Price following downtrend
Price broke an important Mayor Zone. Could be testing before continue going down
MA's confirm downtrend with the cross. Price seems to rebound in 6EMA
SL above last Mayor Zone
TP above next Minor Zone
Trade based on five MA
Price made a retracement on the way down (50 EMA). In that retracement, a nwe high pivot point was made. A wave is created with that high and the prior low pivot point (we will use this as SL as seen later on)
TP just above last low pivot point
SL above value zone (seen with line chart)
Trade based on MA's. With the last candle open, it was a doji, but then changed to a bull candle. 30mins uptrend. Maybe should open the trade.
SL in next resistance (mayor zone)
TP in next support (pivot point)
Lets see what happens. No high impact news for both currencies tomorrow
MA's confirm uptrend
TP1 in past pivot point. Once TP1 is reached, move SL to breakeven
TP2 just below mayor zone
SL below minor zone
No news for tomorrow friday
Sell position opened
Fib made in the last swing
Price retracement made in the Fib 61% with a doji candle. Posible trend reversal.
Objetive is only Fib -27% as we have a mayor zone and price could possibly rebound there.
FX:USDJPY Measure Move Down
Measure move down starting at the top of the trend (first leg). Prior pennant inside movement.
Corrective fase and we enter the trade as soon momentum bring movement downwards again.
Second leg starts after correction fase. Lenght use to be almost 80% of the first one, so we project that measure down from the end of the...
FX:EURCAD showing a Synetric Triangle
Pattern made after a masive bull run. Now we are in downtrend.
Triangle has 4 touches (2 in the upper trendline and 2 in the lower one)
Breakout is made in the 5th touch.
Pattern has falling volume, another caracteristic of pennats
Re-test made after breakout and price stopped at 61.8 Fib. Fib made with the last...
FX:EURAUD Symetric Triangle
Symetric triangle after a high is reached. Change to downtrend.
Triangle has 4 touches
Clear break downwards
Not great RRR but EMA's confirm breakout and downtrend.
SL in the last high
TP2 little bit less than the tipical triangle measure (highest - lowest point). Minus that measure to breakout point
TP1 is 50% movement
FX:USDCAD showing a Complex Head & Shoulders pattern with 2 heads and 2 shoulders.
Two heads appear as pivot points, so resistance there is strong.
On friday price was just above the neckline and today sunday it opened just below so we enter the trade in a sell position
4 x EMA & MA shows clear downtrend
Measure from top of the pattern to the neckline and...