Looking at AUD/NZD just need a Daily/Weekly reversal pattern to form before going short. If a Counter-trend line does form on the 4hr or Daily I will use that to help with more precise entries.
-We had a Weekly Uptrend break. It has been retested the back end of the uptrend previously for a 365 pip drop. It has reached our point of interest once again in which...
I'm looking at EURJPY on the Daily. Here's what I can see...
-The pair has come back to Daily High's of 126.700-126.800, If we see a similar Daily Reversal pattern form on this area such as a Shooting Star or a Bearish Engulfing I will consider taking shorts.
-I have drawn in an Upwards Trendline so price may pullback to a Key Psychological area 126.000 and...
Looking for Shorts on GBPAUD:
-Downtrend
-Daily candle, 4hr Spinning top and then a bearish engulfing.
-Double Top
-70.5 fibonacci retracement.
Initial Targets for me will be 1.8250-1.8110
For a SHORT: Looking for a break and retest on 111.800 and the Uptrend (CTL) before going short. Initial Targets: 111.100-110.900
For Long: Break and Retest on 112.120 and the Downtrend (CTL). Initial Targets: 113.000
Potential head and shoulders pattern to be completed in the longer term also being met with the daily trend line
As always....
PATIENCE - CONFIRMATIONS - ENTRY - PROFIT
CADCHF has approached Daily resistance (0.76200) will be looking for reversal patterns to form, As well as a break and retest on either of the 4HR CTL's or Daily CTL's (Counter-Trend Lines). If price does continue to the upside I will look for reversals patterns to form off of either (0.76800) or the DownTrend.
Looking at the 4hr time frame this pair is at major Supply Area. It has failed to break through 111.950 on multiple occasions. It has come back to test this zone and once again it has failed to break and we can see a nice opportunity to go Short.
Still have my short running from the previous gold trade I posted. However, Gold is starting to make it's way to my final target where we could look to go long. Wait for a reversal pattern to form before doing so.
looking at USD/CAD weekly & daily you can see we've had a previous bull flag pattern which ended in a large push to the downside towards the end of June 2017. We have been seeing another bull flag pattern forming ever since which has now reached around our previous high of may 2017. comparing both structures we look as though we are coming close to another melt...
We have had a break of market structure, we broke key support on the 4 hour time frame and we are now retesting as resistance. We also have the third touch of a key descendent trend line on the 4hr and we are sitting on in and around the 61% fib level which is key. Id like to see a lot more downside to this pair. My aim is the reverse -27 fib level for my final...
Short position based on key support and resistance levels. With room for a risk free trade trailing a stop loss if it breaks the key support at 82.35.EMA also supporting the change in momentum and continuation of a downtrend.
If USDMXN to bounces off of either of the trendline we could be looking at 600-2000 pips on this trade. However, we must wait for confirmations to be met before going in. I need the 2hr Downtrend to be broken + a 4hr/Daily reversal to form before going long.
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