Multiple time frame confluence pointing towards a bearish bias. H4 has multiple wick rejections at the 78.6% Fibonacci region, in further confluence with the previously broken trend-line structure.
Positive carry trade.
AUD/USD Has recently had a lot of manipulation price has currently rejected the zone of 0.7100 and closed beneath I believe it's time to fall to the down side. price has currently completed a lower high on the higher timeframes with a clean Trendline rejection including more patterns. I can see price going to the Trendline and the Resistance for one more retest...
- Breakout of parallel channel
- Confluence: 61.8 fibonacci level rejection on H4 which happens to be my H4 resistance level (1.3210)
- EMAs crossover with price action below supporting bearish bias
- Bearish sentiment on sterling with uncertainty looming over brexit
- Price seems to be heading back towards the 1.3000 psychological level
- 60 pips target with 30 pips stop
Now threatening previous structure resistance, it's also the bullish alt bat pattern default first target, the 38% fib retracement.
The inverted head and shoulders default projection will put the price at previous structure support forged last March 1st, positioned at 1.2164.
The bearish deep crab pattern positioned at 161.8% extension on hold at...
AUDCAD bottomed out with an inverse head and shoulders reversal which was confirmed with a break through the neckline at 0.97054. The pattern targets 0.985 which currently aligns with the 200 DMA which is a useful reference for aligning longer term directional bias. Currently we can see price is undergoing a natural pause around the 38.2% Fib. retracement level of...
The precision of the confluence between the two fib retracement levels struck me when I was plotting out resistance levels. On that basis I suggest keeping a close eye when price reaches 12,961. A break above would be very bullish but I think it is likely there will be some retracement from near the 12,961 level before the next wave up.
So XRP is putting in a decent recovery from the Great Crypto Crash of Jan 2018. Based on having broken out of the downtrend marked by the channel, as well as seeing the drop since the ATH as a three wave correction with wave C completing at the 0.786 extension level (see linked idea, in comments) - we can have a level of confidence that we have exited the...
Look at all the fib confluence at the resistance level. We can look to enter short within this point in the market. Market just broke and closed above previous structure resistance which indicates a further move to the upside. Next level to look for is within that red zone at which we can look for a short entry. Stops would be placed above 153.400 even handle and...
Looking at USDJPY on the 4h timeframe we can see a clear trendline bounce with 2 confirmation candles. Low RSI shows a clear oversold making the trendline hard to break. Adding to the support there is the pivot point just on the trendline. Targets towards the top trendline but being cautious of the MA zone that is on the P pivot point acting as resistance.
Good afternoon people, here we have a bullish Gartley ready to take on a 4 hour chart,
This is an excellent trading opportunity with alot of confluence suggesting a buying situation right now,
the measurements for a valid gartley pattern are detailed below.
C: 0.382 - 0.886
D: 1.272 - 1.618
Final X to D: 0.786
I wish you all the best and if you...
So my first attempt to Short EUR/USD failed. That's ok. You can't and won't win them all in the trading business. The market does what it wants.
That said, in my previous post, I mentioned another shorting opportunity in the form of a Bearish Cypher Pattern on the 4H chart. Well, price action is now confidently moving very strongly towards the completion of the...
as always looking for confluences. confluence is key in trading. highlighted key things on the chart. as you can there is a head and shoulders pattern forming. stochastic about to cross. fib retracement. trendline break and re-test
Based off previous structure (support & resistance), a descending channel, Fibonacci confluences, fundamental analysis and psychological analysis (interpreting what other market participants will do).
I've tried to keep this as clean as possible but, there's so much going on in this chart so please bear with me.
Price action on EURUSD has come into a previously identified support level anticipated to be a rally point following the break down below the neckline of an H&S identified on the Daily Charts (not shown/addressed here). This support level was...
1.Daily resistance in control
2.Support broken Resistance valid (Opposing zone breached) (Strong Indication)
3.Profit margin 1:5+ (could hold if there any sign of reversal
4.No major support until 1.62400 (retest) touched multiple time bound to breach
5.Bollinger band no were near Resistance zone which shows a greater probability of reversal