The_Munch

The_Munch

Hey, The Day chart is bearish which indicates all the major players are keeping this pair low. Drawn is a day level (green line) that is a significant level that has also been recently respected on the 1 hour chart with lots of wicks/shadows reacting to this level. Currently on the 1 hour chart we have a small bodied bullish candle with a nice wick also rejecting...

The_Munch

Hey, 1) Consolidation has formed and pressure is mounting. Support line drawn and trend line drawn showing a descending triangle. = Bearish 2) Rectangle highlights the consolidation pattern 3) All patterns have broken to the short side 4) Volume is increasing confirming this move will continue 5) Break occurred but with a long lower shadow, there has been a...

The_Munch

Hey ,a strong bearish pennant has formed on this pair. This is a strong continuation pattern and if confirmed it will break the lower line and continue with the overall downtrend. It is a must that the lower break confirms (retraces and tests the break area) and is ideally followed ideally by a bearish momentum candle ,like an engulfing. Just remember that these...

The_Munch

okay i like the look of this one. Momentum breakout candlestick of the 50 EMA (slight shadow below but its ok). We have a retest of the 50 EMA confirming it is a resistance and now a rejection with the momentum bearish candlestick. Also, the MACD has crossed, up to the player if they want to wait for a zero line cross... take profit 2 X ATR and stop loss above...

The_Munch

Price is below the 50 and 20 EMA with both of those lines expanding from each other indicating a strong bearish bias. Price has retested the 20 EMA and rejected it strongly. At 8:30 Australian eastern std time there was a bearish engulfing candle and confirmed a strong bearish bias. Price has been stubborn with the VWAP line as price keeps breaking it. Price...

The_Munch

Hey, This is a good looking Ascending triangle with a very strong momentum candle break out. Price has retraced near the break out zone and we are seeing some long wicks below candles indicate bullish intent. This looks like a good long opportunity, id be aiming for 2 X ATR take profit and 1-1.5 ATR stop loss. I suggest waiting for price to approach the break out...

The_Munch

The price on this pair is rounding = Bullish I have drawn in a semi circle to highlight how the price is rounding upward and drawn a trend line to highlight the point that price initially dropped. The ideal entry will be to wait for a break of this trend line followed by a retest and rejection of this zone turning it into a new support. Ill be looking to take a 2...

The_Munch

This is an interesting development. There are 2 patterns forming; 1) Ascending triangle with downside break out 2) A minor channel in the same zone with a break out (same break out as the ascending triangle Im going to wait for a retracement to the lower purple line which represents the support of both the previously mentioned patterns. If there is a retest and...

The_Munch

Hey, 1) Ascending triangle = Bullish 2) Break out of triangle resistance = bullish 3) A retest of the break out area followed by a rejection = bullish 4) MACD well above zero line = bullish Bullish long entry. Stop Loss 1 ATR Take profit 1.5 X ATR

The_Munch

1) Head and shoulders formed 2) Trendline break out 3) Macd about to cross the zero line Short

The_Munch

1) Nice trend line break out 2) Break of previous low 3) Candles with wicks rejecting previous low/level 4) MACD below zero line and histogram showing plenty of bearish signals Stop loss and take profit displayed. Stop 4 pips take profit at 6 pip 1:1.5

The_Munch

1) Break of previous respected resistance level = Bullish 2) Break of descending triangle = Bullish 3) MACD zero line crossover = Bullish Stop loss 1 ATR take profit 1.5 X ATR

The_Munch

1) Descending triangle = Bearish 2) Break out of the resistance line of triangle = Bearish 3) MACD approaching zero line, expect a bearish crossover shortly and the algo traders to start shorting from here = bearish Stop loss 1 ATR take profit 2 ATR

The_Munch

1) Price is rounding up; Noted with the red semi circle = bullish 2) break of the resistance line with a large momentum candle = bullish 3) MACD line has crossed the zero line = bullish = bullish Im going 1.5 ATR take profit and 1 ATR stop loss

The_Munch

1) Rectangle pattern present with price respecting the boundaries. 2) price recently broke out and has since retested and rejected the upper boundary 3) Macd has crossed the zero line, very bullish signal.. Algo traders and automation will be buying long 1 ATR stop loss X 1.5 Take profit

The_Munch

This is by no means a picture perfect pattern but im going to jump in. 1) Falling triangle right on a good support/resistance level 2) break out of triangle near support line (momentum candle) 3) Retest and rejection of support 4) MACD showing a lot of bullish intent on histogram and the MACD line is about to cross the zero line which requires significant...

The_Munch

1) Falling triangle indicating bearish bias 2) Histogram on MACD indicates bearish bias 3) However: Approaching a strong support/resistance level, will take force to break and confirm bearish bias. Although this may be a strategic change in direction, there may still be a few pips in it ignoring this level. Note: ignore the previous break of triangle as this was...

The_Munch

1) Strategic trend is bullish 2) Short term downtrend, note the trend line slopping negatively 3) Price has broken recent support/resistance and the trend line (bullish) 4) MACD has been showing positive momentum and is about to cross over Result: Long