The GBPNZD 50% retracement from the last major move appears to be holding. Indicators are suggesting oversold values and weakening bullish pressure. The red rectangle is the projection based on the 50% retracement. A pending sell order has been place a few pips below today's low at 1.748. SL is safely above the highs of this retracement. GBPNZD likes to make...
Small inside/doji bar on resistance and trendline. Also trading with the trend
the market has shown a very aggresive breakout from the linear consolidation channel shown above. these are strong signs of a retest to the previous structure low (blue trend line) great short oppurtunity
The EURNOK is approaching a huge resistance area. Price hasn't broken this area since this time last year. I will definitely be watching this for either a long or short. Waiting for price action to confirm!
Hello traders, Both patterns cannot be taken simultaneously. It is one invalidates the other. Potential long opportunity 1245.13 with 3 drives pattern confluence, trend-line support and follows bullish move up. or potential short opportunity 1298.25 minor resistance confluence. Typically I look at RSI conditions (overbought, oversold or divergence). Feel free...
Key support at eurusd is 1.08. So I try to short it to the key level while it not hit and later will see what happens.
With the strength of the dollar seemingly unstoppable (at least until December interest rate news comes out), USD seems like a good bet in general. In particular NZDUSD made the Morgan Stanley chart of the week (see link), in terms of bearishness. Also, New Zealand PMI just came out a bit lower than previous which supports this assertion. On the technical side,...
this was a potential opportunity that I had on my radar yesterday, unfortunately the markets decided to do absolutely nothing but go sideways creating a channel. If we breakout of this channel to the upside I'll be looking at a third harmonic move setting up a potential selling opportunity as we come into previous structure resistance starting at the 187.40's...
As many of you know today is FED day as the FOMC has its Interest rate Decision & Statement coming out today at 2pm (New York). The expectation is that there will be no changes made at this particular time so most of the “volatility” and “reaction” will be based off of the tone of the statement as trader hunt for any clues of when the rate hike may occur. This is...
Market have traded nice Elliott waves correction pattern abc. Now continuation down is expected as price reached strong resistance zone and last swing Fibonacci golden ration retracement of 61.8%.
I will never recommend any one to sell in an upward trend. I personally would wait for price to come back in bottom trend line and Buy again if it does not break out. Patient is the key of success.
Naked chart with Price Action with Supply and Demand Zones and S/R Lines. Have feedback or questions let me know!
Here we got a little setup for next week to watch out for, its the infamous Bat pattern after we got a double top at resistance we are now forming the Bat pattern. If price retrace up to resistanceand we see an overbought RSI, we go short with stop above resistance with a very fair R:R for this kind of trade. Take care in the markets in the coming week, the...
Due to Numerous factors stated in-chart, a continuation of EURNZD's Concave downtrend is likely to continue. Feel free to leave your thoughts and comments, it is always appreciated. If you found this chart interesting or helpful in any way, it only takes one click to make someone's day! Happy Trading!
We found our target zone yesterday and reversed out of the acceleration channel signalling that buying pressures are waning. The fourth wave invalidation level was tagged yesterday as well towards the end of the day session so that locks in the magenta count as our primary and the white three wave corrective count as our alternate. Ideally we'd like to see the...
POTENTIAL COMPLETION OF XABCD PATTERN ON AUD/JPY, WITH THE COMPLETION LEG FINISHING ON THE 0.382 RETRACE OF LONG TERM SWING HIGH/SWING LOW. A BEARISH REVERSAL CANDLE ON 30M TIME FRAME MAY ADD TO FURTHER CONFIRMATION OF SHORT TERM SELLING, WITH THE 91.30 HANDLE ACTING AS STRONG STRUCTURE RESISTANCE. DAILY SUPPORT ACTS AS A NICE POTENTIAL PROFIT TAKING AREA, SHORT...