AUDJPY failed to break the level it's sitting on on a previous occasion and is now making a double top formation. Then there's the uptrend touch. It will be confirmed if and when the Sell Entry level is broken and the trendline as well, meaning that's my cue to go short. Target is the Swing low of the impulsive move leading to the first top. Just an idea, not a...
There is a big bearish candle after a bullish trend.
Dialy Resistance and bearish engulfing, might be good setup for short. Not in position yet, maybe looking for some retrachment up for good RR.
We have three confirmations of AUD/USD Uptrend: 1. Before breaking the monthly support 0.79250 we see that it retraced from the 61.8 Fib and now it is continuing the uptrend. 2. We see AUD / USD Daily Candle Closed above 0.79250 Monthly Support and breaking the counter trend line. 3. Moving Averages on H4 Timeframe confirm a continuation of the uptrend... Now...
Reasons for short 1) Daily Evening star formation at a key point 2) Weekly RSI Heavily Overbought 3) 3 Accumulation and Distribution phases complete Trade safe and do your own due diligence before entering a trade For further insights join me on www.valuedbusinessconsulting.com
EUR has been bullish for a while now and there doesn't seem to be much reason for this stopping, especially with a lot of high impact GBP news this week which we expect to be negative therefore given the EUR the push it needs to run up to our TP area. We expect the market to fall, retest the Monthly support area where we will be looking to find a bullish entry point.
If you are familiar with candle stick patterns there is interesting one here which deserve attention. This is weekly chart (my opinion is that the bigger intervals of candle stick pattern or formation are more reliable then the smaller one) I consider “rising three method” on weekly chart as a strong suggestion for continuation of bullish trend. It is not 100%...
Just sold AUD/USD into the direction of the underlying downtrend. - Price is currently trading at a major downtrend line - Price continuously trades lower. Indicated by red & pink support lines - 240H shows kind of triple top + Candlestick pattern
Sell if the price breaks through the calculated support level (see related link). This will confirm a 5-wave move down and therefore a bigger Zigzag (5-3-5) which supports the daily chart. If not, we will have 3-wave upward move to the near of the top, so buy! The candlesticks could stay in the "Three Stars in the South" formation. (Check the charts below for the...
Long setup of the re-test of the channel line Low risk trade with stops right below previous structure at 103.90 area
price is pulling back into nice structure level which would be a good opportunity to get long. Buyers are clearly defending this level as they dont want price to drop into the area where Canada cut interest rates. I.ll be watching for a buy signal at this level eg bullish hammer or engulfling pattern. My long term target is still at 1.30 but i.ll be targeting...
Price have already been rejected on Friday but there is still some momentum to the upside in place. RSI is going overbought. Action: wait for a double top or some bearish candle formation to short