Philly1

Philly1

As you can see from the chart that we are approaching key levels and trendlines. 80.3 is where we could potential see a rebound from this level as it has previously provide a solid support turn resistance over the last few months. Will be watching this pair closely.

Philly1

Overall daily bullish bias. Potential aussie strength to come? opening the doors for a long position. Break of the immediate resistance and trendline could warrant a long. Flat for now until a clear opportunity to enter presents itself.

Philly1

Potential doors opening for an Aussie Dollar long position. Very bullish day breaking out the immediate trendline however we could retest a previous trendline as drawn and fall back to the downside. Remaining flat for now.

Philly1 Updated 

Seems as if things are getting very interesting with this pair. First of all we have broke out of the weekly descending trendline. Scaling down to the daily we can see that 1.106 support level has held as we have produced a tweezer bottom which has now closed above the 200 EMA. This sets us up for a potential long. Will re analyse how the markets open up and...

Philly1

Overall bias is bearish on oil. From the weekly chart i have established a bearish descending wedge. would like to see how we react from this area. Do we break through this inner trendline and go higher or do we come back down and create another lower low. Personally i do think the 27 area will hold and act as a solid support. The RSI is currently portraying divergence.

Philly1

Weekly bearish descending wedge Would like to see how we react from here. Will we break above this inner trend line and go higher or do we create a lower low. I do think the 27 area of support will hold. The RSI is currently showing divergence after being oversold.

Philly1

GBPAUD Daily Perspective. From my previous analysis i initially conducted an ABCD from the last swing to the downside which played out well but did not quite reach -0.27 fibonacci. We have retraced back into this descending channel. The highlighted yellow box is 61.8 Fib on a inverted fibonacci. The weekly candle has ended very bullish almost creating a bearish...

Philly1

Awaiting some confirmation such as the breakout of the highlighted structure/range on the 4HR.

Philly1

NZDUSD Daily Perspective - October highs - Weekly tl - 200 ema - Ascending channel - Potential ABCD - Strong bullish weekly candle Would like to see how we react at this level.

Philly1

Daily perspective for EURUSD. - ABCD - 4 week range - Descending channel - Bearish overall bias Directional bias dictated on which way we breakout from this range.

Philly1

Strong bullish momentum since we rebounded of October's daily demand we have been rallying up towards 1094 res area targeting the descending trendline. Break of this would warrant long positions to highlight upside targets. - Break of descending trendline with a retest would warrant positions to targets such as the green zone, 1240 weekly res and April highs -...

Philly1

Here we have a nice simple setup on EUR/JPY. This pair has been quite messy over the last couple of weeks or so but it looks like the pair has picked up some momentum and finally found a direction. The bias for this pair is now to the upside for several reasons. Price created a morning star formation at key support/50% fib level, and it has now also broken out...

Philly1

There hasn't been much movement in the market with it being summer etc. but with momentum starting to pick up again within the market, we have an outlook/potential setup on GBP/USD. Sterling is currently within an ascending channel, but has been in consolidation between the 61.8% fib level and the daily/4H resistance level at around 1.57 (blue highlighted area)...

Philly1

Here we have the euro against the sterling. As you can see from the monthly timeframes we are trading below the 200 EMA which portrays we are overall bearish on this pair. However we have acknowledge a formation emerging on the daily TF in confluence with the recent failure of the new lower low and a break of the recent trend lines, could we see the euro gain...

Philly1

The daily chart shows recent higher highs and higher lows, how ever the new higher high failed to reach January and March peaks thus creating a bearish engulfing formation. However we do need confirmation of a reversal in order for our short bias to come in play. If we zoom into the lower time frame (1HR) we can see a wedge/pennant forming. Price has currently...

Philly1

As you can see we have been creating higher highs and higher lows since April 2015 which makes me assume we have a higher low in play, however price action is bearish with a break of the previous TL portraying weakness. If price action continues to be bearish without any signs of a reversal within the highlighted zones we can potentially see shorts to the areas of...

Philly1

Two way scenario on a possible triangle formation, would await breakout and retest with PA for confirmation before entering