Trade Set up 1:
Buy EUR after it breaks 1.0992 level
and Targeting 1.1256
SL will be the origin of the bullish candle that breaks the 1.0992.
Trade Set up 2:
Wait EUR comes into the AB=CD and the 0.618 Level
which complete at the same Level: 1.1256
SL recommend to be above 1.1400 ( the 1.618 ext)
This Trade reminds me of the last year's GBPUSD trade
Another short set up on AUDUSD since downward momentum on the previous set up (idea linked) failed is on offer. The present set up comes after a deeper pull back, organic in a sense, into the 50 ema which also lines up with a previous level of support (~0.7250), now acting as resistance, and the 0.618 FIbonacci level. Price closed as a high test bar. Oscillator...
On the S&P 500 and NASDAQ100 indices, closing as a high test bar in the resistance zone, and a bearish engulfing bar on the FTSE100 (UK100) stock index, a sell setup is in order suggesting potential bearish continuation on these three (CFD) indices, following the recent sell off on major indices.
1. S&P 500
The rejection/resistance zone on the S&P 500 comprises...
With the following noted a long scenario appears to be in play:
- bullish reversal bar (near resemblance to bullish pin bar/low test bar)
- resistance becomes support (at ~2.3260 which stands out as a weekly level dating back to November 2009 )
- retest of 20 ema and close above
- trend line support (third touch)
- Rejection of 0.618 Fibonacci level and 50%...
IM ALREADY SHORT IN THIS PAIR BUT IF PRICE RETRACES AND TAKES ME OUT OF THE TRADE THEN THE NEXT LEVEL I'D LOOK TO SELL IS AT MY CLUSTER ZONE/SELL ZONE. IVE GOT LOADS OF CONFLUENCES AT THIS LEVEL WHICH ARE THE 0.5 AND 61.8 FIB, SUPPORT TURNED RESISTANCE STRUCTURE LEVEL, MAJOR TRENDLINE, DYNAMIC RESISTANCE (50 MA) AND A NICE PSYCHOLOGICAL ROUND NUMBER (1.03000)....
A successive cycle imitating the 3 drives pattern is in formation on the EUR/GBP 4 hour timeframe. Stochastic divergence, usually leading to a deeper pull back in a trend, has given the following confluence for the resumption of an in trend phase to the downside with price pulling back into:
resistance at 0.7290;
50 and 20 ema;
0.618 Fibonacci level (very...
Case for entry short:
bearish doji bar close;
retest/rejection of resistance at ~1.5025; and
0.618 Fibonacci level rejection and close below
entry - below doji close
stop - above doji close
target - ~1.4830 (weekly support level and also 1.272 Fibonacci extension level)
Similar to AUD/CAD, AUD/CHF is setting up for a short opportunity with the following in view:
- inside bar following high test bar in pull back to 50ema
- price rejection at resistance at ~0.8210
- price retraced to 0.618 Fibonacci level which coordinates well within proximity of resistance at ~0.8210
- Stochastic and RSI in overbought territory
- Stochastic and...
In its prominent down trend, price continues to have pronounced consecutive cycles below the 20 ema pushing EUR/USD lower. Today’s bearish reversal bar bumped just shy of a past level, now acting as resistance, at 1.2500, and closes below 20 ema and 0.618 Fibonacci level. If a short trade does not trigger a re-entry can taken at the test of 50 ema and/or...
In view of price action on the daily time frame, EUR/USD has demonstrated a lower high with a rally back into the daily time-frame's falling trend line with the possibility of heading into ~1.2885 where the recent daily high sits. A violation of this high, though unlikely, could see a change in trend in EUR/USD. Until then, as indicated by price action behaviour,...
The clarity of higher highs and higher lows makes this pair stand out boldly in this aggressive uptrend. Price has retraced into previous resistance (now support), and rejected the 10 ema, 0.618 Fibonacci level and is within the bullish trend channel giving a low test close appearing ready for a rally north.
Entry - above today's low test
Stop loss - below...
After a break below ~1.8150 and a strong move down price has retraced back to and rejected the ~1.8150 area with the 0.618 Fibonacci level being in spitting distance of it, and the 50 ema as well with a close below. Stochastic and RSI indicate convergence.
Entry - below today's bearish bar
Stop loss - above today's bearish bar
Target - initial profit taking area...