Looks like the swing highs and lows are all following a descent pattern or some sort of channel.
Hoping that another swing high happens so I've placed a limit order with a considerable enough stop loss and a big take profit however, once price hits take profit, it should bounce back up due to previous support level and that the trendline shows lots of support...
In an ideal world, the bulls will push up and retest the trend line &/or 1.17899 resistance then begin a reversed movement towards the 1.16905 support level and I will look to enter short at around 1.17897. At the moment I cannot confirm where my stop loss will be placed as it all really depends on where the reversal begins (If my analysis is correct). If the...
OBSERVATION: Since September 2016 price has been ranging within a wedge. The 1D view is showing that price has closed below the bottom trendline and bounced back up to a resistance zone and closed below it. All EMAs are bearish and the 20 is about to cross over the 50. We could see the start of a downtrend so I will be entering short targeting first 131.650.
Analysis based on the downtrend. I believe that we are at the top of a 4HR swing in a downtrend. Therefore this gives me reason to short this pair down to the support @0.72. Tomorrow we have mid-high volatility news for the NZD. This will affect the chart but in my opinion, not too much. On Tuesday we have some high volatility news for the USD. Again, the same...
Longterm Short after opening gap for DAX "Ger30" same scenario with CAC "CAC40"
Remember to follow French Presidential Elections
Events at North Korea
Take Profit at Previous Swing LOWs appx 9400s
SL- With relatively safe trades .... who needs SL when at worst scenario you can hedge :p
There are some incredibly tasty trading opportunities on USDJPY this week. I've combined my ideas of the flag breakout with my basic knowledge of Elliott Wave Theory, which give me a bearish sentiment for this week. Additionally, we have just broken through the neckline of the head&shoulders pattern and have just retraced to test it. My stop loss is tight above...
Shorting Pair at 0.382 Retracement from previous high which falls on Monthly Support level 1.00. Looking a downside targets of 9.733 to break trend line and hit 1.272 Extension level. i can see this pair going even lower to Weekly Key Level 0.96.
- broken weekly trend line and now in a downtrend
- made a new lower high at the 50% fib level
- 4HR moving average crossover
- 3rd bounce off daily trend line
- first target 1.30 then reassess and look for a break to target 2 (D1)
Possible downtrend using the XABCD cypher pattern and I've also used a trendline which shows a downtrend in movement?
Don't really know how to use cypher patterns so guys only give constructive criticism.
Could possibly retest the trendline and go short.
Take care guys and trade safely.
I've listed these areas (red) which managed to keep testing the resistance line twice and has worked because price has immediately feel short and dropped quite a bit after each retest.
There is a lot of support as well which rallied the price up but I am confident that it will rally back down.
Looking to short this Sunday evening GMT.
Thank you guys and keep...
Downtrend line shows reactions at 1.11 level sending price to 1.098 level which is normally support that is being tested. If the 1.098 level i would wait to the 1.092 level where bullish market intercepts.
If the above points don't work out i would wait to the weekly low of 1.085 and definitely buy. If 1.99 level remains solid and resists it would be a good entry.
Medium 17.6 week cycle shows a low 13/9/16 and 10/1/17. If the orange uptrend gives way then we have targets at 17850 or 17100 (preferred). Long term 17.6 year stock market cycle is looking to turn mega bullish in 2017 until 2035. Worst case is 15200.