More confirmation to me of a short potential on AUDUSD. Triple/double top (however you see it) gave me my first indicator, proven supply area in the purple box playing out, and formation of H & S pattern on the right has meant I've placed a SELL Limit.
SL placed 2 pips above the last high spike, entry placed at the start of this hourly candle, and TP giving me a...
I am expecting the US Dollar to gain some strength this week, taking out previous highs, potentially retouch the broken trendline. We can see that the -27% Fibonacci lines up with previous highs well with these previous highs and then the next Fibonacci with the back of the trendline. This will give us a good insight into all USD pairs which are looking very good...
Looking for entries for shorts at 134.518
1. Currently sitting in a supply zone
2. Looking for 3rd touch of 0.5 fib level
3. Would then create a triple top
4. Previous break and retest indicating downside
Targeting demand zone about 750 pips down can also set a tight SL here
EURJPY currently uptrending. A weakness in JPY has been observed with XXXJPY pairs rising over recent days.
However, this pair has came to a halt at the resistance zone forming a triple top. We look to sell to meet the upward trendline.
Potential short for 150+ pips once price action confirms bearish reversal.
The DAX is at a make or break position on the weekly. Some will see a double top others will see a triple top. No debates - the point is that these areas carry the least levels of randomness.
Positions can be taken on lower time frames.
Disclaimers: This is not an encouragement or advice to trade in securities. 70 to 90% of retail traders consistently lose...
so after a triple tap of the resistance leve also inline with the 71% fib holding well . looking a move of around 150 pips gpb is getting weaker and weaker .
Daily chat is showing descending channel being made. Going on a lower timeframe, price respected resistance zone 3 times which is a triple top at best. Going on the 15min for entry, I see price also made a rising wedge + 3 minor triple tops as well so this has me believing that price will go...
Good afternoon traders,
Looking at an interesting setup in US dollar versus Canadian dollar with a triple top forming around 1.34 with a third attempt to trade above that level failing and pointing to a pull back lower for the pair. More recently we just had slightly weaker than expected Manufacturing data from Canada which failed to give any real boost to US...
will be taking a risk entry as a flag pattern has formed. Stop loss will be 20 pips making a risk to reward 2.5:1. will be a short term trade. This trade lines up for the third touch of trend line as well as a triple top. So alternatively when target is achieved will be looking for sell set ups. Any alternative views please feel free to share.
Analysis:
- Triple top pattern formed underneath resistance area.
- Price broke through and retested this area before pushing off of the 0.382 fib level
- Price is currently forming a bearish candle. Could be another possible retest of the resistance area. Price may be entering a state of consolidation.
- Wait for a confirmation candle.
I will wait for confirmation to short this pair in my sell zone. If this does go to plan, I may hold for longer as a potential triple top could be
formed. However, having said all of this I will be cautious as NFP is around the corner.
This is a classic situation where fear, uncertainty and doubt all come together. The situation with ULTA is critical on the weekly and exposes opportunities on lower time frames.
I'm looking at a possible triple top on EURAUD on the 3D time frame. I do this because I'm looking for position and then to trail down on a lower time frame.
There is some weakening of the 3D time frame trend and the critical zone at the peak probably creates a greater probability for the south.
Little bit of different setup this time.
I see it as potential double or even triple top with decreasing highers as the sign of potential trend reversal and rally down.
The fact that it is third top is little bit diminishing the risk/rewards ratio, therefore I will adjust and close the trade in the first signs of incorrect judgement.
Also it could very easily...
