Lovely shorting opportunity on the 4 hour.
Previous daily structure for possible reversal
Can trade off of the break out candle - or wait for a pull back to the consolidation zone then enter short
I'm more aggressive so i will be taking the trade depending on how markets open
check on Daily TF you may see if clearer what i am seeing
We have a corrective pattern forming this looks to be a contracting flat however cannot confirm this as of yet so will watch closely for confirmation, with this is mind will be looking for the third wave down to complete a 3 wave pattern using the 1hr 270 fib as a target profit at a price of 126.819..
With a possible expanding flat completed, will be looking for a break of the 4hr trend line and confirmation. If a 1hr confirmation occurs then will be entering this with a target profit of the daily 270 price of 1.26274.
Potential sell opportunity this week, has completed a 5 wave corrective pattern with divergence, will be looking for the next 1hr impulse down with the 270 as target profit. This would give us a complete 3 wave pattern in the 1hr.
If structure holds this pair should bounce back from its bullish trend line since the start of last month, and with added confluence of the 61.8 fibonacci level, we should have seen the end of this downwards correction. The bearish momentum of USD/CAD has been overturned since coming out the daily parallel channel and subsequently this pair has been forming higher...
USD/JPY couldn't break the monthly support of 112.02 convincingly, hence a reversal in momentum following the rejection of this level. Price structure has been broken as the consolidation zone and both the EMAs have been taken out as the previous candlestick has closed above on the H4, enticing a strong bullish move. The 61.8 fibonacci retracement has been...
Hey guys,
in front of you you can see two charts, and that's because i wanted to give you a better perspective on how i look at the markets. As you can see on the left (daily timeframe) price has recently broken and closed above multiple resistance levels, which is an indication of a long bias. Therefore our mindset is now on "buy opportunities" and we can take a...
from price action recent big move to the downside it has pulled back into structure. in doing so has formed a bearish gartley formation.
I am already live holding 2 positions. Entry was at 1.30156
stopps at 1.30347
1st Target 1.29862
2nd Target 1.29658
Hi guys,
as you can see in this chart price has already broken and closed above the last structure level looking left. What does it tell us? It tells that the trend is confirmed bullish and therefore we're going to look for trading opportunities only in that side.
As always, we don't want to chase price action, instead we wait for it to come in our comfortable...
Hey guys,
this is my daily outlook on USDJPY. As you can see price has come back to test previous support zone that once is broken should turn into resistance. As of now, price has already showed some rejection signals, but it's not enough.
Watching closely to 1HR and 4HR in order to find shorting opportunities.
Keep you updated.
If you want to share your view,...
Hi guys,
just to let you know why i'm shorting this pair, price has reached a key structure level (blue line) and here it's formed a nice double top with RSI divergence.
Stops above the highs, target1 and 2 as displayed in the chart.
If you want to ask questions or share your view, comment below.
Otherwise, see you in the next chart!
Hi guys,
this is one of the simplest method to read structure, in a downtrend, when a support is broken, it most likely will become resistance once retested. Stops above highs, target1 81,2x level. Target2 to be determined.
Don't know if i'm getting involved since i have two other CAD pairs on my watchlist.
I'll let you know.
If you want to share your view, or...
Hi guys,
here on AUDNZD price has recently created new structure low. Besides, there's no structure looking left until 1,0750. That's why i want to get involved in this trend continuation trade.
As you can see, price is now coming back to retest previous support, which once broken could become resistance, and it's having some troubles getting beyond...
