Taking a short based on fundamental bias. Technicals = Divergence + Strong supply zone + Price action
Strong USD currently but I think its running out of steem. We should see a reversal back to the Larger TL
This week I see DXY continuing its bear run. I can see DXY pulling back to the supply area which I highlighted before pushing down. Or we can just continue with the momentium and head down. Next area of interest is 89.279 area.
I expect AUDCHF to push higher after having a nice rejection on our HTF trendline and the confluence of HTF S/R/
I can see EURCAD head higher after having a reaction to the weekly TL. Seems to be alot of manipulation so keep this in mind when getting your positions in
We will most likely see CADJPY continue to head lower after having a strong reaction to the HTF confluence area.
I forcast EJ to push higher now that we have broken the bearish channel. This was also confirmed with divergence. We could still see EJ make a final push lower before heading up so keep this in mind. My idea will be invalidated if price breaks below my trendline and heads lower on HTF
GBPUSD this week I expect price to breakout of this bearish channel and push higher to the weekly key area. My idea is invalidated if we break below the weekly trendline and price heads lower.
This week I see AUDUSD rising at least to the upper side of the daily channel. We had a nice stong bounce and momentium seems to be on our side. We also had divergence on the last leg down to confirm the weakness in the bears. My idea will be invalidated if price breaks below the weekly support and continues lower
I can see GJ heading lower over the longer TF. We see it had a strong rejection over the strong confluence area. What im looking for in the comming week/weeks Breakout of the bearish channel tells me the fractial is complete and we will now start a bearish drop. My idea will be invalidated when price breaks above the weekly TL and stays above
Not to sound like a bear but I do believe that we are expecting a correction soon Reasons are simple - Divergence On Daily Trend changing (Rising wedge) Based on fundamental indicators the correction should be at least a 10% drop maybe more
We are expecting a bounce on AUDCAD. -Divergence on MACD -Close to a stong weekly level -Price is in a demand zone We will be entering on lower timeframes if we get our entry signal
After Eu droped a number of points we have hit a stong key level and are expecting a reversal. Remember when going for reversals it takes time and somtimes can chop around a key reversal area before fully reversing.
Based on wave analysis we should see a push up after this correction. Overall we should also seehigher prices for GOLD
Based on wave analysis. We should see UJ give a push to the upside to end this current corrective state. The next impulse should be strong but we still might make another Jab to the downside which is why I set a limit order on 50% fib and will add another position via a buy stop on the break of the recent high in case we dont get the Jab.
Based on Elliot waves if this second impulse causes a LH there is a good chance that the elliotts wave theory will play out. We see the most recent impulse loosing momentium. This is confirmed with divergence on the MACD indicator.
BTC had a massive push over the last week. As a long term holder its somthing I love to see. I do believe it has alot to do with DXY tanking with the comming election and stimulus talks but in saying that when BTC goes on a run alot of FOMO kicks in and momentium is powerful. Just look at 2017. 13k seems to be holding so if we see a rejection here I can see...
After the V bottom recovery and FEDs printing unlimited amounts of money to keep the market up. Finally seeing the market exhausting. Clues we have for a bearish Bias is - Break of long term up trend line - Following the break we form a LH - Market gives a strong rally up but is met with a strong decline suggesting its a last push. Right now We are at a...