Market has been correcting and approaching key resistance zone 0.9330-0.9355, which coincides with 0.382 and 0.5 retracement. Overall this pair is looking more bearish than bullish as long as price is below this key zone. Wait and watch for price action signal in the sell zone, preferably upper end of the zone so that SL can be placed above that wick on 6 Aug.
Market sold off heavily yesterday, thanks to BOE Governor. Market closed below key support zone 1.6700. Expect more downside towards next support zone 1.6550-1.6600. This is also the zone where the bullish cypher pattern will complete. It also coincides with 61.8% Fib retracement from the double pin swing low to the highest swing high. This looks to me like a...
Rite Aid and I have a long history going back to a buy when it was well less than a dollar. We've recently seen a steady bullish move until the recent news that competitor Walgreen Company was looking to buy the remaining 55% of Alliance Books putting them into international markets for the first time which would potentially allow them to undercut Rite Aid. For...
Watching this pair, as it just hit important structure level and RSI on an overbought condition. Following the downtrend on the 1H timeframe, this would be a nice short opportunity with target around the 1.272 extension at 1.6719. Good luck guys!
Hi I tried to make my analysis on a single timeframe chart ( I usually make my analysis out of Daily timeframe, 4 Hours and 1 Hour or 30 Min for my entries ) This is a very simple structure based trade, Once price reach my first target I will muve my stop to breakeven, from that moment I'll look for swings in smaller timeframe to structure trail the balance of...
Actually we see this nice simple structure and second time it spikes into previous structure support as you can see in the bigger picture. I am looking at lower timeframes to get an opportunity for a long trade with good risk-reward. The currency relation this week is 1.6 : 1 so that NZD can start to move up in thios area. Let's see :-) If it starts, take care of...
Great spot to look for a reversal play. Up against structure with a great stop areas.
GBPJPY finishing up a head and shoulders pattern with a nice red candle. Based on necktie height and structure, price could drive down to the next support line. This would mean a breakout from current ascending triangle. Skeptical as to whether this is a true breakout, will wait for a retracement to resistance and see how price behaves. If price respects new...
The market sold off and approaching key support zone 0.8400 (round number too). Price is slowly retracing up towards 0.8460 (now a resistance zone). Question is do you have the guts to short it from that level with key support coming very near down there and with the down move seems 'overextended'? For me, a correction upwards seems imminent from current level or...
GBPCHF broke out of the upward channel a couple days ago. It's lining up with some nice structure lines and showing some long wicked candles at resistance. I don't think this is a false breakout so I'm betting on price returning back to the last support line.
Coming off an impressive long from last weeks bullish bat pattern, the pair has now come back to retest previous structure highs. Although i wouldn't consider this to be the optimal structure level, the risk reward that is available on this trade makes it worth the take. A single ATR stop above the highs provides me with a less than 20pip risk (if i'm wrong, I...
It's been a great start to the trading week thus far, with a handful of Friday's patterns paying off big time. I've ended the past 2 weeks in drawdown so it's about time things get back to normal. This is a pretty simple one, a bearish Cypher which is coming up into previous structure highs. A look on the daily chart will show you this this is a powerful...
Looking at the chart in H4 timeframe, we can see that the overall trend is down. Market has been consolidating and grinding up slowly since hitting a low 0.8460 but still contained below resistance zone 0.8530. Possible scenarios: a) if price breaks and closes above 0.8530, then will be looking for long entry to trade up to next resistance zone around 0.8660. b)...
Last week, market tested and broke resistance zone around 102.75 three times but failed to close above it. From the chart, we can see the three candles with long upper wicks showing rejection of resistance zone. Will be looking for short opportunities from any retracement back to 102.75 level.
It's been the second time that this pair broke the important 1.09 resistance zone. Is it real this time? Interesting setup to monitor during the coming week. Read more in the Weekly Markets Analysis marketzone.tumblr.com Join the Zone community - www.themarketzone.net
New lower low, waiting for retest of previous low. Sell at confluence with 50% fibonacci retracement of the last swing low. T1 at structure (blue dotted line) which is 1.27 fibonacci extension of the last swing low as well. T2 at 61.8% retracement of the main swing high in this chart