NASDAQ:AAPL has had a 3 week rally into the 382 from the March high.
This rally has been weak with lower volume again on this last 6 day rally.
This is where time and price line up perfect.
If it gets above 152 then there could be a bigger move to the upside coming.
Being the biggest stock in the US Stock market then it has a bit of pull where things will go...
COINBASE:BTCUSD has the possibility of one more low.
The last low wasnt a massive volume spike so thats why im looking one more low to shake a few more out.
AB=CD completes at 12500 at around the 89% level from the ATH and the 2020 low..
Interesting couple of weeks ahead..
OANDA:AUDUSD
AUDUSD broke out of the key level of support,made a retest at 38.2%, made a bearish engulfing candle These confluences give a good bearish setup
Here is a key level to watch in the GBP/USD as we roll into the final trading week of May:
Weekly 38% Fibonacci Retracement, 1.2592
Here's the trade:
1) Sell GBP/USD @ 1.2584
2) Stop Loss @ 1.2629
3) Profit Target @ 1.2546, 1:1 risk vs reward
Triangle breakout on this H1 chart volume decreasing with Chaikin Money Flow falling below zero. 38.2% Fibonacci Retracement key level to watch for retest. Big show of weakness. Big selling pressure. 14.6% Fibo target maintained in confluence on this triangle pattern. 2nd target below on AB=CD pattern in confluence with local support as we can see in my last update today.
FX:USDCAD on the longer time frame it looks as though we are heading a lot higher towards 1.3000 - 1.3300 areas.
1.3026 is the 382 from the 2020 high.
This is also the area where the ABCD will finish from October last year.
There is also the bigger ABCD from June last years low.
Once these patterns finish later in the year there could be another big sell off....
A key resistance level is in view for the EUR/USD:
Weekly 38% Fibonacci Retracement, 1.0920
Here's the trade:
1) Sell 1.0914
2) Stop Loss @ 1.0954
3) Profit target @ 1.0874, 1:1 risk vs reward
Taking a look at the OIL this month we have a chance at getting back down to $80/Barrel or lower.
Firstly if we look at the AI for the month it looks to be choppy with a sell off later in the month. I have marked a couple of critical dates. Highs or lows into these dates could mean a reversal, for example if we are at a low coming into the 28th of April then I...
OANDA:GBPUSD
GBPUSD broke resistance/neckline yesterday on the reverse head and shoulder pattern.
Price pushed up and later retested at 38.2% with a bullish engulfing candle giving buy setup.
Sept 2020 resistance, turned support being retested coincidentally on the 38% fib retrace. Looking for buy setups if they present themselves. Average investors have erased all gains since Sept 2020, if not actively managing accounts.
OANDA:GBPUSD
GBPUSD broke trend line structure based on the 4H and 1H further broke the 4H support line with a long bearish candle. As I look for entries on the 15min timeframe I see price attempting to make a retest on the 4H support/resistance, and the fibs show a 38.2% fib retracement which is in confluence with the 4H resistance. The 21 EMA is above the 8 MA...
OANDA:AUDUSD
AUDUSD on an uptrend with HHs and LLs on the 1H. Price broke resistance and made a pullback testing what is now support. Price retraced at 38.2% fib level. A consolidation occurred creating a descending triangle with LH's and a strong support level with long wicks indication a strong rejection of buyers, should price close higher than the last lower...
C finally reached the 0.382 and made an sfp on 4hr TF taking the A low and all the stops under it touching perfectly that daily level in brown (last untouched daily of the range, significant), on 1hr TF we had a bounce on the 0.705 (typical institutional bounce), confluence here
and stochastic rsi bottomed on high TF, ideal condition for a bounce
Waiting for Nifty to break out this week for taking fresh long positions. It has been resisted multiple times and has created a trendline. A strong breakout will lead to continuation of the bull run. While bank nifty has already given breakout, hoping nifty does the same.
The down move from the all time high, is just a retracement when looked on a higher...
AUDCAD on the daily chart is testing for a 4th time a weekly support.
The price is in a downtrend and tested the 0.382 Fib level after the last bearish impulse.
According to Plancton's strategy if the market will break below and satisfy the ACADEMY conditions we will set a nice short order.
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