It has hit the 50% FIB level and is now retracing. We are shorting this pair and a few other cross pairs as well. Trade safely, always use SL.
Now this pair is at its cross roads. It can either break below the support line (red dotted line) and heads towards 3.338 then rebound or from current price , it heads for a pull back and goes up to 3.698. Notice that twice the price action hits 3.528 and rebound? See, it is between 50% and 61.8% FIB zone so it need not be precisely touching this two points before...
Look at the 3 triangles highlighted, the first two touches the 61.8 FIB level and rebounded. We are watching closely the candles for signs before buying AUDSGD. What this means is that the A$ and S$ pair is reaching parity. A$1 = S$1. Parents who are sending their children to Australia to study may be happy as the exchange rate is in their favour. The lower it...
After breaking out 3 times, first in March this year from the 61.8 FIB level, the SGDCNH pair seems to be suffering from the winter chill of China. It is resisted once again at the 61.8 FIB level. Not once, but again 3 times. This is good for me as I return to China each year in June. The higher it goes, the more yuan I get and that increases my purchasing power...
Again, 4 attempts to breakout from the 61.8 FIB level but each time, it failed and retraced. We think this time, it should break out and have a slight retrace (maybe not ) and shoot straight up to the red dotted line where it would meet some resistance. That is our profit target. Please feel free to comment, thanks
Please note that the price zone is an estimate and not a precise price entry point for selling or buying .Use a shorter time frame like 4H or 1H to determine is better. We remain bullish so any dips is a buying opportunity for us.
I think that KLSE (Malaysia index) selling is almost done. It should go down a bit more towards the 50% and 61.8% FIB level and we should see a decent rebound from here. Buy on dips.
NICE!!!! Today, it breaks the 10,000 mark, hitting out TP3 very soon. Indonesia , one of the emerging Asian market with a huge population of middle income earners will drive the domestic market to higher growth.
Nice Head & Should formation identified. The white box indicate this pair is in consolidation mode since Sept 2016. It breaks out in Sept this year, failed and recently in October again. From chart pattern, it appears unsuccessful as well. The final straw that will break the camel's back would be the breakdown from the channel line. If that happens, this bridge...
Notice how the price rebound from the 50% FIB level ? Also, did you see the last green candle was a nice bullish engulfing candle over the previous one?
I like to think the 21EMA is a good indicator of price action and when used together with candle stick, it is powerful. Look at the 8 purple balloons that I have circled. Notice each succeeding upmove is evidenced by a bullish engulfing pattern, i.e.. 1-2 green candles closing higher than the previous red candles. Sometimes, it is obvious, others less...
First, it broke out of the upper channel fiercely, taking us out of shorts. We stay on the sideline to watch, it falls to the near 50% FIB level (see yellow dotted line) and we take a nibble at 1.17500 to buy. NOTE - it has closed above 21 EMA with a strong bullish engulfing candle, no reason for us to think it will go south in the short term. All the best in...
A nice inverted Cup and handle is formed, expecting it to follow the yellow arrow line. Buy on dips. If one looks carefully, the price action also indicates a nice H&S pattern as well, head at 0.99443, left shoulder and right shoulder at 0.99113. Thus, if this formation holds true, then, the price action should retrace slightly, touching the 21 EMA before going...
3 days of selling or profit taking to take off some heat. The last daily candle is bullish, closing above 21EMA. Bulls continue, bears retreat.
Looking at the daily chart, you can see there were 3 attempts to rebound from the 618 FIB level. The 3rd attempt had a nice bullish engulfing angle. Price action sits above 21EMA, a bullish sign for us and we took a small nibble at 69.2. We think the H&S shoulder pattern is forming in process. Once it breaks out of the triangle, it should heads towards the right...
This weekly chart shows that price action being rejected the 4th time at the 50% FIB level. Will it breakout on the 5th attempt? On hindsight, we can see that 2016 was the bottom for Copper at 2.00 price zone before it charge up to current price of 3.07. In the past, I would reprimand myself for missing this great opportunity! Not anymore, not being able to...
I have discovered this Cup and Handle pattern for a while and it has helped me in many forex pairs, indices and even commodities which I trade. This is an inverse Cup and Handle pattern and the right handle is formed with the green lines. By drawing a line (upper channel - black) touching the peak of the base cup and touching the various peak downwards, one can...