This pair is very beautifully creating its higher highs. I was initially hesitant to go long as price was up trending however there were some bearish signals such as lack of strong bullish candles. This bullish push was made with weaker candles beneath this resistance. After a retracement, and a re-test of support, the trendline, or daily/weekly support.
USDJPY is in an intraday uptrend again. The overall trend is bullish however I believe that this is a re-test of the former high and based on how price is approaching the resistance it doesn't signal much bullish strength anymore. Price is currently at a high of an untested zone, the all time high and a Daily evening star pattern.
EURUSD is bullish in all aspects of the form. It took a small double bottom to confirm the major Double bottom on the daily. ADX is bullish during the latest high. Price may proceed to retrace to retest the daily support as it was previously rejected. I will buy upon a bullish reversal on top of support.
AUDUSD provided a daily shooting star on Monday which signaled that intraday it may become bearish. This re-test is after a Bearish Engulfing was confirmed on the prior touch. The 4H failed to break beyond a monthly resistance. I took a 1H evening star short beneath resistance.
I was initially under the impression that UJ might be prepared to retrace deeper. if the 23.6% fib did not hold. The Fibonacci level has held up nicely. Yesterday another indecision candle on top of support, and the 23.6%. In addition, the 4H moving average crossing to the upside, the 1H formed a higher low after forming its higher high within this range. I...
EURUSD retraced to the 38.2 and formed a morning star. Price then broke through a strong resistance. The 1H is looking to re-test support. I will be looking for indecision and reversal candlesticks on top of the daily support or the prior high which is near the low & 38.2%.
I decided to short UJ here as the 4H shooting star at a re-tested area was a bearish enough signal for me to go short. Price has been making Lower Highs on 4H and daily chart. The bullish candles have been forming with a lot of indecision. This entry was taken based on the 4H close, as well as the 1H presenting a strong evening star at a Evening star re-test. My...
I believe that as gold continues to become bullish at support that its willing to break into a higher high. Currently the downtrend momentum is halted by consolidation. Because the overall trend is currently bearish, I will await a reversal candlestick along with volatility on support for any long positions. Potentially a false breakout to the downside. Currently...
USDJPY is hinting at a momentum swing. The overall trend is still up however price has not been making any new higher highs on the daily, In fact, volatility at the high forms a bearish reversal signal. I believe price is pulling back intraday bullish, but this push isn't very strong. Another daily rejection at the high will trigger a short setup for me.
I believe EURUSD is reversing as it formed its first higher high within this consolidation range. ADX was not bullish during this move, however structure was broke. I will look to capitalize on any breakout. I have a zone marked at the bottom of the zone as the daily has formed two bullish reversal candlesticks along with volatility at support. Currently price is...
I decided to display how I mark up my charts. I will be trading EURUSD going forward. I intend on leaning closed into naked trading as I don't use many indicators.
I decided that this pair is relatively close to retracing as the 30min moving average crossed over to the downside and a 30min trendline break. I placed a short order based on the false break close on the monthly resistance. The 4H turned out to be a shooting star at a key area. I believe that Buys are short term over. Now is the time to profit from shorts....
Ethereum has some big swings intraday but multiple timeframe analysis suggests its not mere noise. Price is testing a weekly bullish reversal pattern. Its best to be patient and allow this minor downtrend to cease and form a newfound support level. If an uptrend begins at these lows, Targets could be steep considering where the potential neckline is if a double...
The 4H retraced to the 23.6% fib and provided a hammer which is why I wasn't hesitant to sell, even beneath the trendline. Upon the 4H close and hammer. Price immediately progressed bullish to create a strong higher high, broken correction trendline, as well as ADX mixing in to provide confluence. Intraday the 1H timeframe is a clear opportunity to go long on this...
After the daily close of yesterday, it became apparent that this pair isn't in much favor of an uptrend. I believe that this is an indecision retracement, price has already been rejected at the weekly resistance and 62% fib. It's formed it higher low and now its looking to either push for new highs or begin new lows again. This is a daily setup being monitored on the 4H.
I mistakenly took a minor break of structure and a moving average crossover as a reversal trigger when in actuality it was simply the warning. The trigger is what is presented currently. This 4H clear higher high on our home timeframe. This is trading 101. Simple higher high along with TDI. The daily makes sense as this bullish push is all apart of the daily LOWER...
USDJPY may be slowing down in pertaining to bullish momentum, but a few other things need to happen for a short. A correction trendline has already been broken which is the first sign. The following must occur on the intraday 4H timeframe for me to short. I need to see a Lower low along with the moving average crossover to the downside. then a retest to the...
I decided to go long on gold immediately after receiving a reversal candlestick at a low on top of daily support. This candle also provided bullish volume after breaking a trendline and creating a new high. Price is now on the buy side of a strong trendline as well as the buy side of a strong support. I look forward to adding an entry upon a reversal candlestick...