Follow the Trend, Trend is your Friend. That's the setup on FX:EURUSD 1H bars. The market makes Higher High and Higher Low. The last correction move will be finished soon and it is expected it will be retraced on red box. 1. The price is getting close to structure low, where the most of the buyers orders are placed. 2. Support level at 1.0908 (structure low) 3....
Bat pattern Setup!! Hello guys Errol here, We are looking at a possible bearish bat pattern here. We might also see a 3 Drives pattern if we get a completion at the top of the third leg which also lines up with previous structure. We aslo have some Ratio congfluence at the D leg completion where we are looking to get short. Very nice risk to reward situation...
There are several interpretation on longer term prospect for AUDUSD as some analyst of major banks ( technical-analysis.forexlive.com ), attempt to label the chart and I assume they know what they are talking about. However, I am not sure about the move from 2008 low to 2001 high labelled as 5 wave impulse and likewise suggesting that we are now in 5 wave decline...
A DAILY CLOSE ABOVE RANGE RESISTANCE INDICATES POTENTIAL FURTHER UPSIDE, A CLEAR BREAKOUT OF LONG TERM RANGE EXPOSES 1.2520's THE 150 DAY MA THAT WAS PREVIOUS RESISTANCE ON 4H CHART HAS BEEN BROKEN, A POTENTIAL MA CROSSOVER TO THE UPSIDE CANNOT BE RULED OUT EITHER - ADDING TO FURTHER CONFIRMATION OF UPSIDE POTENTIAL A RETEST OF PREVIOUS RESISTANCE TURNED SUPPORT...
Potential bat pattern completion at the 1.618 level as well as previous resistance. We are also in a descending channel and approaching resistance. When price reaches the 1.49000 area, hopefully we see some confirmation; maybe a doji followed by a lower close, or and bearish engulfing candle. I've gained some confluence by using the Fibonacci retracement tool,...
UPDATE FROM YESTERDAYS TRADE: After the sell off this morning EUR/JPY is re testing its 4h trend line which came into play yesterday, fresh lows of 133.90 but failure to close at these levels show potential further downside to my target of 133.50. RSI is still holding its downwards trend, plus Ichimoku shows that we've had a cloud crossover as well as a TK...
Most of the other YEN pairs have recently declined strongly from earlier in the year which in varying degree are being retraced with some possibly still in progress and others might have just completed. CADJPY - appears to be such pair that might have completed the retracement and could be in very early stage of resumption of the down trend and potentially offer...
We placed NZDUSD on our radar during yesterday's Live Room session and have been tracking it ever since. I apologize in advance, but the analysis that I did on this pair is somewhat advanced so I'm not going to attempt to duplicate what I shared with you in last night's Syndicate video. Honestly speaking it's a lot clearer on the 13 period range bar charts (as...