5 Reasons to go short. 1:) Symmetrical Triangle Breakout 2:) 50% Fib level intersects with 14 day bearish trend-line and 7 day bullish trend-line that was recently broken which could create a triple threat of resistance. 3:) Expected resistance at .7200 4:) Bearish Cloud 5:) Why the hell not. Entry @ .7195 SL @ .7128 TP @ .7100 Sorry for the...
This pair has been in consolidation on the daily which is the first sign of a reverse coming. In addition, the RSI oscillator has actually started to trend lower after just touching upon the oversold level, which could imply some bearish activity ahead for the pair. The Stochastic Oscillator has also reached into reversal territory with some divergence also...
I think that the USD against the AUD is going to have a mini crash in the next week based on current MFI and MACD
EM FX and commodities currencies are fairing pretty well since the start of the year, but market sentiment may change with the coming of the new quarter (market participants may focus more on the US during the second quarter with perhaps a realization that the first quarter slow down was temporary). On a technical basis, I see reason to be cautious on the AUD/USD...
Hello Traders, In this Wolfe Wave I want to highlight the internal moves between the points. Points 1-2: You want to look for an abcd pattern in the development of points 1-2. Though it is not always the case this usually helps define whats coming later on. ab=cd Points 2-3: Similar to 1-2, 2-3 also forms an abcd pattern. 2-3 is typically the longest wave in...
Well we must applaud the Aussie for showing some real strength against an overral declining Australian rate of growth, Chinese slowdown + depressed levels of commodities. However I think the spike will soon run out of steam, potential reverse from here to 0.77 and then fall back to minimum of 7.56. Possibly lower. It would be good to see some confirmation from...
Price is currently trading below KS and it seems the uptrend has been broken. Looks like prices want to test lower levels on a short term basis.
Please check the comments on the chart Feel free to like and comment. Cheers Jesse
Check the description in the chart for more information. Cheers Jesse
Downtrend on the monthly, but stuck at a key level. Downtrend on the weekly. Ranging on the daily. 0.73260 will be a key level to watch for shorts. Tier 2 trade because downtrends on major timeframes, and target zone coincides with top of range.
Posted a very similar chart yesterday. Prices rebounded strongly from the lower channel. However price does not seem to be able to breakout the upper channel as well. It is a trade worth taking, will add more shorts if price do close below the lower channel. All the best!
Lower Low on 4h chart, 61.8% rejection at 0.715, good to short till next resistance.