Price has reached the top of a bearish channel. The last closed candle indicates a reversal, this is also in the same location as Fibonacci retracement zone (although I have not drawn this on). Stops can be placed above the trendline, my profit target is at the 116.238 area. This target is at the bottom of the channel, where the ABCD pattern finishes and where...
EURUSD currently in a strong downtrend and retracing like the dollar is retracing from its strong uptrend, with an 88% chance of a rate hike this month i believe we will continue to see the value of the euro fall against the dollar, i am entering this trade at the 0.5 fib and covering stops for the 61.8 and the 78.6 just to be cautious, we are now approaching...
This is a good opportunity for an entry to go long. GBP/EUR is currently ranging in a bullish channel, price is currently at the low of the channel and so far has failed to breakthrough. Stops can be placed just below the trendline and targets are at the high of the channel. Resistance may be found at the bearish trendline that is forming within the channel (as...
We still have a strong downward trend on the EURUSD and with a bullish trump speech i believe we are going to reach January resistance level 1.047
over the last few weeks we have seen a lot of buyers at 1.05 so this is an area you will need to be careful of and i will be looking to take partial profit here as i have been in since 1.065.
The top of the bearish channel is a good opportunity for a short position. This type of trade gives a good risk/reward ratio, stops should be placed outside of the channel. It is key that stops still allow price to move above the trendline and not be too close to the trendline, therefore the 0.85570 zone is a nice level for this. Targets could be the bottom of the...
*view previous EURGBP post*
Here is an update if my analysis and price has risen! I am now waiting for the 3hour candlestick to close and moving to the 45min/1hr timeframe to get pin point entry to go SHORT.
Price has seemed to breakthrough the trend and is heading up. Pin-point entry might be very soon as MA's have just crossed on the 60min chart (14ma, 50ema). I believe price will touch and bounce straight of the outer trendline for a clean SHORT in future.
We have seen weakness on the dollar index over the last few days giving the euro strength, after looking at the dollar index i believe its starting to form a sideways channel, in the chart you can see the EURUSD is forming a rising wedge in a downtrend on the 4hr chart which is considered incredibly bearish, i believe we are going to see a strong sell off.
**View Previous EUR/USD Post**
Update on this pair. The market has been accurate to my predictions. I'm looking to go short when price bounces off the trendline until just after the previous lower low.
We are approaching the top of an upward channel, this key area of resistance is a good area for a sell opportunity. This is supported by divergence, that suggests that the next peak will be lower than the last - which would fall at the top of the trend line. Before placing a trade wait until the candle closes, if the candle closes outside of the trend line the set...
today i want to share one of my usual setup when trading. It's an harmonic pattern and it is called Gartley. It will complete at the round number (1,4601) within the structure daily zone (blue box). Therefore i'm going to buy this market if and when price will hit my entry point, with stops below X and targets as usual for patterns.
If you want to ask...
I now believe the eurusd bearish bias to be seriously over sold ,
The buyers look like that are starting to gain a control over further falling movements.
A bullish engulifing candle is being created on the 1hr lets see how the candle closes
long story short, i'm going to buy the euro if the actual candle will close engulfing. Price is up against a former daily structure level and the Rsi is showing us an oversold condition, right at the 618 fibonacci level.
Stops below the lows, target1 at roughly 1,25:1 RR, target2 at the retest of the highs.
I'll keep you updated.
If you have any...
there's not so much on my radar today. Nonetheless i've found a nice advanced pattern formation that is near to the completion point. It is a Bat pattern and its D point comes near to the daily structure level i've outlined with the black line.
Always have the bigger picture in mind.
Stops below X, targets at .382 and .618 retracement of AD leg.
Looking at a potential short on the EURUSD in the next few days. Nice channel forming on the 2017 sup & res @ 1.0827. Fib retracement at fib 0.382 on the recent downtrend. looking for the price to touch fib 0.786 at around 1.072 and then reverse down to 2017 support.