LizzyD

LizzyD

Price action has shown evidence of rejection at the price zone set as a high in Dec 2019. On the 1-hour chart, a Head-and-Shoulders pattern is developing with a bearish pinbar set to close at the right shoulder. Further movement past the neckline may result in further downside toward the support zone indicated in green. Be aware of event risk playing out over...

LizzyD

Daily Chart - Price had just broke through the neckline of a Head and Shoulders pattern, but turned abruptly with the release of AUD employment numbers. 1-hour Chart - If price action extends to approximately 0.6885 to touch resistance (upper blue dashed line) and the 200-period moving average (red solid line), it might retrace to the 0.618 fib level at 0.6850,...

LizzyD Updated 

Price action is up-trending on higher time frames (weekly and monthly). The pennant formation shown is consistent with price consolidation within an uptrend. Pennant upper boundary has been touched twice (and almost a third time at the tip of the flagpole) and the lower boundary has been touched three times. The MACD is showing consolidation and is waiting for the...

LizzyD

Short-term Bearish Flag inside a longer-term Bearish Flag. Break to the downside of the short-term Bearish Flag could result in price action testing the lower boundary of the longer-term Bearish Flag around 1.2740 - 1.2750. Break to the downside of this longer-term Bearish Flag could then result in price action moving toward 1.2695 - 1.2726 in an AB=CD pattern,...

LizzyD Updated 

Last hour's candle touched the lower boundary of a bullish flag, which is also the 0.382 fib retrace of the 'flag pole' and the 0.618 fib retrace of the most recent major up move (Nov 10th to 15th). I'm looking to go long here to 1.2800 and will reassess my position at that point where price action may either continue or reverse. The trading idea is invalid if...

LizzyD

See Chart. Double top at 0.5 retrace of most recent down move. Break of support that was tested four times. This is not trading advice.

LizzyD Updated 

Gartley completion at structure. Looking to go long in the green box right around 'D'. Hoping for about 40 pips. Trade idea is invalid if price action moves out of the green box to the downside. This is not trading advice. Trade with caution.

LizzyD Updated 

I'm looking to go short near the upper boundary of this bear flag. Will ride price action down to the lower boundary and either exit if price action turns around, or continue riding lower. Stop loss just above the flag's upper boundary. Cautionary notes: CAD housing data due in 13 hours (medium importance).

LizzyD Updated 

After an early morning rally during the North American session we have seen some consolidation in the 0.8957 - 0.8967 range, setting up what looks to be a bull flag. From here I see three near-term possibilities: 1. Bull Flag. If price action breaks to the upside of the flag, I expect it to continue toward the 1.272 (0.9020) Fib extension of the latest leg up...

LizzyD

Price action did not retest the broken support around 1.2780 as I had predicted it might late last week (see 'retest' on chart), with US news early Friday morning (EST) driving the pair to a lower close at 1.26489. I had hoped to see a retrace of the BoC rate increase price movement to between the 0.382 and 0.618 Fib levels, and without this, there will be no...

LizzyD Updated 

An opportunity to re-enter USDCAD short may present itself seven to twelve hours from now. I will be watching how price action develops over the coming hours with an expectation that price will touch the point labeled on the chart as 'retest'. This is a major area of confluence. It represents a retest of both the upper trend line of the ascending broadening wedge...

LizzyD

Butterfly pattern completed and price turning downward. 0.5 retrace coincides with previous structure (resistance becoming support).

LizzyD

Watching for a break to the downside of this potential bear flag forming on the 1 hr AUDUSD chart. This tight channel might provide some short-term trading opportunities in the meantime for those who like to take small profits more frequently. This is just an idea. It is not trading advice.

LizzyD Updated 

Could be a nice short here. Price action broke a previous structure level (upper dashed line) last hour and has retested that level several times so far this hour (see shorter time frames) without breaking through (yet). Price action could continue to the next level of previous structure (second dashed line), or to complete the cypher pattern shown, or may even...

LizzyD

If price action on the Daily Chart can push through 1.30 and 1.28, is it possible that we might see 1.16 by the end of August? Legs AB and BC have completed within a butterfly reversal pattern in an almost ideal fashion (see chart) with only leg CD remaining to complete. The bear flag retrace has been broken and price action over the last two days has been strong...

LizzyD Updated 

Price action can turn around at any price point between now and the blue point 'C' and then move up toward the blue 'D' to complete a bearish Gartley. If price action continues to fall beyond the blue 'C' to the pink 'C', it might turn around and move toward the pink 'D' to complete a bearish Cypher. Both patterns would complete around 1.11900, at which point I...

LizzyD Updated 

If price can break and hold below the purple dashed line, possible short to point 'D' to complete a Bullish Crab Reversal Pattern. See chart for further details. Point 'D' falls on the established, short-term downward trend line (solid purple), 0.382 retracement of the 2017-06-14 to 2017-06-20 upward price movement, and the price level has also served as support...

LizzyD Updated 

EURGBP has been up trending for some time now. Point 'C' of a Bat Continuation Pattern has taken shape and price is now headed toward 'D'. The last 1hr candle was red, posting a lower low and lower high than the previous candle, which was a nice pinbar at the top of recent price action. This is a nice bearish signal. I expect price action to continue to fall...