The pair after a strong move down has been in a corrective consolidation forming an ascending channel. If anything this pattern tells us is that the pair is not finished picking its bottom.
Also, looking closely at the price action on the 4 hour chart, we can observe the evident struggle on the pair already with more rejections from the top as it reaches the 38%...
Gold has been in a descending channel for a really long time and currently it has bounced back down from the resistance of the channel.
As the price action has strongly stayed inside the channel without any signs of strength to push for a breakout on the higher or lower end, a short is a viable idea on gold with targets at half way point from the resistance while...
AUDUSD has headed up into a strong resistance on the 4 hours and also a key level on the daily chart which adds up to the strength of the level.
The double bottom launched a rally of about 150 pips with a nice risk to reward ratio, giving a chance for a small counter trend play before a possible breakout.
A short on the pair upon signs of any weakness is a very...
On this 4H chart I'm looking for the retest of the mid-channel line followed by a retracement between the 1.2410 and the trendline pointed to by the blue line. That is where I will likely go SHORT to 1.23610 area.
The Russian eco kind of through my game off but I believe the EURUSD will get back on it's main course.
Just in case: If I see some nice price action...
Hi all,
Potential trade coming up on EUR/CAD.
Notes: EUR -1, CAD +5, correlating sister pair is CAD/CHF, (CHF -2).
Price have surpassed a strong area of support which have now become resistance, expecting market to retrace to our potential entry for a short position. Target will be recent lows. SL: above entry. TS: 50 pips.
Dec 04: Currently awaiting pullback...
My previous post related to Silver is linked here. At first we saw the decline below major multi year support.
We then saw establishment of support at 17.326 where for a few days we experienced consolidation with a declining series of high's before last night, where we experienced another drop into the early hours of the asian session.
My positions that were...
I am long SBUX at the moment and expecting it to retest and subsequently exceed the 2013 highs imminently, especially after Starbucks posted earnings of 67 cents per share on $4.15 billion in revenue versus the expected 66 cents on earnings on $4.14 billion.
The stock currently has an average rating of “Buy” and an average target price of $87.33 (Via the ticker...
Waiting for this old support level to be retested as a resistance level. Waiting for a bearish price action signal before considering a short position.
Looking for potential long setup in GBPAUD.
1) Structure play: IF price came down to support zone (red zone), look for price action signal to go long.
2) Pattern play: IF price continue upward and reverse, potential bat pattern forming. To long at 88.6% retracement of XA leg.
The NZD vs USD is sitting at support @ .86348 and has formed a doji at that level. Looking for price to honor support and close above the doji to confirm a reversal. Previously price was trending up and retraced about 50% hitting the support level. I believe price will now attack the all time high level at 88415. Have a great trading day and God bless!
EURUSD should see 1.39xxx sometime this week if we break the 1.383xx resistance marked on the chart. I still see EU as bullish as confirmed by weekly action resulting from the last hammer bar recently having formed. Projecting out further I am targeting 1.4xxxx as a toppish area for this pair to begin shorting at. Until then I am long this pair only.
I like these kind of setups very much: clear downtrend, confluence of support, key moving average level, at a Fibonacci retracement level, with confirming candlesticks. I'm not in this trade because I'm at max risk capacity already, but I'd be short at 8840, stop at 8872, target profit at 8697. This would setup a reward/risk ratio of over 4:1.
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