Whilst the USD has gained some ground back from it's 12 month decline AUD is still bullish.
After retracing it has finally broken the resistance level.
If we can retest this level I will look for a trend continuation trade to the next highs. Simple trade idea backed up with AUD strength across the board.
What do you think? Can AUD continue it's bullish push?
Expecting this pair to create a double top, then give me an entry Reason to sell. (Engulfing candle, indecision, shooting star, morning star, harami).
This trade is highly probable considering the last low created, and the new high in progress.
Having broken free of the effective pullback we are now looking to continue the negative trend towards a bearish move overall. Stop marks may be previous structure looking left, where there may be some buying pressure, and going past that for extended targets really is deep lows.
A quick update on Gold and the fourth wave is still in progress. As mentioned in the linked idea, I'm expecting the corrective sequence to continue into December and print a new quarterly low with the Horizontal support level at 1800-1765 providing some confluence.
I will be looking to take swing positions once this low is in as we are likely to get...
Pattern is not confirmed yet so be patient and just keep an eye on this we will find a juicy move after confirmation of the breakout.
I would still look for a nice price action pattern which can show real weakness to enter in the market.
Today I am looking at NZDUSD on the 1HR TF as we have recently seen prices rally but we are beginning to see buying pressure lose momentum as price action moves within a ascending channel and respecting .610's even handle (Structure resistance). I believe we may see prices decline into the highlighted areas of structure following this slow down in...
EurUsd 60 put an impulsive move to the downisde breaking through support and now we are in the clear to go to lower levels of support just below. The blue zones underneath are potential extended targets you can take based on your approach. We are currently putting in some nice small rejection candles on the 60 into our previous support now resistance levels so we...
GBPUSD continuation, price has finally broken out of lowest zone , possible recovery of the pound according to technical. 1.27246 RES to be broken immediately or retrace at 1.25731 for break & trend continuation.
USDJPY - shorts or longs on 15min take your pick
I'm more inclined to go short due to higher TF's still being bearish, but with US trade talks looking positive and JPY seeming to weaken last week it could turn the tables
Any questions drop me a message or a comment im happy to help
prediction , breakout on major resistance , minor res broken, price retracing as it is the end of the week , amazing that price literally stopped at that resistance right there, otherwise good momentum even on higher time frames
opinions and engagement welcome as always
price is going back into the lowest zone of my key zones , so that is also part of my...
AudCad has been in a downtrend, on the higher time frames we are en route to retest the lows. On the 60 we have genuine room to go lower to these lows with only inside support being in the way. Strong impulse initially aswell.
AudChf bearish bias and trend after a breakout from the consolidation can see it going lower. Coming off a nice level of resistance minor some room down. I would look for a retest first then a potential extension to the green lines drawn in