Daily correction, made an impulse down and is making a 4 hour flag. The flag looks completed ABC and is now making a 1 hour flag off C wave.
Looking for a bounce off of green TL. We already had a bounce off of the 786 and it looks to be coming down for another low to finish a final z wave. If price breaks recent low we will see 1 hour divergence and should anticipate a larger correction to the upside.
GBPUSD is consolidating after a move down. You can trade the correction to the upside, but be aware that it has potential for more downside and trading a correction can be tricky sometimes.
We have been watching this pair for a while and it looks like the correction has finally finished. There is divergence in the corrective structure and a strong impulsive wave from a key fib level indicating a finish of correction. I will be looking to add a second position when it breaks above blue line. I will use my own entry strategy for confirmation as well...
Hello all, I am back from vacation and getting into the groove of things starting with analyzing the dxy 0.54% . As most of you know this index is comprised of major currencies and heavily weighted by the EUR. With that being said, I find dxy 0.54% analysis to be a fruitful place to start, as it is a helpful guide for any other dollar based pairs you choose to...
Potential Trade setup. Bounce off of .707- Double Bottom on larger TF Look for price to break blue down trend, make a flag and buy. Target the light blue TL.
If price action follows the arrows you know where to buy. Target is actually much higher. This is just to show how to get in. execution and entry. Wide stop is just in case we get a spike to the bottom, but really risk should be calculated underneath the smaller flag or the largest one if you really want to play it safe.
Aud is at an interesting point, and is probably best to just stay away from right now. Big Picture It has recently made a large impulse down after failing to break out of a weekly downtrend and is now approaching the daily upward TL. A correction is needed before it can continue further down, to which I am forecasting in the long run. TECHNICALS MACD: 1 Hour...
FSLR has broken out of the long downward trend and is now correcting. Weekly Divergence + .618 key fib level Daily Resistance zone Level + 1.27 Fib extension of last impulse 4hr divergence. Contracting wave correction about to finish. This stock could go lower to the .707, but it is at an interesting point and is worth keeping an eye on. I would...
USD index bearish divergence. AUD wave count. Looking to long near .7150
Long Term trend is bullish. Finding support at Monthly horizontal and .236 Fib 1HR RSI is oversold. Price action seems to be slowing and looking to reverse. In order for me to enter I will need to see a break of the green trend line and supporting candlestick bullish strength. *This is for my journal.
Hello, I am sure many of you are watching Cable. Here's what I see and my reason for a short. Bearish Divergence on Daily Time frame Bearish Divergence on 1hr time Double Top on 4H time frame holding at a bearish downtrend. Also, to note the USD index appears to be moving upward, which would bring this pair down. I believe Cable has a possibility of going...
This cross is at a major resistance level and there is a 15 minute bullish trend that has formed. If this 15 minute TL is broken wait for a retest to fail and short
If 1 hr trendine is broken wait for retest of the trendline then short if it fails. If the 1hr trendily is broken with a 1 hr candle that is strong bearish consider entering without retest.