There are several EURO news events this morning (pmi´s and retail sales). Depending on whether they are favorable or unfavorable as a whole, we could have an opportunity to trade out of those news events with the reversal of an advanced price pattern that is nearing its completion on the 4H timeframe. Price is already testing the potential reversal zone and this...
In general, I am expecting a continuation of GBP strength the coming week, drawing support from steady economic growth with the revised GDP coming out as expected and recent labour market data coming our positive. The Japanese Yen on the other hand is under pressure with the BoJ revising their growth forecast lower and most of the recent Japanese data...
The analysis above is just my overall bias on the pair. Price has reached the bottom of the channel (also the completion of a harmonic wave) and is beginning print higher lows (indicating a possible uptrend). However, price is still struggling to break resistance (shaded grey area). I will be monitoring this pair for a LONG entry once resistance is broken. Entry...
This pair rose strongly after a higher than expected non-farm payroll number came out (257K) together with a favourable wage gain percentage (0.5%). Because of this strength in US the labour market, the USD immediately became bullish, driving USDJPY up 185 pips. This moved the price of this pair above the B point of a potential bearish Gartley on the 4H and now...
Bearish Crab.
Parabolic Sar getting closer to reversal.
RSI is in overbought territory.
Stop Loss - 1.90964
Short Entry - 1.90556
Target 1 - 1.87811 (6.8 to 1)
Target 2 - 1.86145 (11 to 1)
This pair lost more than 200 pips last Friday, following the release of a disappointing UK manufacturing pmi. This leading indicator of economic health unexpectedly dropped to a three month low of 52.5, while experts had expected an increase to 53.7. When later the same day the US manufacturing pmi came out and was unfavourable, the Yen found relative strength,...
I don't expect to go LONG unless it breaks above the 1.2500 and closes strong above.
Update: Looking at a wedge formation at the first support structure. Looking to take 40-50 pips on this. Happy Trading.
Everything on chart :)
I follow the rule less is more!
Safe and secure entry would be waiting price breakdown trendline + EMA 12 but you might me little to late
So i would suggest here little more agressive entry, drawing trendline accurate on H4 and wait that price reach around EMA 200 (please check your charts) and after price BREAKDOWN TRENDLINE + EMA 12...
Could break either way. This level of support seems to be holding so far. A break to the upside and i will target the two white horizontal lines, a downside break will target 1.65
Gold just bumped the 50% fib level which apparently a major resistance level. I'm looking for a short position with initial take profit @ 61.8% fib level.
- 4 H chart : I found this FALLING WEDGE : maybe this could be LONG in a SHORT time period (still BEARISH on WEEKLY).
- NEUTRAL SUPPORT ZONE btw 1268><1277
- DAILY chart : a test on 200 SMA (could act as support) and give a new run up
Conclusion : I am waiting for the reaction at 1300 (on 1H chart)
(This is my first chart published : advice are welcome)
New lower low, waiting for retest of previous low.
Sell at confluence with 50% fibonacci retracement of the last swing low.
T1 at structure (blue dotted line) which is 1.27 fibonacci extension of the last swing low as well.
T2 at 61.8% retracement of the main swing high in this chart
This is EURUSD 4h.
This is a great opportunity for getting long in this trade as evidence by the price action in side the PRZ, the whole PRZ is tested but not breach meaning that the previews level on the left, as Jason Stapleton always says "Look Left structure leaves clues" and akil also says that. The level is holding. RSI is climbing so we should be climbing...
The Yen has been building in strength through the summer. Here price has entered in to a small range(within a larger downtrend), with price being rejected at the .618 fib retracement and the resistance line, which created a confluence of resistance. Recent candle wicks show rejection at the 101.800 level, so I suspect this retracement may becoming to an end. ...
I believe we will see a break of resistance at the 1.8239 area with a target of 1.83486. This is backed up by the fact that the channel we are currently in is bullish and has been for some time, the entry was determined by confluence of the 618 fib retracement level and the long standing support/resistance we have at 1.81784 which was recently rejected 3 times....
Not a lot of volume the past few days leaves Bitcoin in a CONGESTION phase until June 27 to June 30 just fluctuating without any clear direction. TA cannot be very helpful in such a immature market but a forecast can still be done.
The congestion range is mainly between 582 to 621.
My opinion is:
(1) technically the chances of seeing 550 is unfortunately...
