My thoughts on two alternate ideas:
IDEA 1 - If it breaks the support zone and the trendline it would go lower to the next zone which is either at the 38.2% or around the 61.8% on fibs (that's more long term those levels as I did the fibs a bit wider, however even if I did a smaller fibs the zones I drew out will still be around key levels).
IDEA 2. If it...
Looks to me that the GBPJPY will struggle around the resistance heavily as it has tested it multiple times already and hasn't broken through in the past. Who knows though maybe it will, you can never know? However more likely a sell looks more like a viable option, dropping heavily all the way to the 61.8% on the Fibonnaci which is a key support zone also. On the...
Over the past few years, playing the rage in the Swiss Franc has been a massive money maker, the range being super wide, just wait for the extremes of the range and play it back to the other side.
Fundamentally, The Swiss National Bank, SNB, communicate that they dont want the currency being too strong, (which is the lows on the USDCHF ...
FX_IDC:XAUUSD Ready to get correction from top between 1340 - 1355
Should be good point to open short positions at this levels and get TP at
Trik to use that movement at platform who doesn't use partial exit is
Open 4-5 positions same Volume, Same price with different Take profit points
EURJPY pair has failed to break through the major resistance at around 134.50 and what it seems to be turned back down.
At about 133.22 we are expecting correction up to 0.5 fibo and another drop down to 131.70 area as a target.
Alternatively, if 133.22 support holds, EURJPY will be retesting resistance 134.50
The head and shoulders pattern that could possibly form from just a technical standpoint. I am by no means an expert on trading, I am still learning. I'm just practicing ideas and documenting them to further my understanding on chart analysis and techniques in the forex market. My goal is to find patterns to train my mind and my eyes in what to look for...
GBPNZD is trading in a range now. Chart spiked up for the last hours.
If this little move up continues and comes near the 1.8300 level, we want to see a nice healthy rejection and a possible trendline created so we can short it through the lows or through the trendline break
I will keep this chart updated.
Looking to trade coffee long with stops under previous cycle low for conservative risk. Target upper TL , allow for fluctuations of price with an accommodative stop management in order to achieve the desired target.
The Dollar has appreciated as the FED have announced a rate hike as early as March is on the table. Commodity prices have struggled in this environment and hurt the Aussie dollar. I see this pair making a new low as more bears enter the market. This technical set see's a strong downtrend with a pullback failing to close over the 0.61% fib level and downward...
Because it's still contained inside a bullish channel (red), we are expecting for the price to go up. It might target the 1270 area, which is the 100% equivalent of the previous uptrend. If in the event it will break outside the parallel line, the price may automatically go down.
Happy trading everyone!
Previously, we anticipated this pair as bullish towards 0.7550 area. Price did hit the 0.7600+. The current movement suggests that AUDUSD is correcting and may or may not revisit 0.7450 before bulls reign once again.
Happy trading everyone!