Simple trend reversal trade on NZDJPY. Bearish momentum seems to be gone and price has broken up and made new highs now with price breaking the bearish TL.
I am entering long on the 0.618 fib retracement with a target of a new higher high around 72.800 and maybe higher.
Strong Bearish Weekly Break of the Weekly Ascending Trendline. I will be looking for a LH to be made at around 61.8 before going Short.
Target 1: 1.31054 (400-500 pips)
Final Target: 1.2200 (1000+ pips)
This has come across on all GBP pairs that we now have some sort of consolidation around the major bottoms of the charts. In this case with GBPUSD we can see a 4hr head and shoulders pattern forming and coming close to what is expected to be a breakout of resistance 1.275. We already have the 4hr 50MA being broken earlier which can give us this boost to reach out...
Price has finally retested the daily trend line perfectly at a strong level of resistance. From here I expect it to go short and retest the 4hr trend line. However, it could also head up to the daily 0.618 level before dropping down.
I will be looking for Gold Shorts off of 1347.000 Daily Resistance all the way to 1300.000. As I do see Gold making a pullback to 1300.000 (61.8 fib region) before a continuation to the upside Targets will remain the same as before. (1350.000)
Here we can see that the market found support around at the 108.110 zone, we expect a pull back to test the descending trendline.
We will be looking to enter short around 109.169 which will be on the previous support level which we believe will now become resistance, it will also be on the 61.8 Fib and touching a descending trendline.
Broke ascending trendline and found support at 1.32702. If this is the low we would like to see a bullish run back up to the support/resistance level of 1.34426 which would fall inbetween the expected Fib Zone of 50-61.8 before we look to short down to 1.31315
We saw a clear break of the decending trendline that has been respected for nearly a year. We expect the market to find resistance around the weekly level of 1.14067 before a pull back to around our potential long entry of 1.12500.
We will be looking to entry short if we see a rejection of 1.14067 zone before going long at 1.12500.
Respected the weekly level back in April where we shorted down to the bottom of the red zone. The market broke that and found support at the 0.68858 Weekly level.
Expecting a run back up to around 0.70611 before we may look to short.
The market broke through the support zone of 77.772 - 77.525 at the beginning of last month and we have now found support on the weekly level of 75.383.
We are expecting a pull back to retest the previous support zone of 77.525 which we think will now become resistance, also this level falls perfeclty on the 50 Fib from the previous high of 80.779 to the...
We can see a clear break of the descending trend-line that has held strong from August last year.
We have created a new high on the break of this Descending trend-line with the pull back already at the 50 Fib.
We are looking to enter on the 61.8 Fib which is on a clear level of support. The entry will be sent out when the market is open as we will use the 4hr...
I thought I would try out the video feature on Trading View. Excuse the background noise. As the video hasn't been scripted and it's difficult to explain how I frame the markets without spending over an hour going through it in detail, I did my best to convey my outlook on the EURUSD.
1. Larger shorts are still in play and have not yet failed.