Price continues to consolidate between 126.60 and 125.80. Trade Scenario 1: Bullish - For us to go long we need to see price break above 126.60 with conviction. We will then wait for a retrace back to this level and for a clear HL to form. Enter on strong bullish engulfing/variations. Trade Scenario 2: Bearish - We need to see price break below our 200MA on...
Price has created an inverted H&S pattern and has broken our neckline. We are looking for price to retrace back to the neckline and the .618 fib level at 103.50. We will then look to enter long on bullish engulfing/variations.
Price has broken out of our falling wedge with strong bullish momentum. Currently the 200ma on the 4h timeframe is acting as resistance. Trade scenario 1: Bearish - We can stay on a lower timeframe and wait for a LH to form around our weekly level at 1.2906. We would want to see a bearish engulfing on the 30min at our weekly level and then look short. Targeting...
We had a strong push to the downside back to our key weekly level to start the week for GU. We are now waiting for a retrace back to at least the .382 fib around 1.334 or we would like to see the 1h 200MA act as resistance which currently sits at the .618 fib level at 1.340. When price reaches those zones wait for bearish engulfing/variations to form and create a...
Price is still ranging and is at the top of our supply zone. Trade Scenario 1: Bearish - We need to see strong bearish pressure, engulfings, variations below 126.60. We can enter on a 1hour engulfing and continue to play the zone or drop down to a lower time frame (30m, 15m) and wait for a clear LH. Trade Scenario 2: Bullish - We need to see price break above...
Price is trending well to the downside. We are waiting for price to retrace to at least the .382 fib level or the key weekly around 103.30. We will then look for bearish engulfing/variations to enter short.
Price is forming a corrective structure after the breakout of the falling wedge. We are looking for a retest of the 78.45 zone to go long. Enter on bullish engulfing/variations.
Price has been pushing to the upside this week for GBP but we are at the top of our ascending channel and price is a little over extended. Trade Scenario 1: Bullish - If we are to look long we need to see a steep pullback to increase our RR. Wait for price to get back to the key monthly and .618 level around 1.352 before looking long. Enter on bullish...
We are looking for price to retrace back to at least the .382 fib level around 1.273 and to continue to respect the 30min 200MA as resistance. Enter on bearish engulfing/variations at these levels
We can see price had respected our resistance trendline and had a strong rejection through the 30min 200MA in yesterdays NY session. Price continued to push to the downside and is now starting to retrace. We are looking for price to return to the .382 level around .8850. We will then look for bearish engulfing/variations to enter short.
Price is retracing back to our key weekly level at 139.50. Wait for strong bullish momentum and a break of our corrective structure to enter long. Target previous highs around 140.20
AUD employment news just came out positive and that is why we are seeing extra volatility. Wait for volatility to ease up and look for a retest around 78.4. Enter on bullish engulfing/variations.
We had a strong bearish engulfing at the .618 fib level during the NY session. We are now looking for another bearish engulfing/variation at the .382 fib level to enter short.
Brexit talks could add some extra volatility for GBP pairs. Trade Scenario 1: Bearish - Price is back at our key monthly level and previous highs. If we want to look short we can enter on engulfings/variations here, first targeting the .382 retrace around 1.346 Trade Scenario 2: Bullish - If we want to look long we need to wait for a retrace back to the .382...
A lot of buyers are starting to step in but we are still making LL. We are waiting for price to get back to the .8850 zone to see how price reacts. If we see bearish enuglfings/variations there look short. If price breaks above with conviction we will then wait for a retrace and a break above the 200MA on the 30min timeframe.
Price has rebounded back to the 30min 200MA which price has respected a few times. We are looking for bearish engulfing/variations here to look short.
Price has been consolidating around our weekly level of 126.23 and the 1hour and 30min 200MA have started to flatline. Trade Scenario 1: Bullish - We are looking for price to find support at our demand zone once again. Enter on bullish engulfing/variations. First targeting our weekly level and 1hour 200MA at 126.23 Trade Scenario 2: Bearish - We need to see...
Brexit talks can cause some extra volatility this week. Be cautious on GBP pairs. Trade Scenario 1: Bearish - We need to see price break below 139.00 and the 1hour 200MA, we will then look for a retest and a clear LH. Enter on bearish engulfing Trade Scenario 2: Bullish - We need to see price break above the weekly level at 139.50, we will then look for a...