EURUSD (4H) is flashing both a double bottom and a curve. Both together suggest greater probability of a move north on this time frame only. Expand chart for a better view. This is not a prediction.
Supplemental: if EURUSD moves north expect the DAX to head south - this is the general rule, but can fail.
Yesterdays trading posted a hammer candle as EURUSD failed to reach the 7th of March low and we are now back above key support at 1.12000. The hammer candle is a bullish reversal signal and is a good sign the bulls may be regaining control. The 1.12000 support level also coincides with the 61.8% Fibonacci retracement level of the entire bear market that ran from...
CONSTRUCTIVE CRITICISM WELCOME. Confluences as annotated. I'll ideally be looking for rejection within the 61.8% to 78.6% fib region before taking this long.
On the higher timeframes such as the daily chart we can see that NZDJPY seems to be consolidating between 75.00 and 76.50.
We can see that on Friday price closed giving us a decent low test candle on the daily bouncing off our support level (75.00) forming a beautiful double bottom pattern. Ideally we would of wanted the body of the candle to be smaller or a...
Hi guys,
this is my last idea for this year. I hope it'll bring you some insights. First of all, the yellow box is representing a good structure level in the daily and weekly charts, that is the basis for each and every trade i place. After that, you can see the D point of a Gartley formation (though it's not valid at the moment) right near this spot. Alongside,...
Goldman Sachs has stumbled and now there is much debate out there about what next to do. As usual some are shouting "enter long now", whilst others are saying "stay out" etc.
For me, it's very simple i.e. I just need to wait on a favourable time frame, somewhere between 2 - 6 hourly if I'm to go north. It's difficult to go short as there could be a rebellion of...
Looks like confirmation is just about in for this double bottom pattern on Equifax stock (EFX).
There is also a gap down that needs filling on this chart.
Keep an eye on this stock as following confirmation of an Adam & Eve Double Bottom pattern we could be looking at a target around 85 with a stop loss around 52.
Following a double bottom pattern maybe BCE has finally found a bottom, if the bull move continues we are looking at a target of 43 with a volatility stop around 39.20.
Maybe just wait for the price to keep increasing to make sure this is not in fact a double top, in which case the movement could be bearish. I am siding on bullish though because of the direction...
Hey guys,
this is quite particular as a case study. Here on GBPCHF i've gone down to a lower timeframe because i was looking at the daily chart and i saw a double top with RSI divergence. Thus i went on the 4hr chart and looked for trading opportunities at the retest. Guess what i've found: another double bottom with again, RSI divergence at the second test. At...
Hi guys,
on the daily chart EURNZD is in oversold condition and it's also testing a key structure zone. That's why i've highlighted the yellow box that you see above. In cases like this, i like to go on smaller timeframes looking for additional clues to take a trade. In this case i've found multiple hints: first of all, on the 4H chart we can see a couple of...
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