Reasons for - Clearly price is putting in lower lows and lower highs (Clear Downtrend) - Price broke key level at 120.00 A week back so we maybe heading to next key level ? - Price has put 3 touch on short term 4 Hour trend line - Price put in doji the a bearish engulfing and clearly bearish candle then another bull green candle then another gearish engulfing ...
USDTRY - Ascending Triangle, AB=CD, Head and Shoulders 1W IDEA I think there is a 3 target point. First target 3.0920 Second target 3.1455 Third target 3.1735
Everything is said in the other trading idea. Set back and relax now
Longer Time Frame - still Bearish! www.facebook.com
USDTRY Continuance, maybe... There is a political games in Turkey and region. Keep following crude also.
FIRST TARGET 3.07 THERE IS A RESISTANCE. WE WILL SEE BREAK OR NOT...
Head and shoulders. hello bear market. Get short and dont be afraid to hold. I stated in my other post recently about being careful in this market. Volatility is coming.
HERE IS ANOTHER EXAMPLE OF THE SAME TRADE I'VE BEEN ON ABOUT STAIR CASE: SHORT RETRACE TO 23-38, THEN HEAD TO 76 AND REVERSE TO THE 23-38 ZONE. 1ST: LONG THE BEST ENTRY WILL BE AT 1.0766 SINCE THE PRICE WILL REVISIT THE PHI LEVEL BEFORE RALLY. 2ND: SHORT SELL AT THE TOP OF THE 23-38 AND PHI (FIB) EXPAND TO 1 (100%) MONITOR TRADE FOR CHANGES IN SET UP...
The Euro has made a statement with a clean break and close on the lows. We are seeking pullback triggers to get short. If we move back into the range before a trigger trips then we will avoid. NO TRIGGER/NO TRADE!
Euro hit 50% level, where it bounced from. Short will come if/when we see that level is broken. Then, and only then - sell short to .618 Video with explanations: www.youtube.com
Daily perspective for EURUSD. - ABCD - 4 week range - Descending channel - Bearish overall bias Directional bias dictated on which way we breakout from this range.
Here is a better wave count on the GBPJPY. Pair is currently in a wave iii of 3. No trade setup here, just wanted to share my count. Anyone else have a different count?
This looks really nice to short now, at least in the area highlighted red. My orders for short are placed just below that red area. Then on pattern completion I'm buying up, its about 900 pips away from D leg completion so yeah a long way down.
1)Trend line has held since October, 2) A break has now occurred and a retest of this trend line. 2) A further confluence is moving averages heading downwards Target Area 1- 180.017 Target Area 2 - 175.498 (If 180.017 holds as resistance after target 1 is cleared )
I feel like Oil is due for a bounce due to its sharp decline and 10+ support levels. Playing Oil through options (USO) futures or forex (WTI) is a great risk reward.