14th post FX:AUDNZD
Any comments and suggestions are welcome.
Potential Cypher Pattern forming on the 1h charts. Of course, it is still very early to say, but if we get a D leg, it could setup for a nice trade.
Just starting out with all of this so thought I would post an entry for some feedback. I took a long entry here on AUDNZD. My reasoning was that price was bouncing off both the 20 and 50 EMA lines on the last candle, which was a low test. In the strategy that I have been learning a low test seems to indicate a long entry, usually supported with price...
Price range is getting tighter in the reversal zone, which means a breakout is likely to occur. The trade is long bias because of the moving averages above the PRZ; I expect a bounce and touch of the 8 and 20 day MA. If the price goes south past the triangle we can expect a move to at least 1.06150 over the next couple sessions.
The weekly chart shows a very interesting inverted head & shoulders pattern following a significant AUD decline against the NZD after breaking, but failing to hold below the December 2005 lows. With the renewed dovish tone of the RBNZ after disappointing dairy prices, and even more disappointing consumer price figures, this looks to be a good opportunity for...
After a 5-wave rally, this pair is ready to take off to surpass the 1.11 high in a Wave C or 3.
See how beautifully the channeling technique has contained the corrective price action.
Ali Sharif Azadeh, CFTe
This trade is based on cross time frame analysis where the 4 hour, daily and weekly all show technical signs of reversal. On the 4 Hour we can see the formation of a double bottom, the daily has a morning star and the weekly is developing a pinbar. My stop loss will be based under the double bottom and incorporating the psyco number - learn to trade like a pro...
This pair has been falling in recent days but this massive bullish 5-0 pattern is to be considered seriously. An inverted AB=CD on the 50% retracement zone is what constitutes an authentic 5-0 in this pair and since the time zone is also ripe for a rally, this pattern has a high chance of success.
Stop Loss and Take Profit levels are shown on the chart. I suggest...
A lot of "IF's" obviously, especially because the market has been snaky lately;
I'm Short, with expectations to test the trendline support; (blue line)
I'm Long IF price forges point D.
Notes on chart;
Pattern objective: Enter Long at D
SL below X (check previous structure)
TP1 38.2% retracement AD
TP2 61.8% retracement AD
Here we got a potential long with trend after a Bat pattern completion at horizontal minor support with trendline confluence, we just need to see some more oversold RSI and we are hopefully good to go long.
With the China news out and the hole Greece deal going south who knows whats gonna happen when the market opens, so be careful this week.
I´m sorry i have...