Scenario 1 I've been in this trade for quite sometime now. I just want to share this, im long on this trade with targets set at .77899 im expecting this pair to go up based on the EMA, and the false downside breakout on the MACD. A break below on the bullish trendline and horizontal 50% fib level plus a low volume, and a red bar could change my mind in this trade...
Resumption of the Bullish Trend. See Chart description
Order limit at 185.00s SL : 183.60 TP 1 : 186.90 TP 2 : 188.00 TP 3 : 192.50s
Lugaw Trading; Strategy: Harmonic Trading with BOBO technique, (BOBO) BUY ON BREAK OUT my version. Enough Said.
Possible Short Opportunity if the price breaks below close below the neckline
Still consolidating in this massive ascending channel, the FXCM dollar index gave out an Inverted Hammer at yesterday's close (Boxed in Yellow) hinting for a move that is Pro USD. Sighted here is a Bearish Bat pattern completing at 11870s could provide another opportunity to go short. On another note.. the Bullish move could resume from here on as the inverted...
USOil forms a wedge pattern with initial Bullish moves in the form of a Morning Star (Boxed in White) hints for further Upside bias. Expecting to reach 58 level for a Bearish Butterfly completion before further bearish moves. Note: Correlation of USOil with USD Index is directly inverse to a high degree.
Expecting a bullish move after putting up an Inverted Hammer on a Daily Close (Boxed in White) up to 1,272s.. Notice the breakout in the RSI bellow. (Expecting to reach Red Resistance Line in RSI before further bearish moves) Still, overall view is Bearish. Setting up Two (2) Entry Orders. Short then Long.
After a nauseating Australian Jobs Report. i feel a bit hesitant to enter this Long trade. But with a modest Risk Reward ratio.. why not?! =) Hope there wont be any shark attacks here.. Lol!
After putting an evening star followed by a bullish engulfing candle pattern, chances of a downward move for the greenback are halved. Still in an ascending channel with a diverging RSI, bearish tendencies still remain. Neutral for now.. shifting to breakout entries recommended.
Note the Evening Star candle formation (Boxed in White) suggesting a further move down. Ideal catalyst for this is a shocker NFP printout, breakout in the S&P 500 to the upside or the breakout in the Descending channel of GBP/USD.
Completing a Bearish Bat (Red) Pattern at 1307s along trend-line resistance (Yellow) provides a pullback down bellow support level at 1197s. If the support holds, momentum will continue its bullish push past Key resistance trend-lines (yellow and red) to complete a Bearish Butterfly (Blue) pattern, thereby providing a pullback to retest former Resistance...
We ended the previous week on top of a BEARISH CHANNEL with an initial bearish signal suggesting further down side move. Take note that this coincides with the RETEST of the BULLISH TREND LINE support witch was recently broken through. RSI is already pointing downwards and SPX500 is forming a double top giving me 4 signals to be bearish on the pair. If we break...
As i mentioned in my previous posts, an almost complete Bearish Cypher pattern is in the works, as well as a possible Bearish Gartley could provide a retest of the recent Highest High for the pair. Observed here is the continuation of the Bullish Trend Line we have since Nov. 12, 2013. In my post "Part 2 Bearish Essentials", conditions were met (4Hr Oversold...
Its just crazy. I won't blame you if you get confused.. but each has its own merit of support and resistance. Just enjoying the hunt! Good luck on your trades!