csohrab

csohrab

GBPJPY has broken to the downside with a strong bearish engulfing candle. The reason I like this set up is because most times when price is going to change directions it will make one last high before it starts dropping and that's exact what this candle stick did. (Also note on the far left how price made the last low before turning bullish). These are signs of a...

csohrab

Last time we analyzed EURAUD we identified the reversal pattern and successfully captured 250 pips. This time EA is forming a bullish flag pattern for the next leg up. This is a great trade going into next week. Price is currently at the 61.8% of the initial move and is confluent with psychological support 1.61. As long as support holds look for price to make an...

csohrab

EURAUD Looks like a really good set up heading into next week. Price has been forming a reversal pattern and has successfully created an impulsive move to the upside. Before we enter we need price to pull back aka bull flag before we go long. Definitely keeping a close eye on this pair. This is not financial advice. I am not a financial advisor. This is for...

csohrab

USDJPY has found temporary support. Based on market structure it appears UJ will make a small pullback aka bear flag. Look to go long at 108.000 and TP 108.500.This is not financial advice. I am not a financial advisor. This is for educational purposes only.

csohrab

EURNZD Breakout to the upside, currently retesting what was previous resistance now turn support. If support holds look for long up to around psychological number 1.68000. This is not financial advice. I am not a financial advisor. This is for educational purposes only.

csohrab

NZDUSD has been in a widening wedge pattern and has formed a shooting star candle on the daily timeframe. These are both signs of a reversal. Multiple confluence list: 1. Daily shooting star with 3rd test of trendline 2. Daily RSI overbought with 4 Hr RSI bearish divergence Entry around 0.66150 with stop above high at 0.66450. TP1 0.65550 TP2 0.64550 This is for...

csohrab

NZDUSD is currently testing the 61.8% retracement zone of the daily swing high to swing low. It is also forming an ascending channel pattern which is typically a reversal pattern. We also have divergence on the 4 hr. Best thing to do is wait for a convincing break down out of the channel with strong bearish candle sticks, then look for a small retracement and...

csohrab

USDJPY has broken out of a rising channel pattern and is currently testing the lower edge of the channel. Look for short entry at 109.550 confluent with the 61.8%. TP just above round psychological number @ 109.050. Stop above 109.750.This is for educational purposes only. This is in no way intended to be financial advice. I am not a financial advisor.

csohrab

The Euro has broken out of a descending channel and is about to retest the break of the channel for a long entry at 1.10100 confluent at the 38% fib. TP1 @ 1.10500 & TP 2 @ 1.10700 Stop below 1.09900. This is for educational purposes only. This is in no way intended to be financial advice. I am not a financial advisor.

csohrab

AUDUSD is currently in a downtrend with the RBA rate statement and cash rate at the beginning of the week. This may well be the deciding factor that helps confirm the direction of AUD for the remainder of 2019. Two scenarios; a short from 0.67800 to 0.67300 for 50 pips then a potential bounce, or possible drop all the way back toward year lows @ 0.67000-0.66800....

csohrab

Gold has broken above previous resistance. Look for retest and long entry at $1458 confluent with 61.8%. TP @ $1472. Stop below previous low $1452. This is for educational purposes only. This is in no way intended to be financial advice. I am not a financial advisor.

csohrab

NZD is creating a flat top ascending triangle which is a bullish chart pattern. Look to get long around 0.64050-0.64150. TP @ 0.65000 round psychological number confluent with the 50% fib. Stop 0.63800. Great risk to reward 1:3. This is for educational purposes only. This is in no way intended to be financial advice. I am not a financial advisor.

csohrab

AUDUSD has been creating a bull flag for the past several days. Price has been supported by the 23.6% of the entire move which is also confluent with 50%. Price bounced from this strong support level and now we expect continuation to the upside possibly as high as round psychological number 0.70 which is confluent with the 61.8% and the -27% extension of the...

csohrab

AUDUSD is starting to show signs of a harmonic crab pattern. Currently rejecting the 61.8% of the most recent swing high to swing low will lead us to the -27% extension which is confluent with the 61.8%. This is take profit 1 (TP1). Expect a slight retrace (bear flag) in this zone up to about 0.68100 then a continuation of drop back down to yearly lows at 0.66800...

csohrab

AUDUSD is currently finishing a corrective wave and getting ready for the next wave up. The sell zone on the chart would be a good place for a short term sell for 30-50 pips. Take profit (TP) 1 is also our buy minimum which is confluent with the fib cluster of 38.2% & -27%. TP 2 is our buy maximum which is confluent with the -61.8% & 50%. TP for the long is the...

csohrab

EURUSD is currently finishing a wave 4 and getting ready for a wave 5. There are two entries; a buy miniumum at the -27% of the ABC of wave 4 and a buy maximum at the -61.8% if wave 4 corrects lower. Keep in mind that the ECB has their interest rate decision and press conference on Thursday Oct 24th at 7:45-8:30am EST. This will cause a lot of volatility in the...

csohrab

XAUUSD has been consolidating and bouncing around in a falling wedge pattern aka bull flag since it made a 2019 high in the beginning of September. In this analysis we have 2 scenarios which could play out. First one, from a purely technical perspective, we have a cluster of Fibonacci levels right at the psychological $1450 level. Price could potential come down...

csohrab

GBPUSD looks to have finished wave 3 of a larger Elliot wave cycle on the daily timeframe. After a wave 3 is a corrective pullback (wave 4) before a final wave 5. In this analysis we can see price made an impulse wave 1 then made a corrective pullback to the 61.8% to complete wave 2. Then another impulse wave up for wave 3 which has reached a critical resistance...