on the 4hr chart I noticed a really nicely formed head and shoulders pattern come up which than turned into a newly formed support zone inline with the fib retracement of 0.618 so I can safely assume price will hold this support zone and go straight up.
AUDJPY has arrived on my daily trendline. Currently looks like an inverse H+S formation forming, a good entry area would ideally be around the 77.660 region. With Long targets up to my counter-trendline.
if price goes below previuos HH(where bearish momstarted, look for short term LL and break of res) Current pos: formed a HL - break of decending trend look for structure change, enter on HL - ride t othe Highs of HH and maybe to break because on Weekly, its above structual retest area so could go long like a lot.
I have spotted another bullish flag pattern on the cad/jpy market as well. Please make sure to check this timeframe and check on the 1hr timeframe as well for entries because I found out that I'd already missed the entry from when this was posted.
on the usd/jpy market I went onto the 4hr market and saw a bullish flag opportunity which was showing the text book definition so I went ahead and placed were I would like to enter the trade. I have also added in the stop loss and take profit as well.
Please make sure to check the analysis on the 4hr chart and check for entries on the 1hr chart as well thanks guys.
Fundamental Analysis: Although at the beginning of last week there was a decent bullish rally a lot of ground was lost towards the tail end of the week. Depending on how much time is spent on the trade it should be unaffected by scheduled economic events apart from the CPI release on Friday. Brexit always remains an uncertainty and strong volatility can always be...
Currency Pair: EUR CAD Trend Predicted: Down Trend, SHORT. All major indicators are showing a Strong Downtrend of EUR CAD. Multiple indicators have been used, including More updates will be available shortly Bollinger Bands and 100/200 SMA.
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cadchf sees support holding up nicely several times in the past days/month and now the market has formed a falling wedge pattern which compliments the support line that was currently tested.
rick reward is 5.5
In the 4 Hourly graph we can see price action meeting resistance around the $5800 mark. This is shown by the blue box market ‘resistance area’. There has been strong buying action at $5400 market as ‘Potential support No.1’. If enough buyers accumulate then it should push the price past $5800. In this regard if the price pushes strongly past $5800 then the up...
Prices have entered this bearish pattern form emerge. Hopefully it should the go down around the 0.94 area and spike back up to Take Profit.
Pretty simple setups, if you want, you can go sell short and wait for it to spike up and buy or go through the traditional route which is to wait and buy at supposed spike.
Possible long opportunity on GBP/AUD - 4hr and Daily chart appears to show early signs of C-D leg forming - strong bullish signals reversed off weekly resistance at 1.6570 - bearish candles unable to break 61.8 Fib Level and now reversing in a bullish direction - Aiming for weekly resistance of 1.6570 initially but hope to break further.