Here we have a nice little 4HR double top right along a broken daily ascending trend line as well as the daily 78.6% bearish fib acting as resistance. Seems to be forming a Cypher harmonic pattern with a risk to reward of 1:3.6. If this pattern completes then we could well see a continuation of price down to 1.28500 for a swing trade
Potential CBO short for UCAD, has been ranging in a daily wedge / channel for a while now, with a recent overshoot to the upside momentum and volume has dropped especially after the initial rejection from the major resistance level, UCAD is starting to break down. We created a smaller up trend / rising wedge on the 4hr and have now broke the support and are...
GBPNZD is going to treat us very well this week if the pattern is correct.
Most of the time when im reading the patterns, im getting them right so lets see how this will play out.
I'm about to do a live trading video on it, so stay tune and wait and see.
Trade Safe - Trade Simple
On higher time frames (monthly / weekly) UJ is showing a triangle pattern, with a ranging / sideways market confirmed by the 50 EMA, we have no overall long term bias in terms of trend. Moving onto smaller timeframes, on the daily we have an ascending channel with a ranging market between the S&R, Now on the 4hr we have a rejection of the support, a break of the...
1) Price has been in a general downward trend since JANUARY last year. #trendtrader
2) Price is coming to the roof downward wedge and we may see a reversal.
3) It has also reached 78% point of the Fib retracement and it may see resistance
4) The RSI is also coming to the overbought area but hasnt quite reached it yet
1] If we see the price break the...
1] Price has shown a massive surge to the downside and I am expecting a retracement.
2] The upward trendline has been respected and touched 4 times (see green up arrows)
3] Slight divergence on the RSI indicator for the 4hour may indicate change
4] RSI is approaching Overbought areas
I will be moving SL to entry after roughly 1R to protect my capital as there...
EURUSD was doing exactly what I was hoping for. My analysis said, its going to have one more low. And it did. I closed it for profit, it was £1400.- on this trade.
Later on today will do a video on my channel, how I managed to get this trade and what my thought process was.
Will do a bigger EURUSD analysis on this pair because the upside...
This is the time when these two major pair is about to talk to us.
Let's see the EUR viewpoint : - The price is breaking out from the weekly trendline and it's making a beautiful pattern formation that we can recognise. The way to trade this, is now to wait for the confirmation and get into the buy.
BUT here comes the USD viewpoint: - The price...
Okay so we have our beloved Gartley pattern here on the EURNZD and this set up looks to be a very good one because I'm expecting a Kiwi strength in the next coming days so that should be the main driving force of this short, will it happen? Let's wait and see
This is a continuation of the analysis on BTCUSD
(see older posts to get the full picture).
The market is evolving exactly as foretold.
Now the new "impulse 12345+xyzwxyz correction" combination has been
formed, that means that the higher trend(global 12345 bullish trend)
is about to continue.
Also there's some confirming this divergences, on 5m.
We're ranging in a falling wedge at the moment. The high value areas are the double bottom of the falling wedge and the outer structure (3rd touch) for the completion of that pattern. Since we're moving very correctively on the daily and are getting that arcing nature, it's highly probable that we can reverse from the double bottom (AKA previous daily low on the...
Weekly bearish flag pattern with market momentum pushing towards the top of the trend before a wave of sell orders.
On the 4hr we see a break out and bullish wedge pattern formation towards the upside.
Higher weekly time frame we identify a bullish flag pattern after an impulse from its third touch confirmation. Zooming into the lower time frame we can see a bearish descending channel approaching its third touch confirmation. Further looking into the 4hr we can see a bullish flag pattern within the descending channel so perhaps we need to be ready for a...