Following some recent GBP strength, price has retraced. Reasons for the long trade: Price is at the 38.2 % Fibonacci level of the recent upswing. This is also an area of confluence with previous resistance. Price has also retraced from the 61.8% to the 38.2% Fibonacci levels of the greater downswing A double bottom with bullish RSI divergence and a pin bar...
This pair has been very strongly bullish of late, and it is heavily overbought Price is now in a well respected area of resistance and so a short is worth considering An inside bar has formed on the daily Target would be former resistance which should act as support at 0.7306 area
Price has been testing the resistance zone around the 1.064 area. Following a recent double top, price did not fall very far and a strong rejection of previous support shows there are still many buyers in this market. Should price breakout above this zone, I would target the 127% Fib extension of the entire range.
Following the Trump press conference the recent breakout higher has failed to hold above resistance. Price completely retraced and broke through support, starting a new bearish phase on the hourly timeframe. I am watching for another opportunity to short this index on a pullback. Former support at 11560s has confluence with the 38.2% Fibonacci level. IF the new...
Following a deep break of support, price retraced back above support, but this pair is still looking weak (see hourly). I am expecting a continuation of the recent weakness in this pair, and will be watching keenly tomorrow's price action on the lower timeframes. Decent targets would be around the 38.2% Fibonacci level.
Price recently retested the lows, with price unable to stay below support on the retest. Having broken above the previous consolidation area, I will be watching for signs of bullishness between the 38.2 - 61.8 Fibonacci levels (see chart), if the current retracement gets any lower.
A huge bullish candle on 4H suggests strength in this market. The small bearish candle is probably profit taking and consolidation. If price should break above this candle I will be taking a long position and targeting the top of the range around the $57.40 area. A more conservative target is the $56 level which has confluence with the 61.8% Fibonacci level.
Having bounced at daily support around the 0.716 level, price has retested previous support around 0.7320. Despite a poor NFP number, the dollar strengthened and this pair had a pretty bearish day. A trend continuation opportunity is setting up. Conditions are not optimal, as the RSI is not overbought and the market conditions in general have not been great, with...
Price is consolidating between some significant Fibonacci support There is a double bottom on the hourly chart and I will be looking to take advantage of any bullish trends developing An ideal scenario would be a false break of support to test the trendline. Decent RR ~2:1
Price has slowed/paused at an interesting level of resistance. I am not advocating shorts just yet, but I will be watching price action carefully in anticipation. If the pullback is significant enough we could see the 10800s again, but there would need to be a fundamental catalyst to kick things off.
A Double bottom right along the 61.8% Fibonacci level has me thinking of a long opportunity. It's previous support, the ADX is crossing the DMI- and the RSI is leaving very oversold conditions. I see this as a classic 61.8 - 38.2 fib play. 2:1 RR
..I am not feeling confident about this opportunity emerging. Price is trading right up against the outer edge of the resistance zone and the price action suggests a breakout is close. If there is a false break, then things could move very quickly in the opposite direction. I will be watching keenly...
The setup isnt there yet, but I am watching how price reacts at the trendline. The bearishness has abated somewhat, and price is still above the 21EMA. IF there is a breakout above the trendlines and the 1.065 that holds, I will look for longs. If there is a false break I will reverse my bias and look to get short. Still a little ways to go first...
I am eyeing the 0.75 price for a short opportunity. This is because: Price has respected this level in the past An AB=CD pattern is on the verge of completing right at the level Price is overbought on the RSI
With Brent having started a new bullish trend I am looking for chance to get long. Price is approaching an interesting area of support, and I will be watching for signs of strength. An ideal price is $46 as there is almost pip-perfect confluence with the 61.8% Fibonacci level.
All the recent dollar strength has seen the Euro fall with some real strength. However, price is fast approaching the 1.05 level which has real significance on the all the way up to the monthly charts. As its the 3rd time this price is tested on the monthly it may not hold for long, but any bounce could still be a profitable one. Supporting criteria are on the...
Classic market structure trade. Price is retesting prev resistance, and this could offer a long trade in the short term. Initial Target would be the highs around 1.0810.
The chart speaks for itself. Being Friday tomorrow, I expect price to probably consolidate with some bearishness but the trade to watch for is a bullish reversal.