here as you can see on the left we've just completed a Bat formation, and also, price is in overbought condition. These two elements, along with the structure, make me think it could be the starting point of a reversal.
As of now, on the hourly chart, price is creating a double top with RSI divergence. Let's see how the current candle close in order to...
Looking at the daily specifically we see multiple rejections of the 1.41 0.50% monthly fib level
h4 trendline has been broken and tested so am expecting a lower low to 1.395 before a pullback to entry level. tp set at previous daily and weekly low whereas sl is slightly above the highest high of either shoulder in the h&s pattern
Currently entered into a short position on the the EURAUD. Confluences on the chart.
- Multiple 4hr wick rejections of monthly resistance
- 2 daily TF rejections (tweezer tops)
- Momentum slowing
- 4hr broken through lower trend line
This is a current trade I am in where I am expecting price to rise to major trendline. Due to how this trade has played out, I have moved my TP higher as I now believe price may rise to where trend meets daily Res. I have also moved my SL to just below major trendline. If you look on my previous post for this pair you will see my previous TP and SL.
BULLISH week last week for the EURAUD but this had less to do with EUR strength and more to do with AUD weakness. Whilst the AUD remains under pressure the EUR could gain ground but any sign of Aussie strength and this pair could reverse rapidly. Technically this pair is BEARISH whilst we remain under 1.4176 and we are looking to SELL this pair down to 1.3624 support.
here we are on the 4H chart on EURAUD, i've been watching it for quite a bit now. As you can see price is now testing a key resistance level that also lines up with the 618 retracement of the previous leg. As soon as price came to that zone, it got immediately rejected by some selling pressure.
I'm selling at 1,413s level, with stops just 2-3 pips above...
Looking at the 4hr chart specifically, this pair has had 4 indecisive candlesticks on the trendline. I believe this will result in a strong bullish movement making a higher high. RSI indicator is also showing that this pair has been oversold.
I am currently holding shorts on this pair. We have had a nice corrective structure on the 4H and a retracement and rejection off the 61.8 fibonacci level. We have also broke back below and retested 1.40500 monthly support level as well as broke the counter TL on the 4 hour. Currently seeing a small area of consolidation on the 1H time frame before i expect...
this is a simple structure trade: you can see price is coming back to retest the former resistance that once broken should turn into support. This is also lining up pretty well with a 618 retracement and a psychological number (1,40). You can see also a pin bar just formed with OVERSOLD condition.
All those clues together make this trade a nobrainer.
Week commencing 27/03/2017
Traders Dynamic Index
H1 turning Bearish
BEARISH whilst price stays under 1.4749
SELL down to 1.4000 area and see if the BULLS enter the market.
Look to BUY at 1.4000 or above
On this pair, we have a bearish trend with some strong bearish movement and bullish retracements. I am uncertain that the trend will continue as it has not created a lower low but instead bounced off the .786 Fibonacci support. I am quite certain price may rise if still following trend and if not it will create a new high to begin an uptrend. Either way, I believe...
this time i want to share with you a simple structure trade, in order to let you understand how i analyze markets so that i can find the best opportunities.
I utilized two charts in this case for you have to get the reasons behind this thought process.
In the left hand side of your screen, there's the 4HR chart, and you can see price has created two...
just wanted to share with you this simple structure analysis on EURAUD. As you can see on the left hand side of your screen, this pair finally broke the 1,41 strong support that has been created previously. In this case we know it is a short signal, but we should wait for a retracement instead of chasing the price.
So, i wait patiently and now price is up...