Weekly
- Bearish engulfing
- Cross and close below 200EMA
- Break and close of rising weekly channel (18 week uptrend)
- RSI bounce from overbought territory
The ascending channel pattern on H4 chart of XAU/USD shows potential for a bearish breakout. The pattern's borders are shown with the yellow lines. The potential entry level - with the cyan line. The potential take-profit level - with the green line. Stop-loss is to be set to the high of the breakout bar (not shown).
More information, and an MT4 chart template...
As long as the low line of the channel holds, we could expect a bounce to the top.
Then breakout on the top is expected as well since the daily downtrend has been broken and retested.
This could be a successfull setup:
SL: 1.425
TP1: 1.44
TP2: 1.45
Good luck everyone.
Hello Traders,
After doing top down analysis on FX:EURGBP , I have couple of key ideas that I would like to share with you guys. First of all we can see a clear rising channel (purple in color) formed on the 4 hour chart. Do notice the 2 false breakouts that we got in that channel. I only consider any level being broken only when we get a valid retest after the...
The Rising Channel of the GBP/JPY has been broken and has closed below the Channel. I took a short on the first close below the Channel. My stop is 1 ATR is above Breakdown Bar around 187.05's. I listed a few Target's for you guys. Choose them as you wish. I only Trade 2 Targets per my Trading Rules. In order to get this pair we need to see Risk Aversion. All JPY...
The GBPJPY has been in a Rising Channel since October. Rising Channels tend to break to the downside. Today we finally got a break & Close out of the Channel on the 4hr Chart. This would be a longer term trade. Stop is 1 ATR above Breakdown Bar. Target is the measured move of the Channel (yellow line).
Nov 13 2015: BEARISH EURUSD 1H: Long term bearish channel
(Analysis Based on 1 hour chart)
Observations
1. Long term bearish channel
2. Two short term bullish channel
3. Bullish head and shoulder pattern
4. Price at weekly swing low
NOTE: Wait for price action to confirm the importance of these levels.
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Nov 12 2015: BULLISH USDJPY 1 Hour: Buy flag pattern breakout
(Analysis Based on 1 Hour chart)
Observations
1. This pair has consolidated after a sharp up move
NOTE: Wait for price action to confirm the importance of these levels.
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Nov 3 2015: BEARISH EURUSD 15 Min. Sell channel top. Buy support
(Analysis Based on 15 min chart)
Observations
1. Long term down channel
2. Short term down channel
3. Price at support
4. 15Min RSI oversold at swing low
NOTE: Wait for price action to confirm the importance of these levels.
If you find this information useful. Please hit the LIKE button.
Nov 2 2015: BEARISH EURUSD 15 Min. Gartley completion in kill zone
(Analysis Based on 15 min chart)
Observations
1. Long term down trend
2. Price at resistance
3. 15Min RSI overbought at swing high
4. Bearish gartley completing in kill zone
NOTE: Wait for price action to confirm the importance of these levels.
If you find this information useful. Please hit the...
BEARISH EURUSD 1H: Support becoming resistance. Bearish price action in kill zone.
(Analysis Based on 1 hour chart)
Observations
1. Long term down channel
2. Short term up channel being retested
3. Price at daily swing low
4. Overbought RSI at 1H swing high
NOTE: Wait for price action to confirm the importance of these levels.
NOTE: This is a counter trend...
Nov 2 2015: BULLISH EURUSD DAILY: Waiting on gartley to play out
(Analysis Based on Daily charts)
Criteria
1. Up trend on the Daily chart
2. Price at daily Support level
3. RSI hidden divergence
4. Gartley pattern terminating slightly below channel lows
NOTE: Wait for price action to confirm the importance of these levels.
If you find this information useful....
BULLISH price at support
(Analysis Based on 4H and 1H charts)
Criteria
1. Up trend on the 4H chart
2. At channel bottom
3. At weekly swing high
4. RSI was oversold at previous swing low
NOTE: Wait for price action to confirm the importance of this level.
BUY GBPUSD at channel bottom
(Analysis Based on 4H and 1H charts)
Criteria
1. Up trend on the 4H chart
2. At channel bottom
3. At daily support level
4. RSI was oversold at channel bottom
5. Slight hidden divergence
NOTE: Wait for price action to confirm the importance of this level.
The price of EURUSD finally broke the upper line of the Descending Triangle. I am expecting a drop, confirming the ascending channel, but the general direction on medium term is still up.
