COPPER HG HG1 HG1! respected the Trendlines highlighted in the previous posts; on the 4-hour chart it followed the Simple Moving Average ribbon as well.
A triangle formation is being reached now.
Could be a Continuation Pattern upwards.
COPPER HG HG1
Like last week, just more confusing
Gann fan forming maybe?
Price might Fakeout and bounce again.
#Patience and wait for a sign.
If I had to bet now I would say Long but - again - let's wait for a clearer view.
Copper HG1! has been trading in a channel lately, and in a couple of trades we profited by the bounce on the descending trendline (magenta in the chart).
Indicators look still quite bearish while the triangle pattern might suggest a continuation pattern high as I think it will go this direction but let's wait for confirmation.
Be ready for action!
AUDNZD might be ready for a reversal on a zone of resistance.
AUD has been bullish for quite long now and the indicators start to show divergence.
The reversal zone has been serving as Support or Resistance in July 2014, May 2015, end of January 2016.
We might want to wait for an optimal entry point and then let the market decide how this will go - possibly with...
GBP on a neckline of a Head and Shoulders formation on the 2-hour chart, just as some volatility is expected for some news coming out that might shake the market.
Indicators seem to show divergence but CAUTION is mandatory now.
If it breaks low keep in mind the soft resistance at 1.2338
Coffee is already almost hitting the trendline formed on the Daily chart.
It broke the 4-hourly trendline some days ago so a bit of extra caution is needed; however, the Risk-Reward-Ratio looks quite promising.
Watch for the opening of the next 4H chart!
XAGUSD has been consistently growing on the Weekly timeframe:
We closed last week with an indecision bar; however, the fundamentals should point higher and the Daily timeframe is still on an upward trend, so this might be a physiological retracement.
Let's see where the 4-hour chart...
EURCAD has been moving in a wide channel since 2013 and its bottom channel (Turquoise line) has almost been reached now.
Definitely a pair to watch for either a Bounce or a Breakout.
If the bounce for trend continuation is confirmed, this should give us a niiiice movement potentially up to the upper channel.
The pair moves quite slowly so this is probably a...
USDCHF has been moving around parity but its dancing days might (hopefully) be almost over.
In the last days the pair bounced between two important moving averages: the 100 SMA and the 200 SMA (in the chart, the Turquoise and Black ones are actually EMAs though).
And all around the roundest round number 1.00000.
This could mean a breakout due soon.
Platinum seems to have revered a skewed Head And Shoulder pattern in December and its upward Trend is now converging towards the first notable resistance.
We are still well within last year's High and Low so more action can be expected.
The key point for me at the moment is waiting to see how the price reacts to the level...
AUDJPY has been consolidating in a Box for 10 weeks now and started to form a Wedge inside that box in the last 5 weeks.
The pair will thus probably give a good breakout soon in one of the two directions with different level of Targets.
Patience required to plan the setup.
Waited patiently for NZDJPY to reach Resistance ~83.50
I thought it would reach it yesterday so I was LONG~82.8
Now good Risk-Reward-Ratio (RRR) on the Reversal SHORT.
Conservative Stop Losses to be put above the time-high at 83.75
And... see how this plays out!
CADCHF during the night was hammering on a Fibonacci Resistance and bouncing between Fibonacci Clusters and the Indicators were showing Divergence.
Decided to go for a Swing trade and Compound ~0.7662
SL just above the resistance
Fibonacci levels did their job properly this time
Let's see if the pair continues its rally short
I was asked a detailed opinion on a forum so I decided to report it here.
The question was about going Short on EURCAD @1.4227 after the bearish pin-bar where the pair closed yesterday.
Looking at lower timeframes I had marked one at 1.4251 which is currently where the price is being contained after dropping yesterday afternoon (the price started to move in the...
USDCHF seems to be heading short following the trend again.
This is the classical trade to be taken early in the trend and compound, adding to the winning position after each retracement (break of the light blue reversal line).
Hopefully this is going the same as the others.
Impossible not to notice the uptrend on CADCHF the last two days; I would say this is a physiological retracement after a whole week trending down.
This is still well within the trendline and which is furthermore following a Fibonacci pattern so far.
The Fibonacci retracement on the H4 zoom shows the Fibonacci retracement as...
The price stopped the 4H downwards trend yesterday (sharp Aqua line) and started going up but is compressed between that and the short-term downwards trend (Aqua line on the top) .
This downwards trend might however come at a crossroads with the medium-term Weekly uptrend (Red line for the latest one and Orange line taken from a low before).
The horizontal blue...