Confluence Factors: 1. Double Top on Daily 2. Close below 50/60 EMA on Daily following a long-legged doji on 3/24/2015 via Daily Chart 3. Rejection of Key Weekly/Daily Resistance at .79000 4. Head & Shoulders Pattern on Hourly Chart 5. Trade is in agreement with overall Monthly/Weekly Bearish Trend
I'M ALREADY IN A SHORT POSITION BUT IF PRICE RETRACES UP TO MY SELL ZONE I WILL LOOK AT PRICE ACTION TO ADD IN ANOTHER POSITION AND TARGET 0.75000. I STRONGLY BELIEVE WE CAN GET TO THERE IN THE SHORT TERM BECAUSE THE LABOUR MARKET IN THE U.S KEEPS COMING OUT GOOD WHICH WILL HAVE INVESTORS/TRADERS SPECULATING A RATE HIKE AS EARLY AS JULY. ON TOP OF THAT AUD...
A lot of news coming out this week for both CAD and AUD but on the technical side of things what I see is a bullish flag pattern forming within the C to D leg of a potential bearish bat pattern. I don't trade flags the same way i trade advanced patterns but I do like when they come back into previous structure as in this case so it's something I will certainly be...
CCI - Drifting from overbought back into the channel indicating reduced upward momentum. MACD - Look at the MACD crossover from relatively high level. A very powerful signal on a daily chart. DeMarker - Moving from overbought falling firmly into the channel. RSI - Bearish divergence. Linear Regression - Bouncing off the top of the channel. Also powerful...
Price retraced back into important structure level. expecting selling pressure here. RBA gov stevens is speaking later and if hes dovish we should easily come down to atleast the swing low.
Recently each time there has been a flag pattern it was followed by an impulse move to the upside. another flag pattern just formed so we could advance to the upside which is also in confluence with some nice resistance turned support structure level. Scenario 2 is If price breaks this important support level then the next level i will be looking at to get long is...
USD is taking a breather ahead of the Fed statement on Wednesday. Looks to be we may have a (minor) reversal that is tradable for a few ticks. I entered at 79.10 and am looking to exit at 79.47.
It's a pretty risk trade, and I'm only taking it because I made a mistake opening a position short on this pair friday. If it breaks upside, it'll simply continue the trend, drop the position and take the loses. Otherwise, if it breaks below because of a gap or something, accept profit and get out too, because it could be a bounce confirmation. Anyway, good luck all.
Support broke & along with strong US fundementals, we can expect further downside for AUDUSD over the next week.. Next major support is at 0.81801.
This particular currency pair representing the two neighbouring economies with some similarities yet different dynamics in which one has larger dependence on mining resource and the other on dairy produce has been in very large sideways move in almost unrecognisable swings and patterns. This is so until you zoom out using larger time frame and look back with...
Price is currently inside a sideways range, a rectangle. Contained by support and resistance. There are sell stops resting below the support level. Market will most likely take those stops out, gather shorts to take out the shorts with a long at the order block that is resting below. Confluence of levels as there is a daily support @8717 Also fib 79.0 supporting the idea.
Short Trade....Triple Top? I think it may be a bit late to do this however I have been thinking about shorting the AUDUSD all morning. I think that it is still a good short and you can still make a further 40-50 pips. I would looking to get in at around 0.87900 (if it comes back). If it doesn't then afraid this position may be too late. As I wrote this...
It looks like we have a double top forming on the GBPAUD. I would be looking to sell at anywhere near the resistance levels and aim for a TP at 1.8300, which is what I believe will be the next level of support. This is a long term trade with a fairly short stop loss 1.84889 compared to the potential upside in this trade. TP1: 1.83871 TP2: 1.83015 Regards...
We have a false break of the inside bar candlestick pattern on AUD/USD. First, the price broke below the low of the inside bar candlestick pattern but then moved back up and closed within the inside bar candlestick pattern which traps the sellers who sold at the break of the inside bar candlestick pattern. Note that the Stochastic and Commodity Channel Index (CCI)...
A possible long opportunity is coming up for the AUD/USD. We would just need a little more movement upwards for me to jump in and say BUY with conviction. All the indicator signals are aligning to produce a message that says the market is ready to shoot up. Signals: Price bouncing off Linear regression. Price bouncing off long term support. MACD moving into...