As you can see by the graph, EURGBP has hit a consistent resistance around the 0.8911 mark. This is indicating that the pairing will drop to the 0.885 support and either break through to 0.8858 and beyond or rebound back to the resistance at 0.8911. This trade can be seen on H1 and H4 timescales so should be easy profit within the next couple of days.
EURAUD has struggled to close above weekly resistance at around 1.6240 since December 2009.
I caught 100+ pips on its previous drop from this level and I'm watching closely to jump on it again.
We have seen a recent break of the 4H trendline and now price is came back up to test its previous highs again, potentially creating a nice double top formation.
I will be...
Looking at the chart you can see the price at the daily resistance level (1.63300) were its rejected twice from here and indicates a likely reversal.
Hopefull or stupid ill soon find out but im expecting a drop to 1.61050 if no support is found at this level expect this to plummet and retest 1.57250 area.
If you go over the the 4hr youll see again a double top...
See the monthly picture of Amazon. This is not a confirmed double top as yet. But there could be trouble if it turns out to be. I always look to the higher time frames to see what influences may be ahead for lower time frames.
Note that most of Amazon's boom is in the era of 'free-money' supplied indirectly via the FED.
If Amazon is going to break down (and...
looking at the 4H chart you can see a double top forming, price hasn't closed above the double top since 20th march. I personally don't see this as a valid setup and won't be taking the trade unless we see a strong close below 146.27. looking at the daily chart we could still push further up as Fridays candle has closed quite low so I am anticipating movement...
The position to be immediately executed is short UKOIL due to the fact it is trading near a previous resistance level which is seeming to be a good market structure level to enter from. The RSI again is not very helpful in conformation but the MA shows us that the price is trading above and therefore price could potentially need to let off steam before continuing...
Following bullish three point correction wave on 4H
pair has put in clear double top , with bearish divergence on RSI . Price action has already broken below structure support signaling further decline. Im looking for price to pull back to broken support at 0.69000, which also happens to be 38.2% Fib Retracement. ATR based...
On the aud/jpy short set up, I see a potential bearish reversal.
Price seems to be in contact with the resistance zone several times so I'm going to go ahead and suggest price will be driven lower hopefully towards the newly formed lower low.
Fib shows 0.382/0.618 retracement depending if you've used the lower low body or wick. Delving into the lower...
Option A price correctively moves to the upside slightly breaking the High and then Retracing.
Option B Price Rejects off the Double Top and drops.
I am only looking for selling opportunities due to the HTF Structure.
Double Top at 1296.76, Sell Limit Could Be On The Cards At 1300, As Believe It Will Spike Above It And Come Back To Reach That Support Of 1265. Depending on the state of the economies, Gold could fly up as a Italy, UK & US are very unstable. Predicting a pullback and US dollar to gain a bit of strength especially against the Canadian dollar. A Buy Stop Order of...
Little bit of different setup this time.
I see it as potential double or even triple top with decreasing highers as the sign of potential trend reversal and rally down.
The fact that it is third top is little bit diminishing the risk/rewards ratio, therefore I will adjust and close the trade in the first signs of incorrect judgement.
Also it could very easily...
Expect double top forming at resistance.
Sell at Resistance
Following Trend (in case of False Breakout)
Double Bottom at .70542.
Closing Descending Triangle
Buy at Support