here we have a good oppurtunity to short Aud/Usd and possibly most other AUD pairs as it is extremely overbought and has also tested the weekly trendline resistance and dropped. Right now, we have a possible H&S pattern on the 4 hour tf and price is right under a 4 hour trendline resistance and also fib 61.8 resistance. Very good risk to reward on this high...
Buying Potential - You can see a consolation being formed which was around for about 3 days. If it breaks through it on the upside it could rally to around the resistance (Red colored)
If it breaks the support (Orange Colored) expect it to hit around the 1 month + old support (Blue Colored).
"Gold" currently is looking bearish, We can see a H&S pattern that has formed with a clear retest of the neckline which has failed, a break under "1332.00" will make this move valid.
We could potential look to the left of our chart and aim for significant lows to take profit
1) Expecting a pull back into Daily resistance zone @ 113.847
2) If Daily resistance zone @ 113.847 holds
+ break of trend line expecting shorts to lower bounds of the range @ 112.35
3) Downside target ~ Support zone @ 112.354
4) if downside target @ @ 112.354
is achieved and broken will watch price action in this zone for further shorts towards 110.939 zone
After the tight squeeze on lower time frames of price and finally the break of its most recent low we can see that "Nzd/Usd" has broken out to the downside, this trade was executed due to the break of Wednesdays daily candle a simple 2 bar setup. We have major resistance at "0.7300" while price is under traders should look to go short on any sign of strength,...
After the release of news yesterday we seen the U.S Dollar move lower surrounding speculation and uncertainty.
I have broken down this pair looking at it long term and we have two scenarios
1. A possible rising wedge, a break of support "1.2900" and we will have a clear bearish continuation with sellers looking to break "1.2500" and then attack "1.2000"
The "Euro" put in a Shooting Star candlestick on a test of resistance against the British Pound.
We could possibly be looking at a bearish move.hinting a turn lower may be ahead. A reversal here may give us a right shoulder with will then proceed to give u a "Head & Shoulders" formation which began from around late June. The current setup that is shown is a simple...
Among the ECB speakers due out over the coming days, President Mario Draghi’s will have the most impact this coming Thursday. Last week we seen this pair basically move sideways, with no direction and then finally broke out to the downside. Overall I am bearish on this pair, during the London open we seen this price retest the "1.1200" area, which allows those...
This move was taken due to analysing price action and the momentum of the market on the (4H) chart we took a 2 bar setup that was actually at support. We could potentially see price move down to Support at "1.7100" I currently have a trailing stop loss to lock in some profit if price moves against me.
1) Supply & Demand taking place
2) Retest of major and historical resistance
3)Within a a bullish channel which is ready to rally and break out.
Expecting price to rally back to major support/ supply zone of 0.8752
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Earlier this chart was posted regarding a bearish setup, resistance was set around "1.3250"
This trade was taken due to the break out on higher time frames and a pin bar (1H)
Take Profit: 1.3100
1) BROKEN A DESCENDING TRIANGLE
2) BREAKING A MINOR SUPPORT
3) ON A HOURLY PULL BACK FROM RESISTANCE
EXPECTING PRICE TO BREAK AND OPEN BELOW 1.1237.8 BEFORE WE CAN GO
FOR A QUICK SHORT.
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