Getting good signal for long here.. Scenarios; Head & Shoulders pattern on the 38.2% and then we go down to 88.6 61.8 bullish retracement for bullish continuation
watch the 618 retrace level, when it bounces back to there, price drags down.
Having a look at the Daily and Weekly Time frames a cypher is nearing completion. If it completes point D should see us down in the oversold area of the RSI 318 target is 1.49 RR and the 618 target is 2.4 RR
We are long now. See chart
Or retracing lower? We will see this week.
We have had a Double top form on the most recent high so my view here is that we will start to see a retracement. Possible outcomes: We could have a simple retrace to the 618 area of teh most recent impulse leg and then see a futher rise up or A possibel Bullish Cypher is forming, we were jsut shy og the 1.27 area of the B to C leg so it could be classed...
POTENTIAL TREND CONTINUATION ON AUDJPY Price is starting to get rejected @ the 84.2 area and also testing the 50 EMA.. If price holds there could be a move to the downside.. Waiting on daily candle to close to see what will happen.. Right now I'm on the side lines just watching for now! :)
Buying the .618 retracement for a more aggresive entry or waiting for the .786 The .786 is meeting previous support which now could be resistance so better possibilities and Risk/Reward ratio. Good luck guys.
I TOOK SOME GOOD PROFITS OUT OF THIS PAIR BY GOING LONG UP TO THE RESISTANCE LEVEL. I BELIEVE IT IS NOW TIME TO GO SHORT AND CONTINUE MAKING MONEY. I AM EXPECTING AT LEAST %50 RETRACEMENT.
so we have had out Double top, had our impulse leg down and broken structure and have started to see some retracement. If we get back up to the 618 level I would be looking for Bearish signs to get short and as shown 2 possible levels it could come back down into previous support if that breaks coudl go down lower. There is alof of previous structure around the...
We have had our Double top and impulse leg down if we see a retracement to the 618 I feel that pervious support could act as ressitance and see a move to the downside
We have had our double top, broken structure and have now had our retracement into the 618 area. As with my idea on teh 4hr chart im expecting this to now see a move to the downside
So have been looking at other possible ways this pair could move. Now if we look at the Monthly Chart we have had our Double Bottom and impulse leg up and a start of a retracement. And will be looking for the 618 retracement to get long. This idea is all speculation but just a look at a possible path to how we might get there. So from the 4 hr chart we have...
As per my other Ideas around the EUR pairs double bottom, structure broken, wait for the 618 retracement and move to the updside