Potential to long EURAUD and keep riding the current bullish trend.
Consecutive higher highs and higher lows being made. The bottom trendline has held strong with the 4hr 50EMA
Looking for a new higher high and targeting the -0.27 fib extension for target profit 1.
If this level breaks then the larger fib extension could be reached for over 5:1 RR
LTC/BTC pair shows bullish signals.
Breaking out of a descending channel we were in for the last couple of months,
While in that channel MACD daily gave strong bullish diverge signals.
If price manages to stay above 0.007 BTC it will head towards higher levels .
Taking profits out at 0.5 fibo from 0.012171 high to 0.006061 low which is at 0.009084 BTC and...
-Expanding Wedge formed on weekly chart
-double bottom formed on support trend line on the daily chart; showing momentum to the downside has decreased.
-4H chart; 3 tests of support identify a consolidation. Also shows signs of bullish divergence.
Looking to go long..
Intraday long trade set up on CHFJPY.
I am long from the lows at 108.300 and I am looking to buy on the intraday higher lows. Price has reached some resistance at this current level and I am predicting a little pullback down to the 1hr bullish trendline.
A higher low, rejection of the previous resistance and fib 0.618 level would be ideal for a scale in position.
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.
I am looking to go long on AUDJPY on the next higher low and bounce off the lower trendline which is now bullish.
I have used the black arrows to show that the last 2 lows were in fact higher lows showing a potential shift in direction. This coincides with some nice deceleration on this FX pair after the recent very bearish run.
Another important confluence to...
GBPJPY has reached a daily/4hr support at the Fib 0.618 retracement level. We have multiple bullish wick rejection candles closed at this level and it is looking good for a new push to the upside.
Profit Target is at the Fib 27% extension and then previous highs at 148.500
Stop Loss I have placed below the wick rejection of the 0.618 fib level
Here is a fairly high Reward:Risk trade set up for next week.
GBPUSD is approaching the outer bullish trendline for a 3rd touch and this also coincides with the Fibonacci 0.618 retracement zone. This is a very simple trend continuation set up with a target price of 1.35 achieving a high reward ratio.
However! - It takes 3 touches of a trendline to confirm it. So...