Like all the GBP pairs baring the NZD there are shorting opportunities on every pair.
waiting for monday
confirmation on the 4 hour TF and all my rules to be met then i will be opening a short position..
Welcome to everyone.
this is audnzd analysis.
price is just near to monthly supply. Though it is monthly consolidation but we can earn from both side trend and counter as well.
So hopefully we see a good drop.
AUDCAD has approached this weekly resistance level and shown rejection multiple times, looking like a simple and clear trade. Over 1:3 risk to reward ratio. Drop your telegram names in the comments to be added to our free channel.
On the higher time frame we identify a bullish flag pattern. Zooming in to the structure we form a bearish descending reversal pattern towards breaking its previous higher time frame low and approaching a double bottom on the 4hr.
Entry to be taken upon first 4hr bullish retirement as confirmation.
Price had previously been in downtrend for a long time , past the lowest price zone , Price is pulling back into zone and resistance line.
BREAKOUT occurring ???? anytime soon , what can we consider ? Brexit ?.
(feedback ,thoughts or criticism welcome)
comment about your keyzones
We could see EURNOK roll over towards 9.800 support over the next few weeks.
Looking ahead towards rate releases next month - if ECB chops rates aggressively, the Euro will take some hits.
Holding a short bias for the mid-term.
The weekly timeframe outlines a bigger bearish flag pattern with already prior 3 touch confirmations followed by lower lows towards the bottom of the flag. Considering the approach towards the bottom of the channel we see a lower time frame (4hr) flag pattern which we can evaluate from the analysis I have posted above.
Trade active after the third touch...
EURNZD Weekly outlook
Price has been bullish since late July with no major pullbacks. We did see some small areas of consolidation but nothing too major from the bears. We now have a triangle pattern forming with a key level highlighted in yellow. 2 plans on this:
- To be a bull in the pair ideally we would need a break of falling resistance and...
Position: long ''counter trend''
Stop Loss: 95.30
Position open: 16/08-2019
Reason for entry: ABC pull back on lower time frame (Trading the bullish C-Wave) as price action and overall trend on higher time frame is bearish... Let's see how the trade rolles out...
USDCAD weekly outlook:
Seen a recent double top formation with a strong uptrend holding. Naturally, we are looking to break this line and rally back to support levels. We still have to consider further bullish control if we break above the highs.
- To be a bull in this pair we are waiting for a break of trend and target previous levels. USD is...
USDJPY weekly outlook -
Long term bearish trend with some short term bull momentum following wedge breakout. Is there a potential for an inverted head and shoulders pattern? Not putting all eggs in one basket on that plan but could happen.
Rising trend line heading to key resistance above means we are waiting at this level for price to test and...
After witnessing a break through on the daily/weekly bullish flag pattern we only seek to look for buy opportunities.
The break out of the bigger picture time frame was followed by a lower time frame retracement in the form of a bullish flag pattern.
Entry taken upon the third touch confirmation within the bullish flag pattern followed by a 4hr bullish engulfing...
EUR has been really strong against the GBP which is struggling due to Brexit - DEAL OR NO DEAL uncertainty. I predict that there is a short opportunity within this market for the time being. Using the Fib levels , will have to wait & see if price reaches any of the crucial levels (0.618/0.5/0.382) before the down trend continues . Alternative if the Bearish...