A trade I have been stalking for some time. After breaking out of a previous area of consolidation, price has retraced back into this area. I will be looking for shorting opportunities intraday, with a view to a swing trade targeting the 1.230 region.
ADX approaching extremes
61.8% Fib of dominant downswing has confluence with...
Price has carved a range between the 38.2 and 61.8 fib levels
Following NFP, price has tested the top of the range for the first time
I am expecting resistance to hold and will look to enter a short position
!st target at 1.062
2nd target 1.053
Price bounced to retest previous support which seems to be acting as resistance
Following NFP, the Dollar appears to showing some weakness despite a positive number
Intraday, I will be looking for short opportunities with targets are previous lows.
Price appears to be retracing having recently broken out of consolidation
IF price retests the consolidation zone between the 50% and 61.8% Fib levels, I will be watching for bearish activity
Targets would be a retest of recent lows around 1.220s
Price recently broke to the downside to test 1.599, causing a double bottom on the daily timeframe, and formed a very strong bullish candle.
Price is back within the range and testing the 61.8% Fib
I consider price to be at an interesting level. Should this area hold, I will look to hop on to the trend down, looking for new lows.
If there is a breakout higher, I...
Price has recently broken out of the choppy range at resistance around 0.77400s to the downside
Previous support can be found around 0.75200s, an area confluent with the 38.2% Fib of the upswing.
RSI is already oversold a touch
I will be watching for bullish signs to get long, preferably a double bottom.
After breaking to new lows, price has retraced to test previous support
Another test of the recent swing high around 119.800 alongside the potential bearish divergence could offer a short opportunity and chance to join the trend.
Likely targets are the recent lows at 118.600, although if new lows are set 116.00 could be the next turning point.
Note of caution:...
Tweezers pattern at the 61.8% Fib level of the recent breakout suggests bullishness. I would look for opportunities to get long intraday.
This instrument has been ranging for some time, so I would be conservative with targets.
The 38.2% Fib, the recent range highs and then the last swing high would be areas to watch.
After breaking to new lows price found resistance at previous support, which has confluence with the 50% Fibonacci level.
However, the trend did not continue, forming a higher low. Price has again come into this area of support formed by the higher low, forming a double bottom on the hourly chart (not shown).
A long trade here has two nice targets: the recent...
After a steep fall in price in today's session price has found support between the 50% - 61.8% Fibonacci levels.
With all the recent sideways action, it is harder to predict the moves in this market, but I would tend to go with the direction on the lower timeframes in these markets.
It looks like there will be a little bullish relief going into tomorrows session.
Price has pulled back from All-Time Highs to test the 38.2% Fibonacci level, almost to the pip.
With price closing right at resistance, a breakout is imminent.
If price breaks out higher, I will be looking to get long on a successful retest of the breakout area.
Price has generally been consolidating and recently broke out to new highs, before falling back into the range.
Support around the $54.60 - $55 dollar range is holding. This area looks reasonably strong, and has confluence with the 61.8% Fibonacci level.
With an inside bar forming at support, a breakout trade is on the cards.
As we are still in an uptrend, I am...
Following an 80 pip gap up, today's session has closed as a very strong bullish candle.
The DAX has been consolidating all year, with no direction. Today's candle is finally suggestive of bullish momentum building.
I am now looking to take a swing long position, targeting the All-Time Highs at 12390s.
Intraday I am firmly biased to the long side, and will look to...