FxGeneral876

FxGeneral876

We are currently on the left shoulder headed down towards the .382 support fib level. Break of the .236 fib level indicates a larger move down to complete left shoulder. The .236 fib level, which was prior support, now looks like a great resistance area. First T/P is indicated by red highlighted area just at the .382 fib level. Good Luck!

FxGeneral876

1. We have price supporting up along a bullish trendline, currently moving up from 4th wave. 2. Stop loss can be placed just below 4th wave under .5 fib resistance, now turned support. 3. T/P1 should be at .786 fib level near prior move down indicated by purple highlighted areas. 4. A break out of bullish trendline will invalidate the trade and indicate a move...

FxGeneral876

Price has moved up above .236 fib level and is making a higher push towards the .382 level just below upper trend line. A sell order can be placed just below or at .382 fib level, which would complete the third move up of the three drives pattern. A strong break above .382 fib level, out from upper trend line would invalidate the trade. As always Good Luck!

FxGeneral876

Price has broken out of medium term bullish trendline. Price is now retesting trendline structure at prior support, now turned resistance, indicated by red highlighted area. We have triple rejection below the .618 fib level. Could enter now at market conditions with s/l above .618 fib level. A more conservative entry would be after a breach of the .5 fib level...

FxGeneral876

Prices have moved back to top of range and looks to be making another move down. A short could be taken at market price, risking 30 pips, or a more conservative entry could be taken after prices have broken .786 fib level. First t/p could be placed at .618 fib level, at bottom of prior move up, with a second t/p being placed at bottom of range, near .5 fib level.

FxGeneral876

If price breaks out from the top of triangle then it would be a good opportunity for a long to the upper trendline of larger channel structure, towards red highlighted area. If price breaks from the bottom of triangle then wait for long opportunity to develop at lower trendline of channel, around the green highlighted area. Trade would be invalidated if price...

FxGeneral876

A head and shoulders pattern looks to have formed on the 4h timeframe, with the pair moving back into a prior range. A break of neckline would give another selling opportunity if previous move down was missed. We also have some divergence on the RSI. First target would aim for .236 fib level, back to the bottom of prior range. A significant break of .236 fib...

FxGeneral876

Prices look to have broken out from short term bearish trend line and currently making new highs. If prices surge pass the .5 fib level then .618 fib could be first target area then if all goes to plan we could make a run at the .786 fib level. On the flip side if green channel is broken and price moves below .382 fib level then we could stay bearish in the short...

FxGeneral876

Looks like a long opportunity but waiting for confirmation signal. Prices have retraced back to previous resistance into .236 fib support and currently at lower end of channel structure. A break of the channel structure out of .236 fib then would look for short opportunity at retest of lower channel.

FxGeneral876

I see two possible setups that could unfold on this pair. Setup1: Rejection off .382 retracement level, breakout from rising wedge then head south from there. Setup 2: Prices head north reject off .5 retracment level off of prior support indicated within red highlighted region. Setup 2 seems like the safer choice while Setup 1 is a bit more aggressive. Just look...

FxGeneral876

Prices were contained within a downward trend line until prices broke through at wave a-b. Prices then formed right shoulder at wave b-c, retesting downward trend line, rejecting and then breaking through the inverse head and shoulders neckline at wave c-d. Prices seem to be retesting neckline before its next move up. If prices stay above the neckline at the .236...

FxGeneral876

Two possible scenarios could take place within this pair. Scenario 1(Bullish): Prices respect upward wedge, stays above .236 retracment level, breaks out and tests .5 retracment level. S/L could be placed just at or below critical level S1 and T/P could aim to hit .618 retracment level just below the upper range of the wedge formed on D1 chart (upper green...

FxGeneral876

This would actually be considered a counter trend trade for me since this pair has been on a massive down move since November. Stops could be placed at the critical level just below wave 4. If the critical level is penetrated then this trade would be invalidated. Look to place t/p just before or at .786 fib level(within the highlighted area). Good Luck! and be...

FxGeneral876

I see two scenarios playing out although I'm overall short on this pair! Trade can be taken now with stop loss just above critical level or look for better confirmation on lower time frames! Good Luck!

FxGeneral876

Looks like a good sell opportunity according to all the technical but look for confirmation on lower time frames. Description on chart! Good luck and critiques are welcome!

FxGeneral876

Prices seem to be respecting the wedge structure so far. Go long at bottom of wedge and short at top of wedge structure, wait for confirmation signals on lower time-frames and be wary of any impending breakout. Good luck!