lefergs

lefergs Jun 10, 2020

Cadchf is still in an uptrend creating higher highs and higher lows. Price is currently testing support @ 0.7070. if price can manage to create a double bottom or provide another form of confirmation on a lower time frame i will be looking for opportunities closer to the support to reduce risk. it is also important to note that there is a strong level of...

lefergs Jun 10, 2020

Based on the weekly chart's price action we can see a possible inverse head and shoulders forming. Price made a push down to 1.69500 and rejected reaching the last high, forming the left shoulder. From the last high price then broke below the support level 1.69500 and broke back above retesting 1.7600 area to create the head. Currently price is rejecting the...

lefergs Updated  Jun 8, 2020

Pretty Simple idea here. Just a break and retest of previous Structure. i will be looking for selling opportunities @ 1695 area on a smaller time frame. Should a valid entry present itself i will take the trade targeting the previous low and stops a reasonable distance from entry.

lefergs May 31, 2020

This week im expecting some retracement on uschf before we see continued selling pressure. price seems to be over extended and is heading in an area of support. if on a lower timeframe we see a shift in structure from bearish to bullish and a break and retest of structure we can look for buying opportunities targeting 0.9650 area or even 0.9675. at those...

lefergs May 31, 2020

GbpAud has rallied to the downside for weeks now without any major moves to the upside. it is now entering an accumulation phase as price is ranging in between 1.8586 and 1.84924. for this reason i am not interested in this pair until i see a break and of this range, i will say that i would prefer to see a break to the upside as it would provide a better risk to...

lefergs May 31, 2020

Cadjpy from a d1 perspective is in an uptrend but has also broken above 77.500 a level which has not been retested since. i missed a buying opportunity at 77.769 on the h4 but usually price tends to retrace and close inside of the area of support on the d1 chart. therefor i will be waiting for price to come within 77.500 area and to provide a valid entry and...

lefergs May 31, 2020

Usdjpy has basically been Ranging at the top of an uptrend in between 107.890 and 107.400 indicating that price is in a Distribution phase and we can probably expect some Usd weakness or even a complete reversal. As of last week, we saw a break of this range and an immediate break back in retesting the top of the range acting as resistance. I am personally looking...

lefergs May 31, 2020

Gold has broken out of its downtrend and broken above structure @ 1725 and created a higher high. it is quite plausible that price will go to retest 1725 and continue up. the reason for this is because previous resistance should become support. When this is combined with the Fibonacci retracement tool we can see the .618 level lines up with said structure giving a...

lefergs May 31, 2020

Eurusd is has finally broken out of its long time range and is currently at a strong level of resistance @ 1.1142. Therefore, It can be expected that price will retest the top of the recently broken range, however it would be unwise to start selling now as price is still very bullish. So what i will be looking for is a shift of momentum from a bullish one to that...

lefergs May 28, 2020

Gold is currently in a downtrend on the h4 chart. This is evident by the series of lower lows and lower highs being created. recently price has returned to the 1724 level which is a very good level to look for shorting opportunities. We have the confirmation of price touching the trend line in confluence with structure. Also note that price has respected the 786...

lefergs Updated  May 26, 2020

Price has broken out of its long consolidating wedge. the break was confirmed by a strong movement to the downside and has now retraced almost 100% to retest the broken trend line also giving us the best possible risk to reward situation. there is now the confluence of the trend line, previous area of resistance and over 3 days of price failing to break above...

lefergs Updated  May 26, 2020

Price has recently tested a strong level of support from a weekly perspective and has bounced away. On the D1 chart price is possibly making an inverted head and shoulders pattern. The 131.300 level acted as support in the past broke below and almost immediately came back above this level. Therefore it is safe to assume price will continue upwards from this level

lefergs Updated  May 26, 2020

On the D1 chart Cadjpy made a series of higher highs and higher lows. this is even more clear on the H1 chart where price mad a double bottom on the trend line. However i missed this initial move, therefore i will be looking for a daily bullish close to then buy or! a retest of the neckline to capitalize on the best possible risk to reward and targeting previous...

lefergs May 14, 2020

On the daily chart, we can clearly see price is loosing bearish momentum by creating smaller candles as it goes into an area of support. There is also a possible inverse head and shoulder pattern forming. It is crucial that a change in momentum takes place on a smaller timeframe before considering going long on this pair. further confluence for this long can be...