mvfrench64

mvfrench64

Since a big push to the downside, the market has been bullish for a few weeks before showing signs of exhaustion from the bulls. Huge bullish candles following up by even smaller candles followed up by a doji and a shooting star candle. This is a reversal sign. However, the market usually fills in the wick of a shooting star candle most of the time if there are...

mvfrench64

Price currently sitting at a key Fibonacci level of 0.382. Good risk/reward for buy.

mvfrench64

I have marked this chart a long time ago and have ever since not paid attention to the pair. (Since I am not very confident at Elliot Wave analysis, I decided to stay back an monitor.) My prediction of price breaking out of the triangle going upwards actually happened and the price is now sitting at the daily resistance zone waiting to (maybe retrace first) then...

mvfrench64

On H1,H4 and W1, AUDCHF shows a sign of major rejection. The price also broke out of the Ichimoku cloud and has twisted green. After a cloud breakout, it is expected for the price to retrace by 50%. Combined with the two trendlines that are drawn, the green area could prove to be an area where many traders are interested in buying. Therefore, this could be a nice...

mvfrench64

EURGBP shows signs of rejection on the second upper resistance and closed below the first resistance level. The stochastic oscillator is showing a twist, indicating that the price is overbought. This could indicate that the market could become bearish. The significant levels are drawn and lead to suggest that there might be a possible head-and-shoulders pattern....

mvfrench64

EURUSD is currently sitting at the downtrend line and showed some rejection. I am waiting for the stochastic oscillator to do a cross-over from being oversold. However, this does not mean that it will completely be safe to enter a long position yet, as the price might keep going down into the weekly strong support before bouncing up. Monitor the price action on H4...

mvfrench64

Price has bounced up really violently from the strong support zone. Now is currently touching the weekly downtrend line without correction yet. This could mean a high probability of selling opportunity.