Te chs 1. We are trading above the high of JAN 2016 which is a very significant level (S/R) 2. The Willis Zone bounce indicates a highly probable leg to upside 3. Golden Ratio Correction increases odds of a leg up 4. Weekly Close above previous 5 weekly candles Fundi es In light of the FEDs likelihood of an interest rate hike, bulls will be coming in strong...
I think price will bounce up from this price zone, possibly to 1.3400.
Short term consolidation Downtrend breakout Possible breakout triangle This is my general outlook on the pair. Will be looking for a nice reward risk setup during the upcoming week.
I am looking for a buying opportunity at the monthly support on this pair.
Waiting for price to reject the 61.8% Level Will short this to the breakout point. Risk Reward seems good.
Falling Wedge on the 4 hour. Trendline has been retested on the 4 hour.
Waiting to go long on the retest of the trend channel. A falling wedge seems to have formed on the daily so this pair looks bullish in the bigger picture. This is a simple short term trade setup.
Resistance on the weekly and trend line breakout.
Looking for a potential reversal pattern to trade to the upside. Keep an eye out for a breakout from the trend channel.
C TO D LEG SETUP TO FINISH FOR GARTLEY PATTERN LOOKING TO SHORT AT END OF D LEG NICE FIRST PULL BACK WITH 61.8% RETRACEMENT AND SECOND PULLBACK WITH 50% AND THE FACT THAT 78.6 AND 1.272 LINE UP SO NOICE SEEMS LIKE GOOD GARTLEY SETUP
Here are my Thoughts for the coming weeks. Lots of good Fibonacci confluence, to many levels lining up to be ignored imo. So to start we have some basic patterns forming Bullish Flag, we have had out impulse leg up and come back to the 382 retracement which lines up with previous structure resistance which could turn support. The flag could do a, a,b,c,d...
Looking pretty harmonic here!!!! $42.70 looks like good support on the 4h chart. Might look for a bounce off of the.618 retracement or a move down to point d with a potential reversal zone of $41 to $41.75
Looking at a long entry once I get a candle over candle confirmation off of the .618 retracement of the 26 July thru 2 Aug Elliott 5 wave swing high and low. Initial take profit at the 1.272 extension @1.13011 Stoploss set just below the .618 retracement support level.
Update on NZDUSD: Coming right into previous resistance which is typically a good way to look for a shorting opportunity. In this case the market gives us a bearish bat pattern at the 88,6 %Retracement from X-A. Moreover the Completion point D lines up perfectly with the 61,8 % Retracment from Swing High to Swing Low. Targets and Stops as shown on the chart. ...
Potential Butterfly pattern in confluence with strong fib ratios, which also can make a potential head&shoulder pattern. If we spike down, we will enter a big demand zone of the daily around 1.09. This gives us opportunities for a nice long entry again. Short term short. Long term might be long.
Some setups on my radar, inclusive a alternative option. Super Mario might push it up today or not... I see that for reason TV replace my B leg of the big bat to a weird position, but the landing of the D leg is still valid.