ForexChicken

ForexChicken Updated 

Following up on the downtrend on this pair. We see a double top pattern with broken support level, turned resistance. Bear flag with rejection on the resistance level. Waiting for break-out confirmation. Target Next level of support.

ForexChicken Updated 

Head & Shoulder Pattern seen with broken neckline and re-test in a bear flag pattern. Flag has now seen a break-out. Target last low/support level. I can foresee that price may just break the support level and fall even more.

ForexChicken Updated 

We can see that a double bottom has been formed. And candles are closing higher each time it gets rejected at the bottom, possibly signaling a strong bullish momentum. Currently being held back at the level of resistance, looking for that break to the upside to enter trade. Best to wait for London open. Target the next level of resistance.

ForexChicken Updated 

Strong bearish momentum yesterday and now we see a possible pullback to an area of resistance. A fresh resistance area should hold up well to send the price back down. Expecting a test in the area and followed by a bear candle to show momentum for entry. Target current low and possibly beyond.

ForexChicken Updated 

We have a potential falling wedge pattern forming. Waiting for entry at the break-out or possibly a re-test. Target next level of resistance.

ForexChicken Updated 

After yesterday's inverted H&S pattern, we can now see that bears has resume control. Now waiting for a break at the previous neckline to confirm entry to the next level of support.

ForexChicken Updated 

Head & Shoulder pattern formed, neckline broken to down side. Formed a bear flag pattern and re-tested the neckline resistance area, rejected and broke bear flag to down side. Target last low/support area.

ForexChicken Updated 

1hr TF shows a Doji pattern and an RSI divergence, signaling a high probability reversal. 30m TF shows a Tweezer top which also signals a reversal. Need the following 1hr candle to close as a bearish candle to confirm trade. Any close above the Doji will cancel the set-up. Here we could target the last low/support level.

ForexChicken Updated 

Inverted Head & Shoulder pattern seen. Now attempting to break the neckline. We could enter on the successful break-out or the re-test. Target the last high/resistance.

ForexChicken Updated 

Pair has re-trace to test the previous level of resistance and down trend line. We should see weakness in USD to continue and pair to continue its bearish trend.

ForexChicken Updated 

Bear run looks to continue as the pull back has now formed a wedge again. We can trade the break-out and target the next level of support.

ForexChicken Updated 

After yesterday's fail to reverse back to the upside, we now have a strong bearish trend. A double top pattern formed before the support area was broken and turned resistance, have been re-tested. Can probably wait for a rejection on the 2nd re-test We can target the next level of support.

ForexChicken Updated 

JPY strengthen. We can see a wedge has been formed and broken through an uptrend line. Now a smaller wedge is forming, indicating a high probability continuation to the down side once broken through. We can target the next level of support.

ForexChicken Updated 

From the previous trade, we can now see that the price have broken-out of the down trend channel. It has also re-test the support level and reversed back to the upside. This has created an high probability bullish channel. We could probably expect a re-test on the the support level again on market open, else we should be rallying back to 11800. Next week forecast:...

ForexChicken Updated 

Yesterday's market has managed to push price lower to test last week's low. This has also formed a falling wedge(Bullish Pattern). A break-out will confirm its bullish momentum.

ForexChicken Updated 

Rising wedge formed, followed by a recent break-out. (Had this trade on the break out and TP on the 1st support level.) CHF is overall bullish and with the USD weaken, we can expect the bearish trend to continue. Looking for a good break on the current support level.

ForexChicken Updated 

The bull run has now formed a wedge pattern where the trend line has been broken to the downside. A re-test back up to the resistance area has been rejected forming a double top pattern. Price has then consolidated in a triangle pattern a broken through to the down side.

ForexChicken Updated 

We have form a highly potential Head & Shoulder pattern. Need the bears to start pushing down and break the neckline. Keep a close watch on this pair.