TheCaffeinatedTrader

TheCaffeinatedTrader

We see a clear rejection off the 127.2 extension on UCAD, looking for short back down to the 61.8 level to meet back with trend line. From there we will see. DXY is ranging just above the 38.2 with a lot of upper wicks. It has formed a left shoulder and head so far, so it looks on track to complete a right should for the remainder of the summer and then a move...

TheCaffeinatedTrader

Price already broke below the trend line and currently is being rejected on the retest. We have a strong resistance at the top at the 95.50 level and another resistance at the 94.70 price level. We have completed a left shoulder and the head already, and based on what I mentioned above, it looks as though we will be forming the right shoulder soon. more...

TheCaffeinatedTrader

One of the most overlooked tools a trader can use is multi-time frames. 1 chart might be saying sell while the other is saying buy. It's your job as a trader to figure out what timeframe is displaying the most reliable forms of confirmation. From that point you can truly make an informed decision and stack the odds in your favour for profitable trading. Here we...

TheCaffeinatedTrader

Strong USD move up is halted by strong resistance level forming a double top. Looking for a further move down than previous low.

TheCaffeinatedTrader

USD rallied really good yesterday against all pairs, however gave most of those gains back today. Fed outlook is concerning and price chart not looking too good either.

TheCaffeinatedTrader

long-term traders should look to TP around 1.29 level.

TheCaffeinatedTrader

Getting very tight on the daily chart. When we break we should see a strong move. I have a bearish bias at the moment, but we will see what happens when it breaks.

TheCaffeinatedTrader Updated 

USDCAD is still struggling to break the support zone at 1.315 - 1.316. However, looking at the 1H chart we see multiple indications of a downtrend. 1. Price got rejected of Fibonacci R2 level and have seen a downward move since 2. After rejection, price came back below R1 and then crossed back to the upside but failed to stay above forming a Lower High 2. Price...

TheCaffeinatedTrader

UC is forming a head and shoulders pattern on the 1H chart, the same exact formation as Monday and Tuesday last week. We have already been in a downtrend for about 2 weeks now so I believe we still have a ways to go.

TheCaffeinatedTrader

We saw strong bullish momentum after breaking the neckline of the Inverse head and shoulders pattern. We recently just broke an earlier swing low point at 0.683 - 0.6835 but price has slowed down at this point to test this level. We will see if we get confirmation on continuation for a bullish more. Also we still have clear confirmation on the EMA crossover...

TheCaffeinatedTrader Updated 

Recently just completed a textbook Inverse Head and Shoulders pattern on the 4 hour chart. Price is currently struggling at a Fibonacci pivot point so I see price retracing back a bit to retest the support on the neck line then continuing its move up. Love to get your feedback on this, what do you think?

TheCaffeinatedTrader

We already tested this point 2 times already and coming back now for the 3 attempt. Will this be the time that breaks it? If we do, I see price making its way down to 1.308 daily support level, coming back to retest that monthly level to confirm a new resistance and then retracing back down a strong weekly support at the 1.034 - 1.035 price level. Good luck and...

TheCaffeinatedTrader

we broke past the 0.75 support earlier on pitchfork and touched weekly support. Some bullish power holding up around that support, so we are testing that at the moment. However, still multiple signs of bearish power to continue. Next up is the 0.618 level.

TheCaffeinatedTrader

Bullish power since Aussie open. Looking for a failed retest of the broken support to confirm trend reversal.

TheCaffeinatedTrader

Price got rejected hard off previous support and resistance area with a long bearish candle. Moving averages are looking like they are about to cross over as well with proper angles indicating long-term bearish reversal.

TheCaffeinatedTrader

We broke through the trendline a little while ago and recently came back to retest with a beautiful rejection on that retest confirming a further move down.

TheCaffeinatedTrader

about another 150 - 200 pips long still, but once we hit the 1.35 price range UC will have a long ride back down to 1.28 before we see any true support. Trade at your own risk.

TheCaffeinatedTrader

Weekly trend lines, Daily S & R. … Trade at your own risk.