Watching price at Daily zone of Resistance right now.
Two scenarios I see happening here (or a 3rd one and price goes all the way up!).
1. A clear sell signal could occur here which could trigger my short position (Shooting star for example).
2. Price pulls back to the H4 Fibonacci 50.00%/61.80% which is in alignment with my Daily Fibonacci 50.00%.
- When this...
- Monthly M.A. up
- Weekly M.A. up
- Daily M.A. down
H4 : Looking for a break and retest of the C.T.L. Expecting price to fall down to Monthly level of support at 1.1450.
Invalid if price breaks above 1.1693.
- Monthly M.A. up
- Weekly M.A. currently indecisive. Moving closer together down.
- Daily M.A. down
We have seen price reject the Monthly resistance 0.9000 which is in alignment with our 50% FIB level.
Price has been making lower highs with a recent lower low at 0.8735 which has taken out our last lower low at 0.8745.
Expecting price to drop to 0.8700.
H4 :...
- Monthly M.A. down
- Weekly M.A. down - Wicks spiking through 8 EMA
- Daily M.A. down, strong Daily close below 0.8775 preferred.
H4 : Price broke through our C.T.L. but is not able to go through 0.8775 yet. Would like to see a strong bearish close (daily preferred) below.
- Monthly M.A. down
- Weekly M.A. down but moving closer together
- Daily M.A. up
Wait for price to bounce from one of the Ascending Trend lines. 61.8% FIB zone preferred.
This play comes in alignment with the Dollar Index.
Only enter this trade from a break of the C.T.L and retest of one of the FIB levels or C.T.L.
*This trade will be invalid if price falls...
Possible short opportunity on USDJPY since I still see some bearish movements in DXY.
- Wait for break of Counter Trend line
- 4H candle close below the highlighted box
( if this doesn't happen and price keeps ranging draw another Counter Trend line and wait for the 4H candle to close below the box )
The trade is taken from a monthly key level and our 61.8% FIB...
My GBP/JPY Analysis for the week ahead.
Will we break the descending trend line and close above our 78.6% FIB our will PA respect our favourite regions and go for
another retest of our Weekly Support 147.50.
Last two weeks we have had a nice bullish run up to 94.00.
There are a few options that are on my mind.
- We either break 94.00 and have 96.00 as our next target.
- We have a nice Daily close below 94.00 and aim for 93.00 as our first target.
- 93.00 Will also be a critical level to see if price will break it our bounce back to 94.00 > Probability of breaking...
Technicals are bullish to me;
Extra confluences to take in consideration:
Moving Averages on the monthly, weekly, daily, 4H and 2H timeframe are up.
Only unexpecting fundamentals could change the outcome of this. But for the time ahead with what I know fundamentals will most likely give us bullish price action.
Like this EURBTC analysis? Let me know and I will...
My idea for EUR/USD.
Possible buy opportunity from the daily retracement to the 0.618 FIB level around 1.06500s.
As you can see on the chart a LWH has formed.
Now waiting for a MA crossover for a possible entry.
@hintrading
Bullish Gartley Pattern found on NZD/CAD pair. Great buy opportunity. Decide entry on lower Timeframes or enter aggressively.
Keep in mind that I am not a professional, yet. Correct me if I am wrong about this pattern, or share your input if you want.
