Fourth press up to the line, pushback for a series of lower highs over past week. Bull trap. Expect correction to continue sharply soon. This post for education only, does not constitute investment advice, trade at your own risk; good luck!
We last posted on the AUDJPY on March 17th when we were waiting for 2 key support levels to be broken. The first, the drawn-in pivot lows of March, have now been broken and confirmed as resistance. This would potentially offer a short entry into the trade but this is where we are applying patience and waiting for the next key support level, the round number...
The CHFJPY has been trending very nicely since the end of January when price found resistance at the high of July 2017 just short of 119.00. Price has since fallen circa 800 pips taking price out of an area of consolidation. I have drawn in the support zone that was acting as the base of the consolidation. In March, we have seen a classic break and retest of...
The AUDJPY has setup nicely for a pullback entry short into an established bear trend. This must be taken at reduced risk for the reasons mentioned below. Monthly - Price is trading inside the annual levels of 2017 but has been in a bear trend since the start of 2018. Weekly - Price is trading below the 200SMA and the 50SMA. Daily - Price is trading below the...
The bear trend will likely continue when we get to the end of this pennant. A lot of cryptos seem to be doing the same thing and pushing further down , a lot are hitting key buy zones. We will have to wait and see what NEO does here to have a better idea of the buy zone.
Good Morning! A beautiful day with a lot of sunshine is ahead of us. What about Bitcoin? It is still testing that short-term target line at 12260. If it cannot break that line, we remain in the bearish scenario with targets at 9005 and 5594.
Ever since we got the bearish cross on SPX in August 2015, PA did make a new ATH but hasn't made a bullish cross! This overthrow is even more bearish imo. The roadmap obviously shows a correction is underway for at least 50% drop if not more, but let's be conservative and estimate a drop to 2007 peak at 1576, that makes 28.17%. We'll see what happens there. Cheers
Just got short on EURUSD 60min. We had a lower low lower close this morning signaling more bearish continuation. We just had a very nice pin bar being rejected at the back of resistance. Very small risk on this trade for a descent reward. Best of Luck
EURUSD is preparing for a potential big drop. Sellers found @ : - 1.1250 resistance - 50% fibonacci retracement of prior swing Our entry is based on the 123 psichological pattern. This trade carry good reward - 1:14 risk:reward , will become at least 1:7 risk:reward after we will cover- but we should cover after a little drop for any eventuality. This trade...
Hello traders, we're looking at trend continuation trade setup on GBPJPY daily chart..Obviously we still in a bearish trend because the price move from top left to bottom right of your chart..Last week the price have broke below and closed below the previous structure support..This indicate the trend continuation to the down side..The orange box is the area...
This is a bearish TCT setup to get us back in the direction of the overall Bear Trend. This trade is @ Market since we are banging up Resistance. Since we are so close to Resistance this trade gives us a good Risk/Reward. Stops - 1 ATR above last swing high Target #1 - Retest of Previous Lows Target #2 - 1.27% Fib Ext
GBPUSD has been in a heavy downtrend. I'm looking to sell ALL rallies until this trend is broken. As price pushes up into my sell zone I will be looking for Advanced Patterns, Harmonics, etc to help find a good entry. Stops - 1 ATR Above last Swing High Target #1 - Retest of Lows Target #2 - 1.27 Fib Ext of last leg down
Well its been no surprise that CL has been in a bear trend for quite some time. We will continue to keep selling the rallies. I just missed my fill on this trade. Maybe it will come back up for me.. We will see. The TCT was based on the 78.6% fib retracement and Fib Inversion Trade which completes at the 1.618% ext. The pullback also put in a harmonic move (not...
Looks bearish here as it has b/o to the downside of the intermediate upward trendline from 4/14'. It also just had an outside bearish engulfing week 2 weeks ago and has been trending lower as it is testing major support lvls. Also has been in a consolidation range for almost all of 15' & can't seem to break out to new highs which this consolidation could actually...
Looks bearish here as it could be forming major macro bear flag/pennant pattern and if it breaks 121-122 zone w/ volume then it could test 95-98 zone for the extension of the move & this could happen in the next few months.....it looks like the major line or zone of support is around the 90 level which would be around 900 or so actual Gold price.....this area is...