On the daily/weekly timeframe NZDUSD is clearly in an impulsive run to the downside. However on the 4h price had started to trickle down more correctively beneath a previous key low before shooting back above this key area and forming a bull flag on the hourly to indicate further continuation to the upside. Structurally it is clear that NZDUSD is in need of a...
Price broke just above the triple top area within an ascending structure, potentially to catch the masses on the wrong side of the market before a drop to previous lows. Entered a short after a bearish engulfing close on the hourly with my stop just above the previous high. Stop will first be moved to breakeven once a continuation flag to the downside is formed,...
Short term long - clean 123 touch within ascending structure with an entry made after a bullish engulfing candle close, targeting the high for a potential double top and huge selling opportunities. Risking around 1% on this position with a profit target of around 12%, stop will be trailed accordingly to lock in profits if begins to retrace.
Potential huge short to 1782 from here, currently looking at what could be the end of a corrective ascending channel from previous highs before a continuation downwards to create lower lows. If price breaks above 1835 this idea will be invalidated.
USDCAD is currently in a corrective ascending channel following the previous impulse down from the double top on the daily timeframe. We are now within what appears to be a rising wedge pattern, I expect this pattern to continue and push price up to the previous highs of the ascending channel before looking for potential long-term sells in this area.
AUDJPY is currently in a descending channel on the 4 hour timeframe. We had a fakeout to the upside before a closing pinbar beneath resistance which suggests price will continue to head south and back towards previous demand zones. However, price could also just be heading lower for a correction before taking another shot at breaking the descending channel, yet...
Overnight AUDJPY had strong bullish momentum which drove price upwards, however we could now be looking at a solid correction downwards before either a continuation upwards or, price will fall to create new lows beneath the demand zone. We had a small consolidation on the 15 minute timeframe and judging on the PA it is highly likely that price will be heading lower.
Entered on bearish engulfing candle close on the hourly timeframe, RSI is currently also oversold which indicates there could be more downside to come before continuation upwards. EURNZD is currently in an uptrend, however it is likely we will see price come back down to the upwards trendline on the 4HR TF once we reach the supply zone above, hence why I will not...
Keeping it simple - CADCHF is creating lower highs and lower lows on higher timeframes. We are currently at a level of resistance where price is struggling to push any higher. Further confirmation is that a head and shoulder pattern has been formed on the hourly timeframe which suggests price could now be heading downwards to create lower lows. I will be...
