Bearish Flag / Breakout Possible on the Hour chart, We have come down and retraced to the 618 on the Impulse leg. The fib extention of 1.27 and fib inversion of 1.414 line up with the lowest pin bar on the daily. We are oversold in the RSI as well
i am currently short on usdcad after breaching, retesting and closing below the retest with a bearish engulfing. price has since retreated to retest a key level so we will see how this goes. expected strong Canadian data out later today also was part of my thinking for this trade so we will see how this goes.
There is potential for a breakout trade when the corrective pattern is formed. Keep a lookout for it. It might happen within the next few hours. Don't miss the trade. Thank you
I still think we have more downside to come. Looks to me like an outside return and now a possible breakout into a harmonic move like we just had. This also puts us in the area of a D Completion leg for a Bullish Bat on the Daily and a area of support which saw the pair move to recent highs Looking on the monthly chart its still looking like a bear flag formation imo
Looks ready to moved lower, we have broken below the daily trend see further downside from these levels
Similarly to the NZDCAD, we have another setup developing on the AUDNZD. Let's wait for the breakout with confirming indicators.
A sell setup is developing on the NZDCAD but we need a nice break with confirming indicators to get involved.
Price action has reached upper channel limits at aprox 98.30 level. Strong upward trend. Spinning tops and reversal candlestick may indicate a reversal. Wait for price action to break out of upward trend line to place trade. Target = aprox 95.00
This pair has been forming a bullish breakout structure and price is pushing against the 86.000 handle. Good upside pontential with primary target around the 88.000 handle. Long entries can be taken on the breakout or after the breakout on the re-test.
USDJPY on the 60min in consolidating in the shape of a Descending Triangle. These patterns tend to cause large breakout moves in the markets. I'll be watching this pattern and will be waiting for a Break & Close out of the pattern to give me direction. As of right now I have no idea which direction it will break, so I will not involve myself until I get my...
Triangle pattern in Brent. Will be looking to trade a breakout by entering on a retest of support or resistance (role reversal), depending upon the direction of the move. Not much else to say here really - just a visual aid by which to look at price action in the coming few weeks.
USD/CAD going down. Indicator used : RSI at 65 target 1.30 & then sell at 1.32 or above
AUD/CAD - Daily Chart Analysis - Waiting a Breakout If the price broke the trend line with a breakout candle, enter LONG . Take profit 1: @0.99860 Stop loss @0.95160 If the price bounce on the trend line enter SHORT . Take profit1: 1st support @0.94500 Take profit2: 2nd support @0.93400 Stop loss: @0.9800 Have a nice trading! gg.
I have a Long view on this pair up to the D point of the possible cypher. Looking at how we may get there, as you can see the previous candle came all the way down to previous support and rejected this are and moved up. This current candle is in or around another are of previous support. If we see the candle close above the trend line I feel we will see a move...
Im already short on this pair but looking at other areas to watch 'IF' the current candle closes below the orange line a valid double top could form and if we see a candle close below the pink line further downside. Now we are in/close to the oversold area on several of the time frames. All in my opinion of course
USDCAD targets 1.285. Good Luck!
AUSNZD broke the upward trend and the support level as well.
This is an ascending triangle but given the split opinion in the market over the future direction of gold (some people are majorly bullish, others are majorly bearish, one week the global markets excel, the next they are doing poorly) I would trade based on both a break above or a break below. Look for a close above or below the support/resistance. If it breaks...