1) Price has reached manjor support on the longer term charts
2) Price has broke the downward trendline and now broke the 0.6706 price level
3) Price looks like it is retesting this zone
1] If price rejects this zone then price may be driven to the upside
Looking for a Long (Buy) trade. Risk to reward is roughly 4 so it is favourable.
For my free shorter term...
No point letting this trade turn into a looser now. Two lower highs created, so some structure to help create a logical place to move the stop too. Stop will be now at 1.46825. Worry free trade now, let the market go where it wants on this pair now.
Updates to follow.
Potential break and retest of a head and shoulders pattern zone. We will wait for a clear break and close below the zone and a wick back in as the retest for entry.
Hang Seng Futures HSI1!
Next Long Set-Up
This index made a neat exit of the upper parallel - followed by a pip perfect retest of the same line before reversing higher again to test the first line of resistance at 26764, failing just below here after an intraday high at 26694 on futures.
The 26770 level is looking increasingly significant. A break above here...
There has been a break of the counter trend line. I am looking for a bullish confirmation candlestick pattern at the blue line. This is a support and Fibonacci zone as well as a trend line. If there is a confirmation candlestick pattern I will go long.
USD/JPY SHORT, break of the box it has settled in for the past few weeks. Looking for a close outside the box and a retest of the underside of this box or the supporting weekly trend line it has also broken before entering a 3:1 risk reward trade.
About to hit the monthly support at 1.26
Broke weekly support heading down to monthly then it may retest or break further and head up
could head to the 1.253 level where the impulse break was
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.
OIL under observation for possible LONG positions.
The indicator in my algorithm has shown good results in this last month on the Daily chart (blue rectangles in the original post on my blog).
This ticker has been ranging in a box between 53.00 and 56.85 (apart from a couple of false breakouts long) which suggests - together with macro indicators - that the price...
Another pair that closed on the verge of either a bounce or a support/resistance break.
EURAUD stopped on Friday at 1.41748 with a very short body that suggest a price confirmation in the area that has been a support quite a few times in the last quarter.
If the EUR appreciates, there is still a soft level to consider at 1.41328 so for the moment the...
