New long opportunity on EUR/USD after the previous opportunity didn't trigger. Please see annotations on chart for details.
This trade is now for more than a week on my radar. I got short yesterday at 0.7200 even handle. Since then we saw more buying pressure but never closed above X (white horizontal ray). Moreover we formed a double top during the asia session with nice bearish divergence on the RSI. It therefore offers a better risk/reward. Check out my related post for more...
Chart says it all: -Broken and closed outisde really strong trend line acting as resistance -Now not making lower lows -Also found support on the monthly key level 1.9900 and 20000 -which is a good psychological number if it hold -Break-retest-enter -Target key level of weekly resistance 2.0400
My analysis is based on structure and price action. My idea might be not suitable to use as signal. Trade on your own risk. HAPPY TRADING!!!
In case of a deeper price rally into the red area on the chart, we will have a bearish Gartley completion level, a fibonacci cluster zone and a retest of a broken structure to the downside: this confluence triggers a sell.
AUDCAD has completed a bullish crab at a strong level of support. The crab completion level is confluent with 07/2013 lows, CD=2AB, and 2.618BC extension levels. Potential targets on chart.
Bearish move till 0.5 fib level where it will retest previous highs. Then we can see a move up to retest the R at 129.5
Since January 2015 the EURCHF has been in a somewhat dormant bullish trend, with some dips and sideways movement, however there hasn't really been a sign of a definitive trend. We had some potential signs of a bullish trend in July 2015 with a breakout of the range (highlighted by the rectangle to the left. We had a re-test of the range and then a further move...
DIS is displaying bearish MACD divergence after a double top and a break of a 4 month long trendline. I am short on the retest of the trendline until the 93.25 area where a bullish bat could potentially be completed. SL is placed above .618AB with target above the completion of the bullish bat.
USDJPY has completed wave 3 of a potential 5 wave structure. The pair has broken a trendline to complete wave (i) of 5 and is retesting the trendline at the .618 retracement To add resistance, the 200 EMA and SMA lines sit above price and below the SL level. The daily pivot may also add resistance near entry. Entry is placed at 61.8% retracement with SL above...
JPY is quite strong. Actually idea is retest from the bottom SR zone after breakout... SL not so wide, 22% of last biggest correction move. It was already executed, so maybe there won't be retest (of retest) :)
NZDUSD has retested a BAMM line and in doing so has completed a bearish Wolfe Wave. Going short here would target the completion of the Bullish Bat which coincides with both a missed daily pivot and the EPA/ETA combination from the bearish Wolfe Wave. Market entry used with SL above structure highs and target at the completion of the bullish bat pattern.
GBPJPY has completed a bullish bat at strong trendline support. This allows for a 5:1 R/R because a break and close below the trendline nullifies the trade. In addition to the pattern completion, there was a strong breakout from a 1D trendline that may potentially be retested. A missed pivot cluster may add to the bullish bias. We also have bullish RSI...
AUDCAD is nearing the PRZ of two bearish harmonic patterns. The PRZ is confluent with resistance from a Fibonacci cluster (.618 and .786) formed by two structure highs and lows. To add to the bearish bias, there is a missed monthly pivot below price which coincides with .618CD. Entry is placed at the center of the PRZ with SL at 1.13XA (bat) and targets at the...
Hello Traders! I see a very nice selling opportunity on #AUDUSD. As we see on the chart we have a very strong key structure level @0.7161 which was broken recently and price has formed a flag pattern. Now what I am waiting for is the retest of this key level to sell, or breakout of the flag to sell. Besides dont miss the rounding top formation which is one more...
Entry at the retest of the Pitchfork line (Bread and Butter setup)
Learn to Trade Harmonic Patterns at www.plantotrade.com The GBPNZD just broke the lower Trendline and now retests the privous price level. A good opportunity to get involved in the trade. We expect price to move down to retest the previous swing low level.