the main idea.
Trade Ideas Educator: GBPJPY WedgeA rising wedge has formed with an RSI Divergence got me shorted this pair, on the coming week I'm waiting for the candle to break and close below the lower trendline of the rising wedge, followed by a retracement for me to engage a trade to short it with an added position.
Simple Trendline Bounce.It looks like a simple trendline bounce from here which i will open a buy for long term.
I always trade trendline bounce and have good win and lose ratio from this strategy alone.
At least 60 - 150 pips to be caught with patience.
CHFJPY Long termCHFJPY is going bearish near the 0.618 FIB that is near a Support line with a uptrend line, putting everything together im thinking on a reverse and the market turning bulish this week.
Best Regards
José Pêssego
USDCAD Analysis: Price bounced from a falling trendlineUSDCAD has been following the falling channel since june.
Price bounced off from the trendline and then made a breakout from an ascending channel indicating high chances of heading down.
CADCHF Analysis: Price bounced from trendlineHi traders,
I have spotted two rising trendlines in which this pair has been following and has bounced once again respecting each.
As a result, I see a high likelihood of the price rising further towards the next resistance.
Share your views on this pair in the comment section. If you agree with this analysis kindly hit the like button to show your support.
