USDCNH found resistance at 1.272 level as expected. Our view is still on the upside targeting the 1.618 extension to close the ABCD pattern.
X marks the spot for entry, on a larger degree descending channel, we can look for current price action structure to break the smaller degree ascending channel and head for 0.70500 target swing area, this would require patience. If we see a negative USD we could get the surge to the upside quicker than expected. Boxed areas are significant zones, trendlines atill...
SMP TRADING SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Chart time frame - H4 Timeframe - 1 Day Actions on - A – Activating Event Market consolidating above the 200 mva and has reached a condition of being oversold.If we see a break above the 83.00, a long position may be an option :) B – Beliefs Market move towards the first Target 1 level @ 83.900 ...
Trade had broke the resistance which then became the new support and then retested it. It since then started rising I believe the trade will go up towards the trendline area, which I personally set take profit. The next decision happens from around that area whether it will break or respect. If it breaks the trendline and closes above then I believe that it...
My thoughts on two alternate ideas: IDEA 1 - If it breaks the support zone and the trendline it would go lower to the next zone which is either at the 38.2% or around the 61.8% on fibs (that's more long term those levels as I did the fibs a bit wider, however even if I did a smaller fibs the zones I drew out will still be around key levels). IDEA 2. If it...
The market could make an impulse move down to retest the previous level of support. Wait for a reversal to complete before taking a long position.
Trade log for bragging rights...Ill include detailed analysis elsewhere another time harmonics, elliot wave, wyckoff, supply and demand, divergence, i trade 50 different ways be sure to stay tuned for my paid signals group also have a free analysis group in the making im 4/4 on calls so far heres some of the madness behind the call idk much about volume...
EUR/USD is testing a key level of support. Wait for the break and retest before entry.
USD/JPY is responding to a key level of resistance. As the DXY start to reverse, I expect UJ to follow. I believe this could help UJ drop back to the 109's
EURUSD is heading down towards the weekly support at around 1.16414 then I expect that it would then go back up towards 1.20850 and could then either form a head and shoulders pattern or could go over and continue to go up towards the weekly resistance area at 1.25701. Looking at the indicators such as the RSI and Stochastic also on the Weekly chart, the Rsi...
• After we have reviewed this pair, we are expecting to see more of a downside for NZD/JPY. Everything is indicating that we are still expecting more downside for this pair. This is a swing trade, which means it can take a couple of days if not weeks to reach our potential profit area. Our major confirmation of entry was a 6H bearish candle close below our Weekly...
• As of right now we are expecting to see a potential up-trend continuation for this pair. It seems that price has managed to reject our Weekly Trend-Line as well as our 61.80% Fibonacci (Which aligned with our Weekly Trend-Line). This is giving us a indication that this pair still has more bullish momentum at hand. Despite price not being that favorable; price...
• We've been in a strong consolidation for this pair. As of right now we are expecting price to reach it's previous high area (also the consolidation area high). We've recently seen that price had a major drop (due to news). However, price failed to make a new lower-low, which gave me indication that we can still see more upside to be expected with this pair. We...
@: 1.40370 S/L: 1.39870 (-50.00 PIPS) T/P: 1.42370 (+200 PIPS) Risk/Reward: 4 - 1 Trade Rating: 7/10 (Good) • As market has moved slowly we technically have a confirmation for potential upside movements for this pair. As price seems that it's on its way to reach 1.42500 Weekly Resistance. Which also aligns with our Fibonacci Extension area. • Price overall...