Hi traders, We saw a solid dollar rally late last week following the strong NFP result. The 270K+ figure will likely increase the possibility of a Fed rate hike in December (at least in many participants eyes). If we see Aussie rally, then I will be watching the 0.7080-0.7110 zone for an trend continuation opportunity to target 0.70 flat. Good trading. Luke
Good Monday traders. Here is the first setup of the week. We have a pure structure based shorting setup on FX:NZDUSD . The market is moving in the wedge currently and I am waiting the price to enter the Red Zone and fall all the way down. The reversal zone is between the structure resist and the fibs 61.8 with the confluence of look left structure. We should wait...
Potential Bat pattern with a nice structure at 120.681 T1 - 38.2 T2 - 61.8 Risk/Reward - 1/2.6, I like it.
basic textbook setup. price has retraced into a key resistance level which also has 2 fibs lined up with it aswell (38.2% and 61.8%). double top has now formed and price has bounce off the Resistance forming a pin bar/inverted hammer. Target at the neckline of double top.
textbook setup. Price has failed to break the 1.10 psychological barrier several times so this could be a nice level to go short with a nice 1:3 risk to reward. if price does manage to break out of this barrier then next resistance to look to get short is at 1.11294 which is also in confluence with the 61.8 fib level.
Kiplingers had an article on airline stocks that opened with "There's an old wall street joke about how to end up with $1 million worth of airline stocks...Start with $10 million." "In 2000, nine airlines controlled about 80% of the U.S. markets. Today, just four companies control about the same percentages." Looking at the major players American Airlines...
after price has tested supply zone twice or thrice—and buyers have flooded the market—selling pressure could cause a pullback to blow past the 61.8% retracement to the demand zone.
I've noticed the price of gas has been declining for about three to four weeks. Come to see, Oil has been in a free fall for a month now. From the bottom in mid-April to the high in late-June, the 61.8% provided a technical level that prices could bounce off of. Even when the harmonic patterns aren't evident, the harmonic ratios are always close by dictating...
I'm watching a 0.618 structure breakout trade for a possible buy setup back up to 140.90.the Asian session managed to push back price up above major structure support indicating a correction move before the next bearish wave.