salsapete

salsapete

My present bias is for a long position in the SPX 1. Price is above the Kumo , favouring a long trade. 2. More than 2 long renko bricks have formed since recent correction. 3. Renko brick has broken above the Tanken-Sen. 4. RSI above 50 ( but not oversold) Barrier = Nearby resistance at 2173.5 Suggested trade Entry @ 2164. Stop Loss @ 2130 ( beneath...

salsapete

USDJPY Medium term logic for this pair is a Crab Pattern. Hurdles to overcome ( if price stays above A ) 1. Trendline resistance and Kumo @ 102.00 - 102.50 2. Recent Swing High (B) @ 103.75 3. Pattern Swing High (X) @ 106.75

salsapete

Possible medium term scenario of British Pound breaking the wedge consolidation to downside , targeting 120 - 121.

salsapete

Wait for NZDUSD price to fall beneath Cloud , then Short . Ideally min 2 red bricks and close beneath the 8 EMA. 1. Stop Loss on opposite side of cloud. 2. Target is trendline support @ 68.50. 2+ R.

salsapete

Potential for Renko Bat pattern reversal for a short position. Criteria 1. Price to be contained by recent resistance level of 1.57 35. 2. 2 Short (Red brick) bars to have formed. 3. Confirmation short brick close is ideally below the 8 EMA. Entry between 1.56 50 and 1.57 00 (PRZ). Stop Loss 1.57 40 ( above X) Target 1 @ 1.54 30. ( 50 fib CD) . 2.4...

salsapete

Possible long term scenario with British Pound breaking the expanding wedge consolidation to the short side , and moving towards 1.20.

salsapete

A short position may be considered with the following criteria 1. Price retraces to 61.8 fib of the CD leg (butterfly pattern ) , which is at the Kumo resistance. 2. Price stays beneath the Kumo cloud, favouring a short trade. 3. There are a minimum of 2 short bricks formed. 4. Ideally price is beneath the Tanken Sen Set stop loss above the Kumo...

salsapete

The Ichimoku Cloud is a filter for the direction we should trade. Short positions are taken beneath the cloud and long positions above the cloud. A long trade is proposed when the following criteria exist 1. Price breaks out from the triangle to the upside and above the cloud. 2. There is a retest of the trendline and or cloud. 3. Price should close above...

salsapete

Trade Gold if : 1. The upper trendline holds beneath 1345. 2. Breakout to downside. 3. Retest of lower trendline for resistance. 4. Renko confirmation of 2 reversal bricks. Then 1. Short with target aiming for prior swing low. 2. Stop loss above initial reversal brick.

salsapete

GBPAUD approaching completion of Renko Cypher @ 1.6978. Potential for a right shoulder formation by .882 retracement. Buy signal confirmation = 2 brick reversal. Long Entry 1.6880 Stop Loss 1.6780 ( beneath X) Target 1 @ 172.40 ( 50 Fib XC) . 3.6 RR Target 2 @ 1.7680 (C). 8 R

salsapete

Renko AB=CD potential pattern. Directional filters favour the downside. Bricks contained by the 9MAV. Entry @ 76.40 ( waiting for confirmation Renko short with second short brick) . SL @ 77.25 ( above the retrace brick) Target 1 @ 75.05. 2.5 RR ( equal legs projection @ D ) Target 2 @ 73.75. 4 RR ( 127 fib ext )

salsapete

Price stuck in the middle of the wedge at 95.50 and the RSI close enough to dead centre. Waiting for the breakout !!!

salsapete

Possible bullish Renko Gartley. Long @ 72.30 (D) Stop Loss @ 71.30 (Beneath X) Target 1 @ 74.00 ( 50 Fib CD). 1.7 RR. Target 2 @ 75.50 (C). 3.2 RR.

salsapete

Possible bearish Renko Cypher. Short @ 48.00 (D). Stop Loss @ 49.00 (Above X) Target 1 @ 45.50. 2.5RR Target 2 @ 43.50 (C). 4.5 RR