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GBPCAD - SHORT - BAT PATTERN + RSI DIVERGENCE1, BAT PATTERN
2, RSI BEARISH DIVERGENCE
TARGET BASED ON 382 AND 618 ON FIBONACCI RETRACEMENT
TRADE NOT ACTIVE
EUR/AUD Bearish bias. Following on from by Forex Market Breakdown Volume 4 youtube video, I mentioned how EUR/AUD was in need of a pullback and formation of a new lower high to give-way for further downside momentum.
Looking across the higher time frames, price has been very clear of its rejection of the strong historical levels between 1.6000 & 1.6200. Look back to the start of time on this pair, these levels have held strong every since...
Since its decline from 1.62000, we can see very clearly on the weekly time frame price consolidating within a daily/weekly range. This stretches between 1.57500 and 1.6000. Multiple wick rejections of either side which confirm to me that price is very indecisive and although my long term bias is bearish, bullish momentum could still win the battle and price could very much still rally to the skies.
However, a long entry is not something I will act upon.
On the daily time frame, since price has been trading below 1.6000, this level has acted as significant support with triple wick rejections of this zone. Furthermore I have highlighted a short term range bound zone marked by the yellow support and resistance zones. I will not mention these in detail, they are pretty self explanatory.
On the lower time frames, specifically the 4hr chart we can clearly see price forming its new lower high after rejecting the short term support highlighted by the yellow zone. On the hourly time frame price has also broken short term bullish trend structure and perfectly retested a key entry zone also highlighted in yellow. I will not mention why this zone is so significant because some secrets are best kept that!
Anyway, 1.58200 is the next downside target and once broken below its all eyes on 1.57500. Lets get it!
USDCHF - Head & Shoulder!Hey!
We have a breakout confirmation on the 1H timeframe from bearish chart pattern called Head and Shoulders.
To get a better entry point then you should wait for neckline retest.
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*This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
EURJPY [Intraday] Shorts in play 125,80/90 ...Broek intraday demand, now rally back into that zone so supply should be active around 125,85/00, stops above the figure
GBPCHF scenarioOrganization and planning are important strategy in everyday life. If you want to compete and be a good competitor, there is necessary to have plan A, B and C. You have to think outside of the box and 2 steps forward.
Here we can see GBPCHF price playing around major psychological levels; 1.31000 and 1.33000. I shared 3 scenarios what might happen. Either the trend is not exhausted, either price will fall or either we will have to wait for decision while price is playing between these levels. Remember this is day chart and you might see some significant move yet next month. BUT when it happen next month or tomorrow or even today you will be prepared for the game named FOREX.
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EURNZD Harmonic Butterfly Analysis and StrategyWe are trading 4th leg of the predicted butterfly pattern. We are looking for a break of the yellow trend line to give our position validation. FX:EURNZD
EURCAD Harmonic Cypher Pattern Analysis and StrategyWe are predicting the formation and completion of the Cypher pattern as seen on the 4 hr chart . Our strategy is to trade the 4th leg of the formation which has received further confirmation by breaking the yellow trend line. FX:EURCAD
EURUSD wave count and flag point toward higher pricesvery interesting setup on EU just like EJ i expect higher prices coming soon.
Waiting for a breakout to consider buying with a tight stop.
Gonna keep this post updated.
AUDCAD Harmonic Gartely Pattern Analysis and Strategy A Gartley pattern has formed on the 4 hr chart which is a bearish indicator and signaled us to sell. We are currently shorting the pair with our take profit set on the green zones. FX:AUDCAD
GBP INDEX Shark Pattern Analysis and StrategyWe are trading 4th leg of the predicted shark pattern. We are looking for price action to break the yellow trend line which will take us to out targets on the 1st and 2nd green zones, which will complete the pattern as well. NASDAQ:GBP
EURGBP Harmonic Shark Pattern Analysis ans Strategy We see the completion of the shark pattern on the 4 hr chart which signaled us to buy the pair. The position is further validated but bouncing off a major support zone. Our take profits are set at the green major and minor resistance zones. OANDA:EURGBP
EURGBP: Are we seeing a top in EUR/GBPA break of this 0.8620 is calling for the completion of a top. GBPUSD is on the move with the help of political
comments pushing the EURGBP to lower level. Reaction High at 0.8620/30. Sell rally.
Litecoin at crossroads: 3 Key info. to Keep in MindConclusion for today’s Litecoin analysis: A break above Litecoin’s long term bearish trendline provides further evidence of a trend change and bullish bias.
A logarithmic scale is used on the 6 hour timeframe chart for today’s Litecoin analysis with coverage of over 8 months of market action. Of great importance is the major bearish trendline in Litecoin that is currently active and has lasted over 14 months as highlighted on the chart.
This is due to the termination of bullish momentum at the trendline on February 24, 2019 when a price high of ~$54.80 was achieved in Litecoin. Lack of a close above the trend line implies potential entry point for bearish trades or positions.
Conversely, a bullish price channel is used to put price action into perspective following the termination of bearish momentum on December 14, 2018 at a price low of ~$23.05, which resulted in Litecoin reaching $54.80.
The lower boundary of the bullish price channel between $38 and $40 provides opportunity for entry into a long (buy) position(s), with the expectation for Litecoin to break above upper boundary of the bullish channel and longer bearish trendline.
Support for Litecoin below the bullish channel is present between $30.32 and $28.48, with Litecoin expected to target this support region on a breach below the lower boundary of the bullish channel. This would imply trouble, and even worse is price closing below $28.48.
Euro strengthenedWe observe that the MA (36) continues to remain the current level of support and indicates an upward movement. Despite the fact that the pair has stalled in a small range, it managed to consolidate above the level of 1.1345.
Therefore, we advise you to take long positions in the pair. Consider your goals at the marks near the levels of 1.14 and 1.1440
EurUsd - Weekly Volatility ContractionIntraday FX trading has been choppy since 2019 started. We are paying attention to the volatility contraction on EurUsd (which accounts for 60% of the DIXY) which is a weekly contraction and quite influential. The breakout will be quite important.
EURCAD Daily Harmonic Gartley Pattern Analysis and StrategyWe are predicting the formation and completion of the Gartely pattern as seen on the daily chart. We are long here at the start of the 4th leg of the formation which is also as major support zone. FX:EURCAD
USDCAD Harmonic pattern Analysis and StrategyThe formation of this harmonic pattern signaled us to buy the pair with our take profits on the green zones. Three of our take profits have been hit as result of our strategy. FX:USDCAD
USDYEN 111.20.. What s behind that level. USDYEN: On the left daily time frame. 111.35 the 200 SDMA
On the right short term 111.40 (rejection high). 111.37 (low 26 OCT18)
Thats the frist serious resistance followed by 111.55 then 111.77/80.
I am flat looking to sell.
USDCADUSDCAD - I was anticipating this retracment I am expecting continued Canadian dollar strength I am targeting price level of 1.2975
AUDUSD Mildly Bullish... AUD: Clients were buying AUD last week and overnight on the positive trade news. The positioning is fairly clean in AUDUSD.
The key level to watch is 0.7230/40, the level before the dovish RBA earlier this month. I’d be a seller up there if nothing changes in the domestic story
in Australia. Support comes in at 0.7100, 0.7060, 0.7020.
