Still thinking short on this pair although we've seen a large upswing which is coming up to the 61.8 retracement level which is confluent with the upper resistance channel line. I believe this is the level to enter short with final targets set for 0.917 level. If however the pair breakout of the channel we could see it come back up to the level it fell from...
We've seen a double bottom which could signify the end of the downtrend. If i see a break above the previous low combined with a break of the downtrend resistance then i will be going long with tp set at 0.808
This pair has been in an uptrend and since hitting the 61.8 fib retracement has been going higher. I am now waiting for a breakout retest and continuation of the 0.9221 level to add to my position with overall targets at 1.011. Two confluences for this target are the -27 fib extension and also that it coincides with the trend line (resistance)
Purely Technical. The uptrend of this pair peaked at 1.55 and from then on we have seen lower lows and lower highs. Since breaking out of the uptrend price found some support came back up and rejected the 38.2 retracement level, I now believe that this pair is heading for 1.34 in the near term and this is in confluence with price action as a major support area,...
We could see a breakout of this downtrend line which has been occurring since 2010. If we see a breakout we could see the pair reach back to those previous highs. I will be watching closely for a breakout, retest and continuation pattern so that i could enter long. From thereafter i will just be buying this pair until it reaches my intended targets (shown in the...
SIMPLY: This pair has been an uptrend since mid 2014 it then broke its trendline which invited some people to get short but it retraced of the 50 retracement level. If we see a break of this trendline pointing back from 2012 we could see this pair breakout and enable some good profits to run. If we see a breakout of this downtrend since 2012 i will be waiting for...
As i said before i believe this pair may create a double top of the 38.2 retracement level. If it does we could then see it crash down to my target 0.92. The target has 3 confluences. 1 it being the start of the trend , 2 the 38.2 extension and 3 the length of the double top pattern added onto the bottom. Would not be going long at all unless we start to see...
SHORT SHORT SHORT ! Ever since the breakout of the up trend i have been screaming short. Late last year we saw a breakout of the up trend a retest and continuation. It broke out and retesteed the trendline which was confluent with a 50 fib retracement. It then melted to 0.94 where it has found some support and is retracing. It has already hit the 38.2 retracement...
HAVING REACHED THE 50 RETRACEMENT FIB WE COULD SEE AN EXTENSION TO AROUND 1.56 PRICE WHICH IS CONFLUENT WITH THE -27 EXTENSION FIB. THIS WOULD BE THE 5TH WAVE OF THE ELLIOT WAVE SEQUENCE. FOR AN ENTRY WILL BE WAITING FOR A BREAK OUT ABOVE THE RESISTANCE ZONE AND THEN A RETEST WITH TARGETS FOR 1.56
AFTER ALREADY REJECTING AND FALLING FROM 61.8 RETRACEMENT LEVEL PRICE THEN BOUNCED OF THE TREND LINE AND THEN REJECTED THE 38.2 RETRACEMENT LEVEL, WHICH IS CONFLUENT BECAUSE THIS IS A KEY LEVEL OF RESISTANCE. IF WE SEE A BREAK OF THIS UPWARDS TREND LINE WE COULD BE HEADING STRAIGHT DOWN TO 1.91. WILL BE WATCHING CLOSELY TO SEE IF IT BREAKS OUT OF TRENDLINE. IF IT...
Having already looked at the longer time frame charts and my bias being short i am now looking for an entry on this pair. I will be waiting for a breakout of the trend line and the current consolidation zone alike for a short entry with stops placed above the high of the consolidation zone.
NZDUSD SHORT DUE TO USD STRENTGH DUE TO FALLING OIL PRICES.
Due to falling oil prices the dollar has been increasingly gaining strength and looks set to break out of its current trading price and in the long term reach around 1.17 price level which is also confluent with the 61.8 extension. We will see into the later stages of 2015 how this plays out. I am waiting for a breakout and retest for an entry then will be riding...
Purely technical analysis, we've already seen a double top and another lower high after the trendline was broken. This lower high was a 50 retracement fib and after hitting it melted. It is now retracing again and using the high from the previous retracement we can now see price moving back up to crash down again is what i think. Will be looking for an entry...
Purely technical analysis, we've already seen a double top and another lower high after the trendline was broken. This lower high was a 50 retracement fib and after hitting it melted. It is now retracing again and using the high from the previous retracement we can now see price moving back up to crash down again is what i think. Will be looking for an entry...