With a 18 pip SL and a reward 6x greater than the risk this is an attractive trade. 0.92356 is the level we want to see support as this is a key fib level for going on higher. Risk is minimised so looking for a rejection on this level to go long
NZDJPY has been stuck in this sidewards range now. We printed a double bottom and a more rare triple top however price is now approaching the top for the 4th time with the JXY currency index retreated to the bottom trend line of its up trend but no break down. I am looking to see if we break to the upside which is prefered but if we reject i will sell this for a...
Price is in an ascending channel, as it is near the bottom trend line we should anticipate buyers to move in. Any break out of this channel could lead to a fall to the higher 1800 level
End of wave 5 only means 1 thing! ABC correction. looking to play wave B to C down to 0.92000 level which is a good .50% fib retrace mark
We posted the original reversal of this with the inverted H+S. Price has currently pulled back to test the neckline. Good RR ratio for buys here. If we create support here we have confirmed more up but if not we could fall deeper
Looking at AU we have had a great breakout of the channel. DXY seems to be trying to create some support how valid this is we will find out. Looking t test the 50% retrace mark which is also a created supply zone which can be found on the two small buy candles before a large sel off. Wait for rejection off fib and ride it down
We can see AC failed to hold above previous resistance, break of trend line and the end of a wave 5. We now look to enter ABC correction 0.93250 is a good RR short entry and look to see AUDCAD retrace to 0.89129 level.
CHFJPY exploded upwards after BOJ decided not to tweak or have any surprises in their policy which the market was expecting allowing JPY strength to releve for a bit. Never the less we are uo at the top channe trend line which makes for good RISK/REWARD sells
Reversal pattern in play as the dxy shows some great strength today. On top of that AUD pulls back finally from its bullish breakout after china opened its exports mainly coal to its country which is its largest exporter
looking like a reversal pattern has set up as we see DXY bounce hard and show some real strength. Fib targets on the screen show my targets
Simple broken out the trend looking to push up on CAD weakness and the EURO at an all time strong compared to the dollar driving EU strength
AUDNZD has been in this nice tradeable up channel. Set up is simple overhead resistance is 150 pips higher. We have touch the lower trend line of the up channel so risk to reward ratio for entering a buy here is great. Good luck. invalid if we break out of the channel to the downside in which you could get a nice sell. Preference is to buy, the trend is your friend!
Simple setups are the best. Price has double bottomed. Nice push off the support area. good risk/reward ratio here for a short term buy this week
USOIL currently breaking out its falling wedge. Waiting for a nice re-test to confirm this before taking a long on a smaller TF Target is up @ $90/$92.
SPX500 has been in this long down trend. Price is currently trading right at the main trend and looks threatening with a lot of bullish candles building up. 4000 is the mental price and i am watching for a break or rejection before taking any trades. Sure to say Monday will be interesting
Possibly a quick 175 pips to be made. Looking like a 4HR double bottom. Yes im bullish on JPY but looking at the JXY index it has reached the top trend line of the rising channel suggesting a slight pullback before going higher. We see a nice rejection candle on the double bottom and would aim for a 50% retrace before potentially dropping but take it as the chart tells us
Looking at the AXY it has broken out its long term downtrrend and this allows for the AUD to gain some good strength. Looking at AUDCHF, we are currently in a up channel since we broke out of the main downtrend turning us bullish. AUDCHF i will be buying upto 0.67300 where price may struggle with heavy sellers waiting in this zone. Best entry is buying off the...
Gold we have seen a fantastic rally and wont stop here.The dollar slipping and gold rises can be expected to continue. current price of 1920 zone we could see minor resistance as this was once a support zone so bears may test to turn resistance here but only a correction no major move. The next fib target is 1972 this is also the daily time frames true range...