HERE WE HAVE A FOLLOW UP FROM THE PREVIOUS ANALYSIS POSTED TODAY ON THIS PAIR. EXACTLY THE SAME AS THE GBPJPY ANALYSIS JUST POSTED. HISTORY HAS A CHANCE OF REPEATING ITSELF. GOOD OPPORTUNITY FOR LONGS TO BE TAKEN WITH A GOOD RISK/REWARD RATIO.
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This time I analyse Oil. I have been monitoring this pair and looking to last Weekly candle close with big bearish momentum. Go down to H4, price looks like making a pattern and for me its in the middle of reversal pattern. It makes sense as Oil needs a pullback before continuation to the downside. Pullback is a part of correction, so it will probably...
The main idea behind this is to use all probabilities we can to get a likely win
- The uptrend is apparent
- There has been a pullback
- The pullback is slowing and at the trendline
We then aim for a decent risk to reward of 3, or above 2 if 3 seems over ambitious.
This is a pennant and represents a pullback from the highs around 1550.
It's testing the pattern's boundary and might break out to resume the uptrend which started in June.
PS: Stochastic has further to go so an upside breakout is more probable.
GBP/AUD - Long Trade
Price has broken the downward trend line making a higher high indicating a change in trend.
- Long on pullback to Demand Zone (Marked Green) if the level holds.
- Taking profit at the 3 Supply Zones (Marked Red).
In a short term downtrend on the euro fairly strong move down and predicting a retest of the current level that held. Possibly can continue lower if we make a new low. Also getting nice slowdown and rejections on the 60
HAVE WE REACHED THE SUPPORT AREA FOR A SHORT TERM PULL BACK TO THE 0.905 ZONE ?
POLITICAL ACTIVITIES AND BOE HAWK TURNING DOVISH COULD PULL THE EURO UP BUT WE STILL SEE THIS MARKET BEARISH ON THE MEDIUM TERM TO THE BOTTOM OF THE RANGE AROUND 0.85 ZONE
Hi Traders, here is my analysis for EURCHF BUYs. The trade is not ready yet, but this is what I am looking to play out. Theres clear traffic straight into a resistance level for a start. For those who don't understand clear traffic, it is usually when a succession of candles of the same colour head into a zone, and price reverses to usually take out those candles...
AUDCAD pair is weakening for the last couple of weeks and a recent pullback from previous low at 0.8889 is now ready to fall again. This time probably re-testing 0.8889. Partial profit is set at 0.89379 while a stop loss is at 0.90577. Risk/Reward for this short trade is 1:1.3
PLAN YOUR TRADES AND TRADE YOUR PLANS
LMT stock has been on a serious charge over the past few months with little push back.
Most of the run's up have been followed with pullbacks between 2.5% and 5% before continuing to rise.
Look for good entry zone taking profit from around 3.5% - 4% range.