JuanAlexander95

JuanAlexander95

Looking at the Weekly chart, we can see the formation of a descending wedge Looking into the Daily chart, we see yet again another descending wedge. Its a more defined wedge on the 4HR chart. As we can see from the 4HR chart, not only is there a descending wedge, but we actually see that price has just broken past the resistance line of the pattern. It is...

JuanAlexander95

AUDJPY Daily chart shows a slightly ascending channel following by a drop to the 75.227 support line and breaking it. We could see a potential reversal at this point or it can reach 71.018 before reversing. Looking in at the 4HR chart, we see an evening star formation with an impulse to the upside before entering what now looks like a consolidation period....

JuanAlexander95

Initially, when I saw this trade opportunity, my trend line position had made it look like price had just broken through and was on its way up. However, after adjusting my trend line, I saw that price just bounced off the resistance and was trickling its way back down the channel. Unfortunately, I entered the trade when price "broke" through the trend line and am...

JuanAlexander95 Updated 

We currently see a descending channel on the Daily chart with a breakout to the upside. Price is currently pulling back which will allow an opportunity for traders to hop in on the trade. My TP is 300 Pips from current price with a tight SL of 25 Pips. Looking at the 1HR chart, we see the same descending channel pattern we see in the higher time frame. This...

JuanAlexander95

This market analysis of EUR/NZD is for those who were able to enter in on the original impulse of the move. We have a pullback to the 50% Fib retracement and placed another sell order at the 38% Fib Line with a 80 Pip Target and 28Pip Stop Loss. Hope some of you can capitalize here! Great scale in opportunity for those of you who caught the first impulse!