ImreSG

ImreSG Updated 

This idea is related to previous analysis regarding how to trade the Head and Shoulders pattern that has formed on the D1 chart. As expected, price has started to retrace towards the neckline of the Head and Shoulders in the process forming a rising wedge on the H4 timeframe. I am looking to sell upon the successful close of a Bearish candle beyond the support...

ImreSG Updated 

I see a potential opportunity for a long position on CADJPY. On the D1 timeframe, the November 1st candle has closed as a bullish engulfing candle demonstrating a clear rejection of the 0 Fibonacci level. On the H4 timeframe the origins of this bullish wave can be traced to the railroad tracks indicated by the blue arrow. My entry is a limit order placed just a...

ImreSG Updated 

I see an opportunity to buy this pair based on a confluence of bullish rejection of the 1.0 Fibonacci level as well as a trendline break of the resistance line of the current bearish movement. The first target is the 61.8 Fibonacci level. The extended target is slightly below the D1 trendline and creeping into the 50 fibonacci level. The stop loss is a few pips...

ImreSG Updated 

This trade is looking like it might form over the next several hours. Currently there is a symmetrical triangle that has formed on the H1 chart. Look to sell a breakdown of the supporting trendline of this triangle. This is in line with the related USDCHF Playbook idea I have uploaded from Sunday

ImreSG

We have a Head and Shoulders pattern that has formed on EURUSD with a clear neckline. The October 27th candle has closed past the neckline, and I am now expecting a test of the neckline to confirm it as valid resistance. If this event occurs, then I am targeting the 1.618 fibo level as my profit target and the 2.618 level as the extended target, with the stop loss...

ImreSG

The October 27th candle closed as a textbook Shooting Star showing a clear rejection of the 1.618 fibo level. I am expecting a short-term pullback to the trendline, after which I will be looking for a long position targeting a few pips below the very key technical and psychological resistance level of 1.0000. Once price reaches this level it will be a very...

ImreSG

As GBPJPY approaches the 139.000 key level, I am looking for a bounce or a break. If price bounces then we will be looking to go long with an initial target of 141.000 and an extended target of 142.000. If we see a break of the key level, I will be waiting for a re-test of the 130.000 level to confirm its validity as resistance and set a short targets for...

ImreSG Updated 

In the below chart, the three red arrows represent when buyers pushed price up to a critical zone around the 1.30415 level. Each time buyers pressed the attack and brought price to or near to this level, sellers fought back and pushed the price back down. The last time sellers fought back, they didn't push the price down nearly as low as they did on their...

ImreSG Updated 

AUDUSD has seen very strong one-sided buying since July 10. This drive in price action has seen it smash through previously minor support & resistance areas until Friday, when it ran into a very strong key resistance level at 0.78285. The recent price action context indicates that there is still more room to the upside for this currency pair. Looking at the chart,...

ImreSG Updated 

Right now this is NOT a setup, just analysis that I see a setup forming sometime this week that will signal EURUAD is ready to continue its bullish trend that began on April 17. Looking at the chart, we can see from April 17 a beautiful bullish trend offering several pullback opportunities for retail traders to piggy back on the move. And then on May 17 to May...

ImreSG Updated 

After a weak NFP report last week, USDJPY has formed this consolidation pattern on the 1H timeframe and is looking like it might finally fill the gap up that was created back on 04/25 when Macron took a lead in French election polling. I believe price will continue to break below the gap, but it might certainly stall for a bit around the 109.700 level, which...

ImreSG Updated 

Pretty straightforward analysis here. Expecting continued upward movement to test the critical zone. As we hit 0.74600, I expect a 50% fib retracement, and another march back to the critical zone. If a trade develops, I will update this idea with exact targets and stop loss. Whether or not AUDUSD breaks past this key level will depend on fundamental data...

ImreSG Updated 

AUDNZD has been in a downtrend over the past several days. The initial short trade was triggered by the bearish pin-bar that was unable to close past the highlighted area of support and resistance. Since then, price has gone forcefully down until yesterday where it formed a Bullish candle with long wicks in both directions. This candle formed in a previous area...

ImreSG Updated 

I have taken a 'blind' short entry here. I say blind, because I did not wait for confirmation of a fully formed candlestick to enter short. The reasoning for this trade is that the drawn horizontal level has behaved as a very strong area of resistance in the recent past. As of May 19th there have been 7 unsuccessful attempts at driving price significantly...