AaronLeggett

AaronLeggett

Some quick analysis here on the USDJPY pair. The Fibonacci levels coincide well with the S/R levels between the 24th and the 28th. We also have a nice bullish trend following the aftermath of Black Friday and Monday. However, I can see an opportunity to capture a few pips short due to the lower highs being created. Aiming for the 0.5 Fib level (118.884) seems to...

AaronLeggett

We have a nice setup here for a long position to the 155.75 level. With an ascending channel and supporting confluence from the 200SMA and the 0.236 Fib levels, this move up should pan out well. I expect some liquidity and resistance at the 153.80 point as it appears to be a strong S/R level. Further resistance will be met at the July high of 155. As anything it...

AaronLeggett

In the longer term time frames we can see an ascending triangle formation and a descending channel, both of which signify a bullish market. However, on the 30 minute time-frame, my analysis is suggesting that there is a potential short opportunity to capture some pips. Even before the Fibonacci levels became valid (through plotting the low point at 1.08921),...

AaronLeggett

We've got a great descending wedge forming on the USDJPY pair. Now, according to the rulebook, the descending wedge is a reversal pattern formation and the pair will break upwards; therefore, set your buy orders at 121.440 (good amounts of support) and your take profits at the resistance line at 122.000. Honestly, it's a big triangle so we could quite easily see...

AaronLeggett

Okay so I analyzed this chart a few weeks ago and unfortunately for me the super-strong trendline broke and the price didn't go in the direction I expected it too - however, in the longer term, my analysis was correct in a sense that the trendline was strong and soon enough the price rejection of that trendline corrected itself and has now rapidly hurled itself...

AaronLeggett

Nice simple analysis here - I'd advise getting on it quick as NZDUSD will melt downwards! We've got a nice fibonacci retracement drawn from previous highs and the current lows. The overall market sentiment looked like it was producing a bearish flag but the fundamental data reversed the trend which saw the price spike up to the 0.382 fib level. However, the price...

AaronLeggett

Okay so we've got a triangle which has formed on the 4H chart on this pair. It looks more like an ascending wedge as the angle of the bullish line is far steeper than the bearish. Therefore, we can assume that this will breakdown towards an area of previous support at around 1.11200. The pair is in a long-term downtrend so we can also assume that the current...

AaronLeggett

Okay so on the chart I have noticed that the channel was finally broken the other day - only for the breakout to be rejected with a huge comedown back into the channel. By applying a Fibonacci retracement to this new high we can identify future S/R levels. Now we're currently at the 0.5 Fib level (1.966) and there was a slight breakout from the channel but this...

AaronLeggett

Okay so I had a long bias on this pair a few days ago - however, after analysing the GBP/JPY Pair it became evident that the bias should change to a short term one as the downside potential was stronger on that pair than the upside potential on this pair. These two pairs correlate well with each other and the channel for this has broke - therefore we can assume...

AaronLeggett

Okay so the chart you can see has a fairly steep channel and that's probably what you've noticed first. However, let's look at the wider picture. The downtrend has been in place since the 5th December 2014. On the 28th of December we saw the trend take shape as the lower-high formed a trend line with the 5th Dec. price. On the 2nd of Jan we saw the price come...

AaronLeggett

Some good support and resistance technical levels with an ascending channel formed with three highers highs and three higher lows. The triangle which started formation in January recently broke out but met resistance at the current ascending channel. Therefore, we should see a bullish bounce either at the next support level or at the triangle cradle; where there...

AaronLeggett

Self-explanatory price action here, we should briefly see EURUSD fall to around 1.12 (1.2271 on the 0.236 fib). Lots and lots of resistance at the 0.5 fib level thus indicating a fall in price.

AaronLeggett

Long term idea from analysis here - could take a while to complete. Or not - we all know how ridiculous oil is! Anyway, as you can see, there is a very, very strong long-term support trendline forming way back from 1999. It's apparent that oil rose in the late 2000s due to a booming economy and increased demand and subsequently a dramatic drop due to global...

AaronLeggett

Excuse the messy analysis - I'm getting used to trading view. The two thickest lines form an ascending wedge, which, as we know, will cause a bullish breakout. However, there is also the potential for a short opportunity if it falls the to the 9680 level. LONG: Analysis for the long move is simple, the future price movement will continue to bounce off the...

AaronLeggett

Fibonacci levels drawn with the trend line confirming thanks to the support at 9775, support/resistance then found again at the trend line in a short equilibrium. Trend line has been broken down short to once again find an equilibrium but just below the 0.618 line. To much resistance found there so short until 9746. Very quick 5 minute analysis UPDATE:...