Following on from successful short and a big move down after breaking through the neckline of a H&S pattern up at the recent highs, I'm still favouring a little more movement to the downside on this pair when the recent fundamentals are also taken into account.
After the most recent move down, we have been consolidating in this sideways market for a few days. We...
Looking like BLK has been retracing along the A leg of ABC. Forming a nice looking symmetrical triangle and gaining some support on the lower trendline.
If that bounces successfully in to B Leg, hopefully continue down the C and then a possible breakout and bounce areas. LONG way to go!!
I spotted a fib retracement that hit the 50% retracement line and bounced off. Its headed towards Target 1 on the fib retracement 0.6
I then spotted my previous completed harmonic. We have already hit the 0.3 target so we are prob headed for the 0.6 target.
Target 1 is about 100 pips and target 2 about 200-odd
(D) EUR/GBP - Short: Support & Resistance + Policy Uncertainty
- From the chart, sellers overpowered buyers, bringing down the price level from the tested/highest point at 0.89058. The pair closed below the support line at 0.88453 and continued to decline until closing at 0.87889.
- Although this sell is overextended, EMA 5, 15 and 60 indicate a strong downward...
D1 shows head and shoulders pattern that is being aided by daily structure and long term trend lines. H4 Fib shows B-C retracement has bounced just below the 50% line which was corresponding with the daily structure. Looking for the move down inside the green trend line towards the Red long term trend line and/or the 1.618 Fib extension
Looking for a retracement to the Daily structure line @ 1.10074 where I will look to buy. Putting a SL below the low of the 4H Fib @ 1.09587, and aiming for either the long term trend line (lime green) or the 1.18 extension as we have just breached the 86% retracement in the down BC swing. D1 and H1 StochRSI are both hovering around the oversold line to indicate...
The bat pattern must be my favourite pattern, adhering to the very strong 88.6 Fibonacci level and reacting nicely to that area more often than not. This might be no exception, and it's going to be interesting to see what the currency does at this level. I might wait before trading this setup, in the face of a very strong up move, but in terms of a short bat...
We are expecting the market to continue to drop to the 38 Fib Zone, which is on a Ascending trend line, and also 4hr Support level.
We a looking to buy at 0.79964, we have set our TP around 600 Pips up on the weekly resistance level, but will be actively managing the trade and moving SL once we are around 40 Pips in profit.
We are looking to short USDJPY on the 4hr resistance level of 108.944 and expecting a run down to our TP level of 107.145 (around 180 Pips)
The market opened bullish on the back of North Korea not testing any more missiles over the weekend, all safe haven currencies have lost value sort term, however we expect the market to continue dropping.
NZDUSD broke the descending trendline and is heading back down for a retest. This matches us with the 61.8 fib level so we could see some bullish movement from this pair around that level. Inverted H&S pattern shown here aswell. If criteria is met then longs could be taken around the 61.8 level.
USDCAD continued to move lower as BOC raised interest rates to 1.00% seeing investors run to the Canadian Dollar.
Technically we are watching for a pullback into the lows and 38.2 fibonacci retracement before looking for a short opportunity.