2 nice harmonic patterns on CHFJPY 0.11% to hop in the trend.
Reason for entry:
Price broke a major support level on the daily TF. That gives me a reason to short any harmonic move's into the previous outside return.
Pattern 1 (blue) - Potential Cypher:
Pattern 2 (pink) - Potential Gartley:
BTCUSD -1.03% fell down into wave (c) a third leg of decline. Wave (c) is a motive wave, so it must be made by five subwaves before even consider that correction is finished.
final support zone can be between 8700 level for (A)=(C) and 6800 level towards channel support line and 161,8% Fibo. extension of wave 4.
Currently no action to be taken, but price may pull back to these important level breaks. Keep an eye for a pull back and some Bearish price action to ride the sell wave down further. Failing this, we could engulf here and close back above the break level and this could warrant a long position?
GBPUSD is at the retest of the previous highs that were broken in the last period. As mentioned in the earlier GBPUSD analysis (here below) weekly and daily charts are telling us the trend is overall bullish, and therefore i want to take that into consideration when looking at lower timeframes. Be ready to long this market if we have some kind of...
Price appears to be in a downtrend for the foreseeable future. Price has declined since a bearish pin bar formed off the 200sma in my bearish zone on the daily tf. Price also most recently broke minor support on the daily tf. Hoping for a retest and continuation to get in short to next daily minor support.
today i want to bring you some pure technical analysis. As you can see on the chart above, i've written down some simple rules. As a trend continuation trader you want to follow the major trend: in order to do so having the big picture is key. The break of structure you see here is in fact a multitimeframe break of structure, since we've also broken the...
EURUSD is looking really bearish here as it is trying to hold on by the skin of its teeth. It's looking like it's going to be going short again after this brief retracement fizzles out. I'm looking for euro to come back up to the 38.2 Fibonacci of the last move down to look for multiple rejections to look for a continuation opportunity back down to initial targets...
For people who trade EURJPY there is a further bullish continuation setting up on the 4hour. we are coming back the trend line of the current upwards move which also fall in line with some Fibonacci confluence. if we can reject that trend line once more and close above 122.800 this will signal a buying opportunity up to targets at 125.500 with a nice risk reward
Extremeley overbought, in need of a retracement sits nicely for a continuation trade. Will go short on resistance dependent on the candle close, snatch a few pips and look to re-enter long again watching the news in r.e to unemployment claims and ISM manufaturing.
GBPUSD is currently showing some bullish potential however it is not completely out of the woods yet. There are setups on both the long and short side with this pair where I will be waiting for levels to be taken out to show a clearer trade either side.
LONG: Market has just popped its head above a descending channel after rejecting the 61.8 fib of the upward...
After a couple of weeks of selling for the Aussie I still think we are destined for the downside once again. if the market can come up to the kill zone around 0.74800 where there is significant Fibonacci confluence it will present an optimal opportunity to get short with an excellent risk reward. ill be looking for multiple rejections or double top or something in...
good short opportunity again presenting itself on the euro. a lower close candle after several rejections now of the 38.2 fib as mentioned on my last post on this pair. extended targets could provide an even more lucrative trade