USDCHF is now trading at trendline and horizontal resistance after the midterm uptrend. The pair appears bullish around this area so we will wait to see a rejection of this level before looking for short entries.
The weekly timeframe outlines a bigger bearish flag pattern with already prior 3 touch confirmations followed by lower lows towards the bottom of the flag. Considering the approach towards the bottom of the channel we see a lower time frame (4hr) flag pattern which we can evaluate from the analysis I have posted above.
Trade active after the third touch...
After witnessing a break through on the daily/weekly bullish flag pattern we only seek to look for buy opportunities.
The break out of the bigger picture time frame was followed by a lower time frame retracement in the form of a bullish flag pattern.
Entry taken upon the third touch confirmation within the bullish flag pattern followed by a 4hr bullish engulfing...
The British pound closed with another solid week of gains across the GBP complex with the GBP/JPY continuing to develop bullish sentiment as the Brexit hiatus continues.
Last week’s price action was supported with gently rising volume and the trend monitor has now transitioned from bearish to bullish sentiment and bright blue, with the yellow trend line also...
Reasons For The Trade (always Fundamental and Technical - always):
EUR: ECB tapering their bond buying, and end of QE now in sight and signalled to the market by Mario Draghi in last meeting.
EUR: recovering from losses from Italian political tensions in November (Italian Budget concerns now no longer a concern)
EUR: Any good or semi-good data will be...
HIT the Like if you appreciate :After USDJPY successfull long call as below ,Now USDJPY forming a down triangle to go down. Very minimum stoploss price given here .Once can confidently go short as the SL is very minimum .This is a zero or hero call.
Predicted using LongBuyLongSellIndicator Script and...
Currently short USDJPY as the risk off scenario looks to continue with geo-political tensions growing between the US and North Korea we are seeing safe haven currencies and commodities appreciating.
Watching the 1HR charts we can see that price has respected the dynamic resistance of the 20EMA and created a C2 close off a 61.8 Fibonacci retracement.
.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.
The asset will have hit the 100 MA so in the short-term will most likely fall, or it could actually break 100 MA, which will make it a definite buy, but till then it will mostly fall then reach support and then rise to hit trendline- swing trade.
The movement made so far, I called 3 days ago which was the strong bearish movement retracing of the .618 resistance. I believe it will bounce of 0.5 fib support to form a head and shoulders pattern eventually creating a bullish movement till daily resistance. I am now waiting to go long.
The EUR/USD seems to be in a bit of a pickle, there was a false breakout represented by the ABCD shape, but there seems to be a reason behind that as the Coppock curve shows that it provided past support for that decline, so I would ignore the false breakout. But, the currency pair has reached a crucial resistance point, this is also represented by the 100 EMA,...