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As called in my previous idea, EURUSD completed the inverse H&S and I'm now expecting it to start a new bullish trend due that the previous bearish trend completed the Elliot Waves. Pair is now struggling in a resistance area but the momentum is strong enough to break it.
After completing the Elliot Waves, the pair shifted in momentum and is currently in a downtrend.
We can see an inverse H&S getting formed and we can capitalize in the formation of the right shoulder as shown in the chart.
After breaking the bullish trend, I called a short on this pair, however, the currency pair shot up stopping me out. Currently, the pair has formed a double top and it looks like a bearish trend is being made due the formation of the most recent trendline. If the currency pair moves down, I will target 150 pips where we have our 61.8 fib level,. Will be risking 50 pips.
EURJPY is retesting a really important S/R area which strongly rejected the currency pair in the past (highlighted areas in yellow). Even if it breaks the resistance now, we have a new trend line formed where the price could be rejected to continue with the bearish trend. I support the bearish scenario but I will wait for further confirmations.
Will keep my eye on...
USDCAD just hit the lower trend line. In this area we also have a major support and our 61.8 Fibonacci level. If the currency pair keeps respecting this area, bounces and breaks the trendline that it has created on the retracement, we will probably see a +600 pips bullish move for a long-term run.
After recovering of the recently massive drop on NU, the pair has found resistance in a important S/R area, creating at the same time a brand new trend line, therefore I'll be waiting for further movements of the market for either buying or selling as we have 2 scenarios.
A breakout on the trend line (which is also our resistance) can potentially give us around...
According to news, Apple is not delivering confidence to its shareholders as these are concerned of several areas on the services where Apple is not delivering or improving. On the other hand, the company is not producing as many sales as expected, in fact, after the release of the latest iPhone, the share's price dropped almost 100$/share in just 2 months.