Norsefx

Norsefx

UsdJpy is closing in on the retest of the breakout fom the bigger triangle pattern that has been forming the last few months. We also got the smaller rising wedge pattern. Support: Upper trendline/55Sma

Norsefx

Update on yesterdays analysis. UsdJpy got a inverse head and shoulder pattern on the 4H timeframe. So this could be an interesting week. 124.10 - 124.60 is now a major battleground, bring the popcorn.

Norsefx

Shanghai is selling off, and now closing in on the 200sma. A break off that will signal a sell opportunity down towards the 3000 level.

Norsefx

After the break of the big bearflag on the daily chart, price has failed to find any support so far. Next support is located at 41.75 level.

Norsefx

EurGbp has 2 bullish patterns forming right now. The bigger pattern is decending wedge, and inside of the wedge, price is now trying to form a inverse head and shoulder. The issue with the smaller pattern is that both shoulders are at the same hight. So my bias is bearish untill price reaches the lower trendline.

Norsefx

UsdCad closes the week at small resistance area. If this area hold i will be looking for a short down to the 1.29 area. If price breaks above, i am looking at 1.3250 for next area of resistance.

Norsefx

EurUsd now got an small decending triangle inside of the bigger consolidation pattern. Now waiting for a buying opportunity down at the lower trendline

Norsefx

UsdJpy is currently consolidation inside of a big triangle on the daily chart. 2 attempts to break the upper trendline. Closed 2 bearish candlesticks in a row. Stops above the spike high.

Norsefx

UsdJpy in currently consolidating inside a big triangle after the big bullish bat pattern. Rejected 2 times at the trendline, that area is also previous sell area. Closed 2 bearish candlesticks in a row. A leg down might be underway. Stops above the spike high.

Norsefx

The UsdJpy is now trying to form a inverse head and shoulder pattern. Price tested the 1.27 fib ext level from yesterdays move. We got news in 50min. A break of the 55MA would signal a move to the upside. Right now i am just watching the pair and adjusting my stoploss levels for my active shortpostions..

Norsefx

This is one of my favorite setups with great RvR. I am long @1.1334 With stops below the double bottom.

Norsefx

Overall bullish on this pair after it had a nice breakout to the upside. On the 15min timeframe however, we have a nice rising wedge, with completion around some Fib.ext areas. I am looking for a new chance to hop on the bullish trend. First Long area to me looks like the .50 zone. But i really want a move lower, to the previous high coming in at 123.30 area.

Norsefx

The pair has a falling wedge pattern nearing completion. Personally, i dont trade falling wedge patterns, so im waiting for the rally back up into previous support.

Norsefx

After putting in an head and shoulder pattern last week, the AUDUSD finaly gives a bullish signal. Got some bullish divergence on the RSI + a nice doji on the left bottom. First target is previous resistance coming in at: 0.7864 Secondary target:0.7884 Stops below 0.7800

Norsefx

The pair is now trying to complete the BC leg at the 1.27fib.ext from XA leg. If you scroll out to the daily you will that this area has been a previous battleground. Stops needs to below C.

Norsefx

As mentioned yesterday, the pair closed above the BC leg, and i am now looking for a harmonic move up into the 1.618 fib.ext. That area is also a previous battleground between the bulls and the bears. Stops on this is above the 1.618 and im looking for a target at previous resistance at the 1.27fib.ext (C)

Norsefx

Since this pair closed above the 1.27ext of the X-A leg, i think there is a good chance that we see a rally up into the 1.618 of the X-A leg. The 1.618 also lines up with previous resistance.

Norsefx

Cypher pattern with B-C leg completion. Now looking for C-D Completion around 1.4700 area