About meCharts/Ideas/Descriptions posted are my own and are in no way financial or trading advice. I accept no liability for any losses you may incur as a result of you relying on anything I post to be accurate.
Saw this on Instagram and had to come on TradingView to analyse
clean double top at R3 followed by a nice descending channel down, the slow trending move down tells me bears are in control of this market.
on lower time frame we have seen price action indicative of a further breakdown of price around r1
i have entered short at 72.87.. support around 72.4 is my...
Noticed the trend line as UJ failed to make a real top during the london session.
Took a short at 102.4 with a stop way too tight at 102.5 and got stopped.
Currently short now off the retest and hammer at a key level following a break of market structure
Trend is your friend, until it breaks I will be happy to sell the retest of support levels as they break and become resistance,
as you can see the blue line highlights the overall trend and you can see the number of short opportunities on retests of broken S/R lines
Currently bullish on this pair as it continues its downtrend.
Short term i expect AJ to remain bid up to R1 and maybe past that to the channel resistance
watching USDJPY for yen strength i expect AJ to break out of its channel to the upside soon but with the BOJ you can never tell. With their feeble attempts at weakening their currency so far, we may see more...
WTI / Crude / CL / USOIL
Whatever you want to call it I see a bread and butter H&S pattern playing out
Wouldn't be surprised if we see another test of S1 to shake weak longs out but the support held well
Right shoulder pull back currently bounced off the 50% retracement level which is another confluence i look for
Strong inverse dollar correlation could mean...
As you can see from my linked ideas a lot of parity and confluence with EURUSD
Both in a wide but well defined range
both broken medium term trendline
both retested a key support/resistance level identified by a breaker candle and then come off.
Long put to R targets on the dollar and looking for dollar longs across the majors
USDCAD has been in a bullish trend for months which broke in January.
We now see a bullish trend which has formed since May
Bullish on this pair up to the previous trend support point that confluences with R2
At this point roughly 1.398 i expect a break confirming the bullish trend continuing OR further sharp selling retesting the S2 and possibly S3 level
Even with BOE policy changes and basis point cut we still see the defined range hold convincingly,
previous H&S failed to provide a bearish break so i expect the rising channel to continue until one side takes real control of this market.
if the channel breaks there is a lot of liquidity around 0.8 which will be my target.
Alternatively if we see price break...
Personally short bias to fade the NFP rally
even with another good NFP month the bulls couldn't take control of price and were capped at the strong resistance confluenced with the 61.8%
A pullback at this level is my idea scenario
if bulls can pull the market through the 61.8% i'll be looking to buy a retest of the 61.8%
3 targets in mind for a very long term view
Short term thinking: Good buy opportunity with NFP tomorrow, weak dollar data could send us on a recovery path back into T1. More reasoned thinking below. Worth noting the break of rising trend line could see bears entering the market again and attempting to break through support.
However i am confident that the...
expecting a correction of this sharp rally down to the 50% fib at least
Confluences: low volume resistance turned support level price finally broke through could act as magnet
current channel rejection off resistance
doji/hammer rejection on daily into a heavy daily sell off indicative of bears entering the market