AUDNZD is nearing the completion of 3 potential bullish patterns at the retest area of long term trendline support and a significant S/R zone. The wave count indicates this may be the beginning of primary corrective wave C and this could potentially be the start of a 5 wave impulse equal to or greater than the strength of corrective wave ((A)). Bullish RSI and...
GBP/JPY IS APPROACHING SIGNIFICANT RESISTANCE AT 194.59, OFFERING A LOW RISK SHORT TRADE AS A DOUBLE TOP MAY POTENTIALLY FORM. PRICE ACTION PREVIOUSLY SUGGESTED THE 194.59 LEVEL WAS PROTECTED BY SELLERS, A REJECTION OF R1 AGAIN EXPOSES THE DOWNSIDE OF 190.97 (S1) - A BREAK OF THE SHORT TERM TRENDLINE THAT HAS FORMED WOULD ADD EXTRA CONFIRMATION OF FURTHER...
EURCAD has completed a 5 wave impulse structure with an extended third wave. Waves 5 and 1 are similar in both time and price and wave 5 has completed near the top of the 2-4 channel. Bearish RSI divergence provides further indication of a potential top. Sell on rallies with a stop above wave 5 peak T1: In Wave 4 price territory - around 1.425 T2: Near .618...
AFTER AUD/JPY RECENT GAP AND TEST OF A LONG TERM 0.618 RETRACE, IT HAS FAILED TO BREAK ABOVE PREVIOUS LOWS; TWO TESTS OF STRUCTURE RESISTANCE AND BEARISH PRICE ACITON OFFERS UP A GOOD RISK REWARD SHORT OPPORTUNITY. A SIGNIFCANT BOUNCE OFF THE NEW 0.618 SWING HIGH/SWING LOW AS WELL AS A BEARISH ENGULFING CANDLE, INDICATES THAT AUD/JPY REMAINS CAPPED BELOW THE...
WE HAVE A BEARISH BAT HEAR VERY CLOSE TO COMPLETION. THIS SMALLER BAT ADDS TO THE PREVIOUS EURNZD CHART I POSTED WITH A BIGGER BAT PATTERN ON THE HIGHER TIMFRAME THE D1 WE HAVE AN AB=CD COMPLETION AT STRUCTURE AND THE RSI IS EXTREMELY OVERBOUGHT, SO THIS SMALLE BAT THAT WE HAVE GOT HERE ADDS TO IT AND WE ALSO SEE THIS COMPLETION CLOSE TO WHAT SEEMS TO BE A...