Continuation of bearish pressure from the top of the consolidation range straight through the bottom support region. Again here, we’d expect some form of retracement at least to 0.7320 to retest the broken range before heading lower to 0.7200 on the way to that weekly support region. I did like the prospect of a test of the downtrend before heading lower which is ...
Month Support at the 1.15000 level broken. Week candle also closed convincingly below this level heading lower towards the next Week support level of 1.13100. Looking for 4 hour candle close above this level before entering long for a reversal back up to the 1.14000 level.
2.5RR Trade
Stop 1.12800
Target 1.13950
Looking at bullish off the 4hr trend line and fib level. Then bear market off the daily channel.
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The new low formed at the end of last week failed to break the previous low but has held at the same 1.3080 daily support region. This can be taken as the neckline of our potential head and shoulders formation. Moving averages have been holding price down nicely but the last H4 candle has broken the first level of resistance as price headed towards the 1.3150 ...
Looks like NZDUSD has found market structure in the form of a channel, expecting new highs and price to reach upper boundary of channel drawn in analysis.
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Continued Bullish movement yesterday as price broke and closed above daily moving averages. The moving averages haven’t yet crossed to the upside so we haven’t confirmed further bullish moves but these may now provide a level of support as we look to retest the downtrend in line with the refined Fibonacci retracement region. This could form the lower high in the ...
On the weekly timeframe, we've seen 5 downside wicks as orders have been filled at the 0.7350 support region. This week forms the 6th rejection of this and price already appears to be pulling back from here. Overall we have a weekly downtrend which lines up the downside Fibonacci retracement region with 0.7500.
Price moved largely bullish yesterday breaking back ...
Sell Limit EURJPY @ 131.260
SL @ 131.560 (30 Pips)
TP @ 130.360 (90 Pips) (3R)
TP 2 @ 129.900 (136 Pips) (4.53 R)
H4 Head and Shoulders Pattern, entry based off 50% retracement, stop loss above right shoulder, take profit are previous highs and a proper measured move of Head and Shoulders pattern that aligns with structure.
Month Support held at the 81.500 level, strong bullish close of the previous Week's candle momentum heading higher towards the key Week resistance level of 84.300. Further Day resistance is just above this level at 84.500. Looking for a fail of the 84.500 area before entering a short position
1.2RR Trade
Sell limit 84.500
Stop 85.100
Target 83.900
AUDUSD has rejected our correction channel finding support around the 0.7350 level. We have entered the trade long with a great risk to reward ratio. Will we see AUDUSD trade to the long side hitting our take profits or will we break this channel and continue to trade lower ?
Bitcoin/dollar has shown an Elliot wave 5th wave pattern with a ABC correction on the 4HR time frame , making this a completed wave 1 & 2 on the daily time frame. Price has rejected the 0.618 Fibonacci retracement level with strong bullish candles. Will we see a 3rd Elliot wave to the long side on the daily or break further to the downside ?
**SIGNAL**
__Short EURAUD @ CMP (Current Market Price)__
**SL:** 1.5800 (50 Pips)
**TP 1:** 1.56180 (132 Pips)
**TP 2:** 1.55520 (198 Pips)
**3.96 R**
__Notes:__ Trade based off of Supply structure on the daily. Price hit 61.8% retracement from the highs of the year. Lower time frames are showing a reversal along with divergence on the RSI. Trade is taken on ...
Signal NZDCAD Sell Limit @ 0.91280
SL: 0.91600 (32 Pips)
TP: 0.89800 (148 Pips)
4.63R
Analysis: Entry based off Daily pivot/38.2% Retracement. Stop based a bit higher than 78.2% retracement. Weekly 50% Retracement hit, multiple daily candles failing to bring price higher. Breach of Bull trend channel. Price has been forming distribution and target is 50% level, ...
Looking like a falling wedge pattern leading to support between $1.6 & $1.7, and that's where the buy zone is going to be in this trade.
RSI is showing bullish divergence on the 4h chart, I think it is likely we see another low here before we breakout from the pattern.
Favourable Risk to Reward here
Entry: @ $1.68 - $1.61
Stop-Loss: @ -8%
TP1: @ $1.96,
TP2: @ ...
