Daily charts represent series of data points where each data point is comprised of the price movement for a single day of trading. This chart type has been used for a long time by traders and typically applicable for swing or position trading.
Although I will not be trading it due to my account size not being able to cover the Daily Stop Loss, the pattern has confirmed. I would expect price to retest the right shoulder low before driving up beyond the neckline. Please leave a comment if you see a reason why it would not be valid.
I see AUDNZD near a critical ATR trend indicator position, just above an 'investor zone' and in a critical congestion zone. The probability is usually for the south in this situation. This is not a prediction.
As this is at the end of long trend south. If it moves south at all - I do not expect much travel south before rebellions north. Price sometimes rises...
usd/gbp seems to create a divergences as well has creating LH's and LL's on the 4hr timeframe.
Waiting for price to create another LH so I can enter short at that moment. The reason I've placed my trade there is because 50 ma holds that level very well so I am hoping that price reaches 50 ma and drops.
on the weekly and daily, I have seen price is in a ascending channel with price retracing to a support zone inline with the fib retracement of 0.618. On top of that, an inverse h&s appeared as well which is inline with the analysis as well.
on the gbp/usd, I drew up some basic s/r lines which have been tested both ways e.g (support being tested for resistance and vice versa). The support line where price has touched seems to have respected that area so I am hopefully preparing for a set up.
There are two outcomes to this, either price breaks support and retests the support zone below it OR price...
on the eur usd, long term movement is definitely bullish on the weekly and daily timeframe. Price seems to have made a large impulse move while being driven out from that huge resistance zone and has made a corrective move on the previous support zone which was also respected from previous data.
Delving into the daily/4hr chart, price made an abcd pattern so I...
GBP/USD was strongly capped on dollar weakness, that's indicate that pound is not rready to go higher, brexit is playing very important role on pound moves. 14 of January is a big day for GBP pairs, I'm forcesting that May will lose on her Brexit deal and pound will fall to my lowest target.
AUDJPY has arrived on my daily trendline. Currently looks like an inverse H+S formation forming, a good entry area would ideally be around the 77.660 region. With Long targets up to my counter-trendline.
This is what I see with GBPUSD.
Going to wait for a confirmation at around levels 1.268-1.27. for a short position.
If EMA65 and the support turned resistance can hold then we could see a big drop of around ~150+ pips.
Daily Chart shows strong support and resistance levels at 1.27 also
If we see a drop id say target should be at around 1.25 but could...
CFTC data shows YEN bears were at extremes a few weeks back. They have started to unwind their positions and thus accelerating Yen's upside.
Nikkei225 which is in close inverse-correlation with YEN is tracking lower too.
We expect market participants to continue unwinding YEN shorts from over -$12bn short to -$7.5bn, which would transcend into a 2-3 handle move...