Weekly – Bearish Outside Candle with bearish expanding wedge pattern
Daily – Breaks the wedge to the downside. Measured move 1.3115. Outside Day posted yesterday
We look to sell at 1.3400 Stop 1.3440 Target 1.3115
Economic figures could adversely affect the short term technical picture.
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=135.8.
But the short term forecast is range bound, so we expect to reach the following targets:
Set the stoploss of these orders at breakout of S2=135.4.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
Oh well what she doesn't know is I was sleeping with her sister... so the joke is on her really ;p
Anyway enough of my love life lets crack on with the trade.
As we can see BTC has been respecting a lovely trend line on this 4H timeframe and we are looking at it continue to do so in bullish manor up to our 10k target... And when we reach it you can all buy me a...
here we can see that USD/CAD was previously in an upwards trending market for a while, and has suddenly broken through to the downside. once it broke through it then came back to retest the support line, to then have a strong move further to the downside towards a major support level. at this level, it then built a strong structure as confirmation for a potential...
as we can see here on the daily timeframe this pair has been trending in a downwards structure for a while, and now we can see a big triangle has formed with a head and shoulders at the top. now we can see that it has approached back down to a strong resistance level and has tested it. because of the nature of this type of pattern, with reassurance from a low RSI,...
The 23% retracement on the red fibonacci at the moment looks pretty weak, a continuation could occur towards 50%-red, a long opportunity of 40+ pips. There is however a major resistance area at the 50% where an extension can form and continue the downtrend, on the other hand a price move past the 50%-red could mean a trend reversal, I can see price moving past...
GBPJPY Daily time frame, 136.000 zone has been tapped off
We have some MACD convergence
Going to wait for daily closure, a hammer formation / dragonfly doji would be ideal to see for buy orders to kick in!
1. This profile is for educational purposes ONLY!
2. The setups given are my own perspective of the forex market and by no means require action!
Weekly – Bullish channel with bearish divergence
Daily – Bullish flag and overbought
4H - Breaking higher from bullish flag - looking for re-test to set longs
Buy AUS200 at 6560. Stop 6520. Target 6660
Overbought and bearish divergence on longer term charts could stifle this move
Check out our FREE Telegram group for trading ideas and...
Monthly – Holds within a symmetrical triangle
Weekly – Bearish Head and Shoulders building but scope for higher levels
4H – Oversold. Stalls and reversing close to bespoke support at 1.7135
Buying EURNZD at 1.7135. Stop 1.7095 Target 1.7230
Higher timeframes offer a bearish bias so caution needed
I previously marked up EURNZD with a bullish prospective ( i have attached the previous mark ups). Price recently broke out bullish after respecting support.
Price is currently moving bearish into what i would see as a retracement. So price has the potential to reach the support i have marked at the grey price line which is also our entry and move bullish again....