.On the weekly, chart there's a symmetrical triangle, and it's in a downtrend.
It has 6 touches, 3 on either side.
If it goes to plan, the pair should fall lower and break out,
as this is a continuation pattern and not a reversal.
Hey folks, here we have a Bearish cypher on a 4 hour chart that I'm just about to take, from my analysis I can expect a reversal is about to take place.
The valid measurements for a Cypher pattern are:
This is an excellent trading opportunity with a risk/ reward ratio of 1:2
I hope you's all have a great week ahead trading.
USDJPY – 19/03/2017
The value of trading trend channels is that the trader can trade short term, or look for a breaking of the trend line. Be wary of intraday breaks and fakeouts.
Point 3 the trendline was violated on an intraday basis but then closed in the direction of the original trend.
The RSI is also supporting this analysis of a bounce.
We have evening star on the daily, given the daily closes like that. Bearish engulfing has breached the ctl coupled with crossover And H&S formation on the 4hr
I do think gold will find support and then appreciate
Failure to breach the descending trend line would add credence to Friday’s rejection at 50-DMA and inverted bearish hammer formation and open doors for a revisit to 1.05. A violation there could yield a sell-off to January low of 1.0341.
On the higher side, only a daily close above 1.0677 (Feb 17 high) would signal bearish invalidation.
The selling interest have repeatedly run out of steam below 50-DMA since January 31.
We did have a daily close below 50-DMA on Feb 17, but that didn’t work out. So why would it work this time…?
Check out the DMI indicator. We have a bearish crossover, which didn’t exist on Feb 17. Furthermore, talk of Scottish referendum is gathering pace.
Thus, a daily close...
Cup And Handle Being formed on the Day Chart and 4H time frame, price is now consolidating and looking for price to head for the highs, looking for price to stay above 80.500 as it it currently being respected for price to move to OB at 91.900
USDCHF looks to be at an interesting point to me. I'm thinking of going long at 1.0216 (entry would be just above a resistance level at 1.0211, if it manages to break it) with TP at 1.0299 (another longer term resistance level) and a SL at the point I think I would be wrong, which to me is into the body of the last daily candle. At about a half of the ATR on the...
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This is not a prediction - it is an expectation based on hard facts that are out there.
Yes - the markets are always right as I hold no power over the future. But there is a...
As we saw trumps victory caused huge volatility yesterday , however we are still looking for a target zone of around the 1.23000 area possibly even lower. Im still very bullish on this pair as Im expecting a huge rebound to the upside once we are in the 1.23000 zone. but for now small short position. 100 pips or so.
SHORT TERM long , Im quite bullish on this pair , especially after last nights volatility , we may see AUD move out of its weekly range and possibly hit 0.84000 area in the coming weeks , keep a close eye. Trying to keep charts nice and clean.
Non farm payroll has kept me away from the USD pairs as this pair will be very volatile and unpredictable in the way it moves however I have still analysed it. On the 1 hour window im expecting price to keep moving within the side trend for now and potentially come down to 1.31403 and break below down to1.31073, if not it will come down to around 1.31403 and then...
Selling Potential - Its been struggling to break through the 23.6 Fibonacci levels for more then a month. If that level gets tested and broken I can expect it to rally & hit the trend line. Keep a good look at it to check if the breakout is not fake when alert occurs.