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Price Action has created a new Lower Low increasing further to the down side. Now we have seen a relief move where price action has retraced back up to a previous support level looking left (around 0.72280)
We also have a Fib confluence level (618) and a oversold signal on the RSI.
Will be taking 2 positions
Target 1 0.71400 retest of the lows (And even handed ...
Since price actions spike up! we have seen strength in the dollar! my bias on this pair is currently bearish due to price action pulling back into previous structure (with fib confluence in the same area) and having a instant reaction once in that zone.
i predict price will drop down to the 1.28100 level (previous resistance now acting as support) BUT WE SHALL SEE
very few trading opportunities today on my radar. Here is one of the most interesting, we're on the daily chart and it's clear to everyone that we're about to make a decision. The structure you see looking left seems very important, and also the RSI way overbought make me think it's going to reverse. Nonetheless, you don't want to short such a trending ...
lately price action didn't go in our favor. I apologize to you if you did take some losses because of my charts, but one of the hard part in trading is to keep using the same methodology (proven to be valid) over and over again, without sabotaging it.
So here we are with one of the usual structure plays on the chart. As you all see, euro has rallied a ...
this is a trend continuation trade: you can tell this simply by looking at the last price moves. The recent downward movement created a new low in the 4H chart, so we are now setting our mindset in bearish condition for we'd want to hop on the trend as soon as price gives us the opportunity to do so. In this case price has created a double top on the ...
this time we're going to take a look at the pound dollar cross; as you can see price has formed a nice double top at a previous structure point in higher timeframe (4H) with RSI divergence (bottom of your screen).
I'm not taking this because i'm already involved with GBP pairs so i don't want to be overexposed, but i think this could be a nice ...
Price on GBPMXN is at a possible band of horizontal support. But at least it is an important structure level.
Price has also broken the 200 EMA on the weekly chart. However, it has recovered in the in recent months from such a level.
Disclaimer: This is not a recommendation or encouragement to take a position, or invest any money. GBPMXN makes both ...
here it's an Head&Shoulders pattern on NZDJPY. I'm very interested on this cross because i think we have a nice rally ahead. On the daily price has formed 3 consecutive candles with buying pressure and we also have a divergence on the RSI. I patiently waited for a break of structure as a confirmation and that happened today.
Now there are two levels where ...
this is a simple structure trade: you can see price is coming back to retest the former resistance that once broken should turn into support. This is also lining up pretty well with a 618 retracement and a psychological number (1,40). You can see also a pin bar just formed with OVERSOLD condition.
All those clues together make this trade a nobrainer.
today i want to bring your attention to GBPUSD. As you can see, looking left, there are multiple structure level that acted as supports or resistances. This level also lines up with the 618 retracement and a psychological number. So i'm going to look for a double top or a simple candlestick formation right there.
I'll keep you updated.
If you want to ...
just wanted to share with you this analysis i've made on AUDUSD. All this starts from higher timeframe, if you take a look at the daily chart, you'll understand that price is at a decision level. The yellow box actually represents the daily structure zone that price is testing.
So the first thing i want to see is that price is at a structure point, then i ...
just wanted to share with you this Cypher pattern that i'm going to take. It completes near the previous resistance and the RSI is in overbought condition.
Stops above X, targets as usual with advanced patterns.
If you want to share your view or ask questions, feel free to write below.
Otherwise, see you in the next chart!
very simple trade, price has completed an AB=CD pattern on this pair, right at the most previous structure level. Also, it has created a nice long wick to the top candle that closed as engulfing, with RSI overbought condition in our support.
Waiting for a little pullback in order to short the market and get at least a 1:1 RR on the first target that ...
this evening i'd want to share a setup that i will closely look at in the next few hours and probably on Monday opening. This is a 2618 trade that's forming on EURNZD. If you're not familiar with this kind of formation, it basically consists in selling/buying the 618 retracement of the leg that breaks the double top/bottom's neckline. Essentially it ...
Based on structure there is a trade setup with good risk reward , grey zone is from daily timeframe , and blue zone is in hourly zone.
In the blue zone you can look for entry reasons accourding to your trade plan , mby in smaller time frame.
i've been watching closely to gold lately and i've found out that it basically respect structure like any other pair i'm trading. So i've decided to apply some analysis to this instrument in order to give you my particular view about it.
The black line represents a daily structure level that i pointed out last week, after the first test price action ...
this is a very basic concept of a structure trade. As you can see above on NZDJPY price just came out from a consolidation period and put new structure highs. At this moment i know my bias would be long; but i can't enter a trade long on the top of the movement, i should wait for price to give me a better entry in order to catch the upward move.