The Crypto currency in my analysis is now looking very much like its heading north after half a year of south bound travel. I used a lot of tools during the analysis, in order to make the chart easier to understand I have omitted most.
GBPCAD - Long off the 0.618 Fib
GBP is still strong again the CAD and in an upward trend even with the big GBP sell off after comments form Boris on UK trade deals
Still waiting for an Entry signal however
Looking to EURNZD, there is a good setup in this pair.
Based on EW, I would like to see the price getting higher to my "Area of Value" and I will go to lower timeframe to get into short opportunity.
We can call this intraday trade, in order to confirm my short bias of course I would love to see if the price makes a Lower Low in Daily TF before doing any pullback....
Now that we have a clean impulse out of a very corrective ascending structure, I am looking for an entry on this continuation.
Need price to stay within the previous high and current low as it forms this counter trend move.
This small break out of structure can now potentially evolve into a simple fake out and price could now fall all the way back into the pattern.
Price has given us a very nice impulse out of a corrective ascending channel. This was forecast in a previous post.
All we need now is clean continuation within the previous high and current low and i will be entering this position with 2 trades one to manage aggressively and one to
hopefully hold for the larger move to the downside.
Most of you who've been following my market weekly analysis (Also my fav' TF since it ignores all the news in the background) for the past few months know how I like chaotic messy rainbow colored charts ^_^ but also that I been super bearish since top to bottom =D
I love to see many basic but important TA/PA elements on my charts and thus I have to break it into...
Euro is showing continued weakness from yesterdays PMI news. Looking for the NZD to continue its possible turn higher. If this continues for both this could be a multi day move with plenty of time to scale into this position.
NzdCad has put in a nice high and tight flag with room to go up and a strong flag pole. Howwever be aware of the 15 min as it looks like a head and shoulders pattern which would be a conflicting signal to this setup.
NzdJpy providing a potential shorting opportunity. I would be looking at a short in the higher red zone if we get a pullback and look to continue the short term downwards move for a retest of the lows at least.
On the daily we broke above a level of consolidation with some room to go higher or at least retest this high on the 4hr if we get a pullback. It is a bigger Killzone than highlighted but that is where I believe price will bounce of. Also lines up nicely with a 61.8 retracement in the same zone. Rsi is also overbought currently which indicates strength in the move overall.
USDCAD Bearish Pennant Projection.
The pennant is usually continuation pattern and often appears halfway through a sharp move. This allows a target to be achieved by measuring the distance traveled from the initial breakout to the low of pennant and then projecting this down from the pennant breakout point. The pennant is a short term pattern, should we continue...
GBPUSD Descending triangle, possible continuation pattern. Looking for a breakout to the upside to confirm. Stochastic is heading into oversold territory, a bullish crossover below 20 would add some confirmation momentum is shifting back to the upside.
Market order placed to go long with REV anticipating a continuation symmetrical triangle formation with a nice risk / reward.
If the lower boundary of triangle is broken decisively at a day close the analysis will be falsified.
1. Taking a position here before the next rally with anticipation of a breakout.
2. If the next rally bounces off upper resistance of...