A potential short opportunity at the completion of a bearish bat which is the 0.886 retracement of the XA leg. Stops need to go above X. TG1 is at the 0.382 retracement from A to D. TG2 is at the 0.618 retracement from A to D
A potential short opportunity at the completion of a bearish gartley which is at the 1.272 extension of the AB leg. Stops need to go above X. TG1 is at the 0.382 retracement from A to D. TG2 is at the 0.618 retracement from A to D
A potential short opportunity at the completion of a bearish cypher which is the 0.764 retracement of the XC leg. Stops need to go above X. TG1 is at the 0.382 retracement from C to D. TG2 is at the 0.618 retracement from C to D
Last week this major went up a total of 160 pips, gaining ground for a third week in a row and reaching highs not seen since 2002 . On Monday three US data points came out better than expected (including the high impact ism manufacturing pmi) resulting in a 100-pip rally. Tuesday we saw overall dollar weakness while commodities like gold and oil rallied. But the...
A potential short entry at market. Price action has reached a zone where 2 Fibonacci retracements are located. We have some structure in the orange box looking left. There is also bearish divergence on the RSI with overbought condition. Maybe we can wait for a double top for more confirmation.....
Last week the main event for the Aussie Dollar happened on Tuesday, when the RBA cut the rates to a record low of 2% . After a quick spike down, price started to rally a staggering 250 pips in the following two days, since the cut had been anticipated and the statement (mentioning improved demand, high employment and inflation in line with goals) was perceived as...
It is possible, before we reach the target of bat pattern mentioned above on Daily chart, that we can see the price to go test Pivot Zone. For this to happen, the price must break the channel. Let's see how many times will need to test or if it breaks down the area, or a continuation of upward movement to Bat Pattern target Point D.
Timeframe: 1H Looking to go short @ around 51.15 if we get there possibly 2nd entry @ 51.62 Stops above recent highs – 52.50 1st target 1.414 ext. @ 48.82 2nd target 1.618 @ ext. 48.05 / or runner depending on new chart structures. RR: 2.31 Good luck and good trading. Arek JP
Hello traders, I'm presenting you with a trading idea today by using the rules of engagement (IF - THEN) syntax. We have a double top on the 1 hour chart with bearish divergence, now we're waiting for the following conditions to be met. 1) IF close below neckline 2) THEN wait for a 618% Retracement 3) IF Market hits 618% 4) THEN sell to 127% confluence with...
With QE having started on the 9th of March and the Greece situation still being unresolved, I remain fundamentally bearish on the Euro. Not to mention the strong USD, which is weakening the Euro as well. I believe it will continue to be sold off against most other currencies, including the Yen. This pair has been ranging in a 290 pip wide bearish parallel channel...
The cable has been trading in a 215 pip wide bearish parallel channel on the hourly timeframe for over 16 days, providing several opportunities to sell the high along the way. Fundamentally the USD is king, with the Dollar Index printing four consecutive weeks of gains and finally breaching the key 100 level. The GBP on the other hand has softened even though the...
Fundamentally there are several forces at work on this pair. There is a safe-haven demand for the Yen after China’s downgrade of its growth outlook creating some selling pressure while the policy divergence between the FED and the BoJ creates buying pressure. On the daily timeframe it has been trading inside a triangle consolidation pattern since December last...
I am fully aware of the risk that sequels tend not to be as good as the original (Rocky comes to mind), but I could not resist putting this pair on my watch list again. As my last two publications on this one (see links under Related Ideas) left me with a good amount of pips, I thought I would try to cash in again. I therefore present to you the new installment in...
Well to say this has been a choppy week for the euro pairs would be somewhat of an understatement. With the soap opera that is the Greek extension negotiations in full swing and news hitting the wires constantly. With the SNB rumoured to be intervening in the currency market again. And with the ECB minutes showing the consensus was that conducting QE was the only...
A favourable German GDP and Eurozone GDP came out on Friday and there also was some optimism Greece would reach a deal with its creditors next week. This normally should have supported the euro throughout the day, but the market reaction was muted and even somewhat to the downside. The Japanese GDP report Sunday night and the Eurogroup meeting on Monday will give...
Despite weaker than expected UK manufacturing production and industrial production data that came out yesterday and ahead of the BoE inflation report tomorrow morning, this pair is making some gains the last 2 days and is fighting against the downtrend on the daily. The BoE are expected to downgrade their cpi forecast for this year, making a rate hike increasingly...
I remain fundamentally bearish on this pair, given the rate divergence with the FED (RBA cut its rate recently while FED is expected to hike it around the summer). Add to that the positive US jobs report last Friday and falling Chinese imports that are weighing on AUD and we should be seeing sustained selling pressure on this pair. In the trade idea linked under...
This pair fell sharply on Friday on the back of a strong US jobs report with a higher than expected non-farm payroll number (257K) and a favourable wage gain percentage (0.5%). Because of this strength in the US labour market, the USD immediately became bullish, creating enough selling pressure to make this pair lose 145 pips. The diverging economies as well as...