After profit taking we now find ourselves with a great setup to re-enter the market with new positions.
EURGBP is on a downtrend. After the retracement back into the 0.618 Fib level, price broke again through a major weekly support level. Expecting price to at least hit the previous low, but we could also see a continuation into the 1.272 extension.
*IF YOU"RE LOOKING FOR THE CORRECT RULES ON HOW TO TRADE THE CYPHER PATTERN PLEASE READ THIS ENTIRE POST. ..It's been a busy week on the Euro, with the next big potential setup being a bullish bat pattern completion if the market pushes down to the 1.0527s area. I put on initial targets so that you guys have an idea of where to look for but remember that targets...
EURAUD is oversold on the hourly chart after a very strong downtrend. Expecting price to retest the previous resistance level before continuing further to the downside. Stops above 1.4 price level which was another major support turned resistance level.
IM ALREADY SHORT IN THIS PAIR BUT IF PRICE RETRACES AND TAKES ME OUT OF THE TRADE THEN THE NEXT LEVEL I'D LOOK TO SELL IS AT MY CLUSTER ZONE/SELL ZONE. IVE GOT LOADS OF CONFLUENCES AT THIS LEVEL WHICH ARE THE 0.5 AND 61.8 FIB, SUPPORT TURNED RESISTANCE STRUCTURE LEVEL, MAJOR TRENDLINE, DYNAMIC RESISTANCE (50 MA) AND A NICE PSYCHOLOGICAL ROUND NUMBER (1.03000)....
Now that we caught the Move up lets wait for the retrace and Go again in this trending market Regardless of whether we start building a flat or we are wave 2 of 5th intermediate wave there is a nice Med prob trade I would put a 30% trade stake as we can fly through for a 886 retrace Kill zone will be the 127 extenstion of A and the 384-50 retrace of the W1-5...
We have had a massive bull trend on the Cad and finally a decent retrace to relieve the pressure HTF we are still in Wave 4 and looking to exit higher Our entry is 4th wave of the sub wave in an obvious impulsive move Wave 4 sitting on a long term support resistance (green line) Going with the trend wait for a nice entry as we should be hit T1 1.2660 and...
This pair has just put in New Structure Highs (NSH) on the higher time frames which immediately has be thinking bullish, bullish. bullish until we hit our next resistance level or until some crazy Aussie news comes out and ruins my analysis. For you guys that consistently follow some of the Aussie crosses, you know exactly what I'm talking about. Fortunately it...
PRICE AT AN IMPORTANT KEY LEVEL AND JUST BOUNCED OFF THE RESISTANCE TURNED SUPPORT FORMING A DOUBLE BOTTOM. ALSO THIS KEY LEVEL IS IN CONFLUENCE WITH THE 0.5 FIB LEVEL. GBP AVERAGE HOURLY EARNINGS IS EXPECTED TO COME OUT BETTER AT 2.2% AND THE REASON WHY THIS IS IMPORTANT IS BECAUSE THE BOE (BANK OF ENGLAND) SAID THEY'LL BE MONITORING HOURLY EARNINGS DATA. IF...
Before checking out what's in store for us on the fundamental side of things I would have called this a no-brainer trading opportunity. On the daily chart we have recently put in a LLLC and presently we're retracing back into the previous 2 days highs. Not to mention we've had the completion of a bearish Cypher pattern at 1.3828 which I'd be looking to use as an...
Drawing different trend lines for oil allows us to get some support and resistance levels for the intermediate term. For my full analysis including more charts check out www.enhancingcapital.com
Bear Gartley, Sorry for the lack of explanation earlier, but we found this while in the middle of my live trading room session. Essentially this is a bearish Gartley (which may have double topped by now) coming into previous structure. So for those looking to catch a move short.
GBPAUD has been a pair that we've been tracking for about a month now. For the past w\few weeks we've been waiting for the ascending triangle breakout and now that it's occurred the next chance to get long would be a retest of structure. As the market has wiggled it's way down, we've set up a potential bullish Gartley pattern that can be used to take advantage...
Gold is looking to test there downward trendline and also looking to test the support just related to the trendline.If they could be able to break it then we will see more downward till the nearest support at 186 and if couldn't able to break it then we can go for a buy and will test the upper trendline.We can see two trendline in the upper side and then there are...
Good opportunity to get in long on this pullback as the resistance turned support lines up with the trendline. Wednesday is an important day for GBP because the average hourly earnings data will be coming out and the BOE said they.ll be concentrating on this data and this will determine weather or not they are gonna hike rates within 12 months. Labour data has...
I've got to run soon so I'm not sure if I'll be able to catch this or not. But for those looking for the next place to short Kiwi this area looks as good as any. Harmonic move, fib extension, multiple fib retracements and of course structure to hide stops above. If it's still a potential trade by the time I return I'll keep you guys updated on what 'd be looking...
There is a good chance we see AUDUSD to continue its donward-trend. It has now possibly reached a counter-trend-top in its most recent reaction-move. The outlined short-Trade has a favorable RR of 3:1.
This continuation play is somewhat related (call it the prelude) to the trade idea linked under "Related Ideas". After the strong US jobs report on Friday, this pair became instantly bullish and gained 185 pips. We now have a bullish rectangle developing on the hourly, which could serve as an entry pattern for a continuation of the trend. Inside the rectangle...