- 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)
- taken out previous higher low and made lower high
- evening star formation at 38.2 fib level
- moving averages crossover
- fib target D1 lines up with key level of support (1.22500)
- slight head and shoulder pattern also
We have an opportunity to get long with a break and close above monthly resistance. Historically when this has happened the price has retraced for a brief retest before heading up.
Lets see how this pair responds this time, the risk to reward is big enough for taking the risk (for me).
Do your own analysis, we see lots of different opinions on this pair. I...
i want to share another analysis of mine on the Gold. As usual, it starts on higher timeframe. On the left hand side you can see the daily chart where i began analyzing this, and you can see price is approaching a structure level that acted as support two times in the recent times lining up with 618 retracement of the bigger impulse leg.
today i want to share this top down analysis on AUDUSD. As you know, i start my trading analysis on higher timeframe (to get a bigger perspective), and then i enter the market in lower timeframe.
On the daily chart we recently exited a OVERBOUGHT condition on RSI, that's indicative of an overextended market, near to a Cypher completion.
So the bigger...
I let the chart do most of the talking.
But the main ingredients in this setup is fibonacci retracements to predict entry, target and stops together with previously tested structure areas that is of interest for building this case.
Oversold condition together with the 0.618 is my signal.
Lets hope we get filled, and lets see how this plays out.
This pair has broken above key weekly resistance which is now acting as support. This area is confluent with a third touch of this ascending trendline and the 61.8 fibonacci level. Prices are now retesting the counter trendline and if we see bullish price action i will enter long with first target at the 27% extension fib level (1.2715) for 2:1 risk/reward and...
Difficult to gauge sentiment with the political and economic instability in the US and the EU, albeit less so in the latter.
The pair hit a year high last week of approx 1.075-1.077. There was 4 touches of this high which quickly retraced. Currently, the pair is in a consolidation phase and waiting for breakout. If the the loosely drawn, ascending triangle holds...
i've been watching closely to gold lately and i've found out that it basically respect structure like any other pair i'm trading. So i've decided to apply some analysis to this instrument in order to give you my particular view about it.
The black line represents a daily structure level that i pointed out last week, after the first test price action...
after being correct in predicting the upward move on this pair (see attachment) we took our profit near 83.00. Now i changed my mind, just watching price action. I'll explain you why.
Basically we are testing a strong resistance zone, both in the daily and in the weekly, therefore we could expect some strong resistance here. In addition to that, we also...
61.8 fib rejection, a CTL will trigger a short entry down to target 1.39200. Monthly showing bearish engulfing pattern with the weekly still threatening to break below daily support of 1.41300. A clean break below this level on the weekly time frame should cause huge bearish momentum down to target.
CADCHF during the night was hammering on a Fibonacci Resistance and bouncing between Fibonacci Clusters and the Indicators were showing Divergence.
Decided to go for a Swing trade and Compound ~0.7662
SL just above the resistance
Fibonacci levels did their job properly this time
Let's see if the pair continues its rally short
this morning during my analysis i've spotted this nice opportunity to sell the pound against the dollar. Not often it occurs to see such a good confluence. So i thought i could share with you this outlook. As you can see above on the pound price is testing a daily structure level (blue rectangle ) that happens to be also a psychological number and the...