USDJPY has been putting in this Rising Wedge Pattern. These tend to break to the downside. The Rising Wedge is also occurring at Resistance. I'm waiting for the Break & Close out of the Wedge on the 60min before I enter. Stops - 1 ATR Above the Breakdown Bar Target #1 - Measured move of the Wedge Target #2 - 78.6% Fib Retracement You can you also use just...
You're going to be breakout trading. Follow the trend 'till you see reversal. Fibs an old highs and pools of liquitiy are likely places to see reversal, so keep your eye on it. *Warning, Forex trading is high risk, always use a stop* I'm going to place my stop at break even, and make it move with the trend as it progresses.
Here we have some very simple USDJPY analysis. I have a bearish bias on this pair however due to price sitting at around support currently I have provided a long scenario target. As we can see from the analysis USDJPY has successfully broken below what was a Major Monthly Ascending Trendline. The short term trend is also bearish on this pair. Taking all this...
USDCAD has had 9 Straight days of Advance and has been VERY Bullish. It's currently in a nice Rising Channel. The Balance Area at the highs looks like Distribution to me. A lot of times this is a "topping pattern". So, I'm waiting for a Break & Close out of the Balance Area (Yellow Box) and will enter a short position. Stops - Will be 1 ATR above the Breakdown...
Breakout trade opportunity on USD/CHF that has good reason for a temporary uptrend since surprisingly negative swiss retail sales data.
FX:AUDUSD CYPHER : Point B: 38.2% to 61.8% XA Point C: 127% to 141% ext XA Point D: 78.6% XC Target: TP1 38.2% CD TP2 61.8% CD Check links below for daily... Safe Trades;
Just observing similar periods in bubble cycle. Basing my understanding of Bitcoin bubbles/spikes from bitcointalk.org
A complete five wave rising wedge pattern. Price broke the lower rend which is a clear indication of downward movement.
Sell the support breakout.
A breakout followed by pullback. Add to that, a symmetrical triangle breakout.
This is an UPDATE to the short I called out a couple weeks ago and still hasn't hit Target #1 yet. We have ran into the Major Trendline this morning, which is concerning to me. We are putting in the Alligator's Mouth or Megaphone type Pattern. These typically result in a Major Breakout once price gets outside of the range. Still holding onto my short per my...
This is easier seen on the 5min chart. The S&P 500 has put in an Inverse Head & Shoulders Pattern. This is a reversal pattern. Look to buy the Neckline or the Breakout (shown on chart). Look for Targets around Gap fill.
I will be taking this trade on the 5 MIN CHART. I will wait for a break and close out of the balance area for entry. Stops will go 1 ATR behind the Breakout Bar. Targets are shown on the Chart. Expecting for it to breakdown for a pullback on the Higher Time Frame
After the Major spike in EURUSD last week, it's starting to pullback in a Bull Flag fashion. This usually means a breakout in the direction of current Momentum, in this case Bullish. Price is also working on completing an ABCD Pattern on the 30 min Chart. Zooming in on a Lower Time Frame (LTF) I can see that it's in a small Balance Area. I will look to be trading...
USDJPY Breakout/Breakdown opportunity on either the 5/15 min chart. I will be taking the this trade on the 5 min chart with a BREAK & CLOSE out of Balance Area. Stops & Targets are shown on the chart. Bearish Div RSI.
This is just a Technical Analysis on what COULD happen on the Kiwi. I'm looking at Trading the Balance Area in EITHER direction. These Balance Area are typically areas where Smart Money is either Accumulating or Distributing Orders. I think given the Overall Bearish Trend and the way this Pattern has setup it makes the most sense for a downside Breakdown,...
Gold looks like its setting up for a bullish breakout. Targets on screen. Trade with caution! We all know what GOLD can do!