PRICE HAS STRUGGLED TO BREAK THIS KEY RESISTANCE WHICH IS NOT A SURPRISE BECAUSE PRICE HAS ALWAYS STRUGGLED AT THIS LEVEL IN THIS PAIR DATING BACK TO 2008. A TRIPLE TOP FORMATION ON THE 1 HOUR CHART SHOWS BEARS ARE DEFENDING THIS LEVEL. WE HAVE RBNZ STATEMENT COMING OUT IN A COUPLE MINUETS SO I WILL WAIT TO SEE IF THEY ARE DOVISH. THERE'S A GOOD PROBABILITY THE...
USDCAD had formation of Falling Wedge break which is a bullish indicator. Ultimately the goal and target will be 1.2815 being that the definition of falling wedge pattern consists that after break your target will be where the trend begins also ends up being a double top pattern. Along the path are market TP area's at different Supply zones. EP at 1.2470 with SL...
We have seen the 200SMA act as support for this pair in the past. I will be short here to the 61.8 Fib retracement from the december highs. I am playing a similar scenario to the break and bounce from 20th February (noted on the chart). My entry is dependent on PA around 200SMA, SL:184.200 I won't wait for this trade beyond today, although this pair's reaction to...
GU is in a downward trend and has recently been rejected for a breakout. on the 1hr a H&S has formed, and is about to punch thru the neckline. Short with TP1 at next resistance and stops just above the right shoulder. Good luck!
Canadian dollar strength most likely from the unexpected rally on oil as they are correlated with each other. bias is still bullish, we've got a nice pullback to get in with the uptrend. Will be look closely at price action i.e Hammer,bullish engulfing pattern, doji,morning star if price gets to the 0.618 fib level which is also in confluence with some structure...
Looks like EURAUD is giving multiple signals to sell. RSI is now in the overbought zone. But which pattern to take? Bearish Gartley(Blue) Entry - 1.45153 Stop - 1.46240 Target 1 - 1.43379 Target 2 - 1.42283 Bearish Gartley(Purple) Entry - 1.43251 Stop - 1.43400 Target 1 - 1.41859 Target 2 - 1.40999 Bearish Cypher(Orange) Entry -...
after a bearish pennant, this pair broke out in response to the huge QE announcement. Since its release EUR/JPY has been respecting a steep channel, kissing low MA to meet these fast moving conditions. The dark cloud cover w/ assistance from the 12EMA gave me the confirmation to short w/ my TP at 131.033 (OLD level of interest on the Daily) Have now moved my stop...
Major Fib levels confluence and harmonic formation, offering the possibility of entering a short position in a bearish biased market. Looking to place stop above previous structure high and target at the 0.382 retracement of the A to D move.
Price ended the previous trading week at the base of an upward trending channel. Looking for bullish evidence to confirm entry Sunday open going into Monday.
Here are a few "white" degree reversal points. Enjoy! FYI: When a smaller degree low (white arrow) is going to occur at the same time as a larger degree reversal point low (blue arrow), the reversal points of the smaller degree (white arrow) tend to happen on time or early. Same in high points. Daedalus' Reversal Points (DRPs) are based on a proprietary...
Short Trade....Triple Top? I think it may be a bit late to do this however I have been thinking about shorting the AUDUSD all morning. I think that it is still a good short and you can still make a further 40-50 pips. I would looking to get in at around 0.87900 (if it comes back). If it doesn't then afraid this position may be too late. As I wrote this...
The NZDUSD is in a really interesting place right now it is currently trending upwards and looks like it will be doing so at least for the next few days. I am currently short right now however I will be buying and selling several times within this trend. I was long yesterday. This is an incredible opportunity with the average trade ranging from 50-70 pips....
Bull Cypher forming with the overall bullish movement, I will take extended targets on structure since the movement is with the overall tendence.
Check your data to see if this qualifies as gartley or a bat pattern ("X to A" equal or minor to 0.618 retracement)
Looking for double top on structure or 2.618 to enter. For me i will like to see spiking to the 0.382 of bigger retracement and close above previous highs.
I think there is a good chance on a good level.