PipMorningstar

PipMorningstar

Hi traders, UsdChf presented us with a Head and Shoulder pattern formation. I am trading an extension to 161.8% of the head to entry line. I am placing a stop loss at 38.2% of that same line. Disclaimer: I am not advising you to take any trade, I am only presenting you a completed pattern formation and informing you of my trade. Feel free to ask...

PipMorningstar

UsdCad's weekly chart shows a breakout. The price is currently near a resistance level which can fuel the price to drop on the outer resistance trendline (Refer to AstroFx book). If the price drops below the resistance zone a short trade can be traded. The stop loss would be placed above the resistance zone. UsdCad's 4H chart shows a third touch in the...

PipMorningstar Updated 

EurJpy 1H chart shows a broken resistance trendline. This trendline is broken and now it is being retested. The sell stop has been placed below the previous low. In case the price hits that level till 23:00 (next 3-4 bars) the sell stop will take effect. The MA has crossed which indicates a bearish movement. The EXCELLENT confluence, which is quite surprising is...

PipMorningstar Updated 

EurUsd's 4H chart shows a bearish retracement which does not look like a counter-trend since it has has multiple bullish candles. The resistance trendline has three narrow touches in a short trendline which is quite steep which can indicate a possible strong breakout. Furthermore, the white line represents high to low in the daily timeframe acting as support....

PipMorningstar

GbpUsd is bearish, and it will remain so for this month. I believe lows will be reached in monthly support zones. In any case, this trade is short term aiming the first TP on previous recent structure. Furthermore, the kangaroo tail has printed before the breakout as the doible top formation was formed. Ask questions & Give...

PipMorningstar

The advanced pattern is almost perfect. It depends on the rules someone has on trading these patterns (how tolerant they are on the percentages). In any case, I am aiming for a .38 retracement of the last leg as my first TP. My SL is placed on 1.27 extension of the last leg. Ask questions & Give comments!! Bests

PipMorningstar

NzdUsd is in a monthly resistance of zones and fibonacci levels. Similarly, on the daily timeframe NzdUsd has printed a Kangaroo Tail, indicating a strong resistance in the zone sutuated. Personally, I have entered a short trade, however, a Crossover of the Moving Averages would provide a good indication of further bearish movements. Ask Questions, and give...