Hey Guys... What's Up...
If you are following the idea posts for past two days there were plenty of pattern trades we had in past 48 hrs and market is kind enough & gave Profits.
So here come another Cypher....Lets get ready to Go short on EURAUD
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EURAUD is consolidating on the daily chart and developing bearish divergence with a breakout looking imminent, I am expecting a breakout to the down side to sell the pair with an initial target of around 400 pips.
FX:EURAUD
Missing the "V" shape on this double top, but until now all the behavior is similar to a 2618 trade setup...
Double top, neck broken, found support @1.435$ previous resistance, retracement... (CHECK LINK BELOW )
Now, IF the price hit the 61.8% retracement (previous neck) and IF there's any indication of a reversal, we can sell this pair with an ...
Breaking long-term blue trend-line on daily chart brings sellers attention.
However because of the two days ago pin bar, there are lots of sell position !
These sell positions must be kicked out of the market before heading downward.
So, stops will be triggered if price goes above the the pin-bar, then most of the retailers will be dropped out of the market...
On the back of weak commodity prices and a higher inflation in Euro Zone, this pair had started an amazing rally since April which came to an apex during the dramatic scenes of 24th August.
Now that the commodities have started decent rallies recently on one hand and ECB's Draghi today has signaled a willingness to expand the QE program if needed, this rally is...
Very, very nice setup here. Please see my link below regarding the shorting opportunity of FX_IDC:EURAUD . I did shorting analyses on bigger timeframe. However lower timeframe says the same thing. Recently we are on Bears side!
So we have Almost completed Bat battern @1.5046 with nice Targets.
Target 1 with 1/2.2 Risk/Reward;
Target 2 with 1/3.4...
break re-test of bullish trend line (red) another confluence we have is failure to break above sloping bearish trend line (blue) on 3 multiple occasions; target 1 - 1.37672, target 2 - 1.28656
KEEPING THINGS SIMPLE ON THE EURUSD
(1 day, log scale)
The picture is more mixed here than on the 1 hour chart :
-price was meeting resistance (horizontal & downward sloping trendline), has turned
-the April/May negative divergence worked out
-at the time, RSI was just slightly at overbought levels (I would prefer a larger RSI overbought reading for a start of an...
My idea is based on
Grey boxes are kind of AB=CD which is complete, so this is rather good signal for short here.
Additional odd is confluence with 1.618 fibonacci level .
Another odd is potential Cypher harmonic pattern (brown) to be complete, and - when completed - long from D point.
Orange is potential butterfly harmonic pattern, but do...
This is my first published idea.
When I first looked at this I saw Kijun heading straight up and thought to myself, OK, let's go long, but Kijun is also a lagging indicator. Seeing a kumo twist in the future, and after plotting what I believe to be multiple resistance/support levels, it looks to me like there might be some more long action, but I don't think it...
Looks like a bearish bat pattern is nearing completion on the 60 for EURAUD (though point C is neither a .382 or a .886...) This is nice because it's going with the bearish trend and although we're seeing some bearish movement, I'm hoping that's just so it can get enough steam to make it to the .886.
RSI(14, close) shows we're almost overbought using 80 as...
EURAUD daily setup:
- Price is within a daily descending channel and currently putting in a third touch of the upper boundary acting as resistance
- We have a daily Fibonacci setup with price currently below the 61.8 level which is confluent with the descending channel
- Price is also below the daily 200MA which is confluent with both the 61.8 fib level and...
