On FX:NZDUSD , there was a massive drop last few hours. However, sellers losing their control and last few bars show that buyers came in. Last 2 green bars indicate that bulls are there and ready for battle. However, the next structure low (Red Box), which acts as support is the main key zone. It is expected that buyers placed their orders close those levels....
It appears my plan with EURUSD is going accordingly. I love finding and then trading wedge pattern breakouts. Most of the time they are black and white. In my last post I shed some light on the forming wedge. I actually took a short position off the trend line bounce (a risky one to say the least) and it worked out well for me. I caught a good portion of the...
Market has a chance of filling this gap that has been created recently. If we can see a 15 mn candle close above the resistance level then we can go long on this trade. DO NOT GO LONG IF PRICE DOESNT CLOSE ABOVE 207.71. Keep a tight stop just below the entry price and make sure to exit in the rectangle.
On FX:EURUSD , there is an opportunity for SHORT on Monday 1. The price is at resistance zone at 1.0871. Price respected this level few times and it is more likely that it will do again. 2. Trendline (Blue line, dynamic resistance) exactly hits the our reversal zone (red area) 3. Fibonnaci retracment 38% is at the same level. 4. The bars made tweezers, which is...
On FX:EURAUD , the price has no direction bias and it mostly moves sideways. We have no higher high and higher lows. This type of market is great for harmonic traders. There is a potential bat pattern. which gives a signal for entry and where to set stop loss and take profit. Also, it is great risk/reward ratio. The structure low is at 1.5040, which acted as...
In the morning I will be watching for a green to red for another short opportunity, but careful because if it gaps down then could be a long opportunity. Keep stops tight!
This is easier seen on the 5min chart. The S&P 500 has put in an Inverse Head & Shoulders Pattern. This is a reversal pattern. Look to buy the Neckline or the Breakout (shown on chart). Look for Targets around Gap fill.
I will be taking this trade on the 5 MIN CHART. I will wait for a break and close out of the balance area for entry. Stops will go 1 ATR behind the Breakout Bar. Targets are shown on the Chart. Expecting for it to breakdown for a pullback on the Higher Time Frame
After the Major spike in EURUSD last week, it's starting to pullback in a Bull Flag fashion. This usually means a breakout in the direction of current Momentum, in this case Bullish. Price is also working on completing an ABCD Pattern on the 30 min Chart. Zooming in on a Lower Time Frame (LTF) I can see that it's in a small Balance Area. I will look to be trading...
USDJPY Breakout/Breakdown opportunity on either the 5/15 min chart. I will be taking the this trade on the 5 min chart with a BREAK & CLOSE out of Balance Area. Stops & Targets are shown on the chart. Bearish Div RSI.
EURUSD has been in Consolidation this morning. I'm looking for a Break & Close out of the Balance Area in EITHER direction. The Break & Close is my Entry Trigger. Stops go 1 ATR Above/Below Breakout Bar. Targets are shown on the Chart. I'm not sure how much Momentum we will get on the EURUSD today with this being Thanksgiving Week here in the US and Momentum is...
On FX:GBPJPY , we had a trending market last month. The price was going upward, making higher high and higher lows. but the last swing broke the structure and change the market to sideways. The price dropped this week and its time for the correction. There is a valid cypher pattern to go long. Put SL below X leg. In addition, we have a trendline (dynamic...
EURUSD made a move down in the Asia Session and is now setting up a bear flag. I will only trade this to the downside. I will need to wait for a Break & Close out of the Flag before selling. Target #1 is the measure move of the flag's channel (Yellow Line). Target #2 is up to you. I use the next major Fib level for my Target #2's but some people like to use the...
On FX:NZDUSD , the price continue dropping last few hours and it getting close to the structure low at 0.6501, which is also act as support level. Sellers in control of price, but it is expected that they will start taking their profits soon and it will cause to price go up. Also, new buyers will step in, as big orders mostly placed at structure levels. There is...
On FX:EURJPY , the price dropped significantly today and it is getting close to structure low around 131.638. Sellers in control on 1H bars, but it is expected that the they will take their profits at structure low and new buyers step in , which increase the EUR value against JPY. Moreover, the valid Bat pattern appears, which gives clear guidance where to...
On FX_IDC:EURUSD , the market moves sides; there is no clear trend direction on 1H bars. We have a recent support level at 1.5417, the price respect that zone 3 times and it is expected it will bounce again. Moreover, there is a trendline (dynamic support), which exactly crosses our reversal zone, and fibonnaci level 38.2. All those confluences increase the...
ON FX:EURAUD , the price is in consolidation zone on 1H bars. There was a massive drop as it is indicated on last swing (D leg), but bulls power reduced significantly in the last hours, as there were small doji bars,which indicates indecision of the price, followed by the less powerful bullish bars. Thus, it is expected that the price will do its retracement...
On FX:USDJPY , the market is going upward on these 1H bars. It looks, the USDJPY is finishing its correction (retracement) and we have a new impulse leg to start. The price is close to previous structure low at 120.21, which is the X leg of this Gartley. This gives us an opportunity to go long and lock some profits. T1 - 38.2% T2 -...