Looking for longs on USDJPY going into NY session, DXY chart looks the same and is forming a Right Shoulder atm.
Will be watching this pair closely along with DXY between 11AM - 1PM GMT on the lower timeframes for an entry should this come through.
We've seen a steady increas of SPX (S&P500) Over the last few weeks, This particular level is of great interest as it not only retests the highs from early June and is less than 20 pips from the 618 level of the fib retracement of the most recent higher high and higher low. All whilst still following the channel. If this comes to fruition, we could see a steady...
Waiting for price to reach the 618 level which is also previous support/resistance area. Will only be looking take longs once price reaches the area. If not, will look for another set up. Possibly a continuation set up for this pair.
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.
On the eur/aud, I see bullish momentum followed up by retracement levels between 0.5 and 0.618 which indicates great pullback. Price seems to respect the support zone and does retest it as well so I'm hoping for a clean retest with the price moving higher.
On the aud/jpy short set up, I see a potential bearish reversal.
Price seems to be in contact with the resistance zone several times so I'm going to go ahead and suggest price will be driven lower hopefully towards the newly formed lower low.
Fib shows 0.382/0.618 retracement depending if you've used the lower low body or wick. Delving into the lower...
Uptrending market, respecting the trendline. Retracing back to the 61.8 line before the bulls takeover and head for my two targets. Looking to open twin trades 2% of account balance & move Stop loss to Stop profit +5 pips once the trade is up 30 pips
the chart above is the 1hr chart on CHFJPY and i'm interested in shorting this pair since we're in a very high level and at a structure point. This means i can look for entry reasons on lower timeframes such as 1hr and 4hr chart. As you can see price has recently formed two tops followed by a break of structure to the downside, this gives us the...
here comes a structure trade: as you can see the last downward impulse has broken the previous support, this specific level becomes the first candidate to become new resistance (this it the key principle for structure traders). At this level happen to be also some confluences like a 618 retracement, a psychological number (1,46) and the divergence down...
this morning we could have a chance to get involved in this trade. Now i'm going to explain you why:
first of all, the big yellow box represents a daily structure level, this level happens to line up pretty well with the 618 retracement of the bigger daily leg.
In this cases i seek for trading opportunities down on lower timeframes: on the hourly chart...
i wanted to share with you this simple structure play. If you zoom out or if you give a look at the daily chart, you'll see that we are now testing a key structure zone on the daily. Therefore i use to lower a timeframe in order to catch an inversion with nice risk to reward ratio.
This level also lines up pretty well with the 618 retracement and the...
here we are on the 4H chart on EURAUD, i've been watching it for quite a bit now. As you can see price is now testing a key resistance level that also lines up with the 618 retracement of the previous leg. As soon as price came to that zone, it got immediately rejected by some selling pressure.
I'm selling at 1,413s level, with stops just 2-3 pips above...
here on GBPNZD as you can see we have a nice double bottom (with RSI divergence) right at the completion point of the Cypher pattern. Besides, this level is also a level of structure that lines up pretty well with the 618 retracement of the bigger leg.
The last bullish candle is the final sign of a possible reversal.
We'll see. Stops below the low,...
today i want to bring your attention to GBPUSD. As you can see, looking left, there are multiple structure level that acted as supports or resistances. This level also lines up with the 618 retracement and a psychological number. So i'm going to look for a double top or a simple candlestick formation right there.
I'll keep you updated.
If you want to...
just wanted to share with you this simple structure analysis on EURAUD. As you can see on the left hand side of your screen, this pair finally broke the 1,41 strong support that has been created previously. In this case we know it is a short signal, but we should wait for a retracement instead of chasing the price.
So, i wait patiently and now price is up...