If weekly candle rejects key daily support of 1.81000 formed by our previous swing low with a Doji candle suggesting indecisive behaviour.It is likely that price could reverse if the price breaks the trendline with a bullish engulfing candle, targets of 1.85000 being a psychological level also in confluence with 61.8% fib level. More importantly, key fundamentals...
DXY showed bearish dominance towards the end of last week due to declining NFP results, which led the price to test a key external trendline, however, if the weekly candle closes above the trendline and sustains this level it's likely that price could make a correction towards the anticipated price region of 97.30-97.60 which is supported by the fib level of 50%...
Terrible long entry by T.I, proprietary forex trading desk. LONG entry laddering down from 1.30 ish to 1.27. priceaction incredibly bearish! loss of short term attempt of daily uptrend change on may 9! with setting a lower low ON THE DAILY. daily couldn't even set a second HL.so weak. possible reversal candle on may 10th. bearish engulfing on may 11th. stuck...
We see an ascending wedge on the 4-hour chart. Also, find it at a strong resistant area. We will short this pair at the opening of the markets at UTC +2 and hold till support area 1.67704. It will give us 300+ pips.
AUDCAD hits the first confirmation onto the demand zone. The First bearish candle to hit our key zone is around 5/13/19 and the low before the reversal is set at 0.093542 on the minor demand levels before jumping out the zone. This will be a break shorting oppotunity at the next major demand level since price hasn't been back around this aera since the end of...
The bullish three line strike reversal pattern carves out three black candles within a downtrend. Each bar posts a lower low and closes near the intrabar low. The fourth bar opens even lower but reverses in a wide-range outside bar that closes above the high of the first candle in the series. The opening print also marks the low of the fourth bar. According to...
Hi everyone, I'm looking for a nice sell opportunity in EA for some reasons: - If we see weekly chart, you can see that there are a lot of rejection from 1.5850(we didn't close for one month above that level) - if we see daily chart, in 5 March we made new lows, and March 18 we spiked on that level (sort of double top) before going down. - Today we can see clearly...
If we zoom out weekly and daily - we can see that we have that rejection from aug 21 of 2018 from 1.14500 Today if we look daily we can se that we had an aggresive move to the upside, we had some sort of retracement but could'nt break that level, and that indicates a double top. My target is 1.13100 which is a strong support for the pair - then if we break below -...
im not one to trade candlesticks but when 2 signs that can push this down are blatantly showing its hard to ignore..but the bulls still dont want to give up.. I will be eyeing this for the downside if it happens.. id be inclined to go long but its against my strategy so going to be patient and sit it out until/if it goes down.
Constructive criticism welcome as I'm still learning. Top Down Analysis Daily: Rejection of daily support 1.1200 with 3pin pattern / bullish pin bar
CONSTRUCTIVE CRITICISM WELCOME. Top down analysis: Daily - Price strongly rejected daily resistance level 76.50 with many spikes above, now falling Weekly - Rejection of 78.6% fib level
Confluences as annotated. I usually only target up to the -27% fib extension, but on the daily time frame we are within the third swing of the uptrend. The -27% fib extension target for the current daily swing is beyond the pink level of resistance, so extended my target in line with the daily trend.
In USDPLN we have a nice bullish setup on the weekly charts with a bullish inside bar / pin bar fake-out that has formed off of the bottom of a rising triangle. There have been numerous attempts to break out of this rising triangle, with a number of the attempts producing bearish pin bars which saw price drop immediately lower. Even so, price has continued to...
$ USDTRY $ Looks like we are back to Jul - Aug 2018
An inside bar / pin bar fake out pattern has formed on the XLE weekly chart. This pattern has formed just below a key resistance level as well as the 50% retracement of the last swing high/low, which is exactly the area we want to see this form. One negative with this setup is that price has formed a very sharp v-shaped reversal off it's lows. That doesn't mean...
The AUDUSD has formed a bearish pin bar setup that is very similar to the NZDUSD. The big difference is the bigger price action picture. The AUDUSD is the weaker of the two, and may end up providing more downside if price breaks down in a major way, but I think both charts have attractive setups worth considering.