There's two options to short EURUSD The first one is an aggressive way and it's by using stops above 1,0601. This way, you'll have a good risk to reward ratio in case you're looking for a new low. It's considered aggressive because you can get stopped out but then price could easily turn around and continue lower. In this case, you'll need to look for second...
I am not a professional and don't work in finance. This is a technical analysis of the daily candles. I think in at least the short term you are going to see VERU make a drop. This opinion is only based on the fact that the MACD just crossed over. I originally thought with the green engulfing candle that we may continue the uptrend, but the lack of volume and the...
While EURJPY has a great setup for the coming week, AUDUSD might give us a surprise too, a Bullish Shark Pattern is looking to complete at 0.6865, which enables counter-trend traders for another great trading opportunity. But as mentioned, the Shark Pattern can have as many as three entry zones. Traders need to wait for confirmation signal before engaging the trade.
It seems like EURJPY is 1 of the pair that has a higher chance of trading opportunity as the market move closer to 144.16 which happens to complete the Bearish Shark Pattern. While this is an exciting news, the Shark Pattern can has as much as three entry zone, that is why it is extremely important to wait for a candlestick pattern confirmation before engaging the trade.
The USDJPY has a potential Bullish Gartley Pattern on the 4hourly chart that is completing at 130.76. Although it is early for us to even look at this but this is what I got on USDJPY for now.
This Bullish Bat Pattern could be a counter-trend trading opportunity for counter-trend traders. It is good to take conservative target for the 1st target.
Unlikely we will have any trading opportunity when market open on Monday, at least not with my tested trading opportunity. If you are patient, there is a Bearish Bat Pattern setup on the Daily Chart that is going to complete at 1.1090.
GBPUSD closes above strong support signaling reversal. Price has bounced on the monthly support, RSI bullish divergence on the Daily timeframe, and the fact that the price has closed above the support forming a reversal candlestick on the weekly timeframe, all suggest bullish movement in the coming week. It's recommended to enter on buys at the current support...
As expected, EURUSD has started the pullback after FED It's a clear upside move that we expect to continue towards 1,0700 This is not the right time to sell! The situation is changing quickly and we should spend more time and focus on proper money management. We shouldn't take on more risk than needed.
If price breaks 20,220 I will sell with 1% risk If we break 22,976 I’ll buy with 1% risk for a 3% gain I’m watching price action for these moves the next 24hrs.
Yesterday FED raised the Interest Rates by 0.75% instead of 0.5%. Despite that, our expectations were right and we saw a wick to the downside followed by a move up. It is more likely that this pullback will continue, We are looking at a possible move to 61.8% of the last downside leg, which is 1,0615. The market will confirm our idea once it breaks above...
Price formed very strong bearish reaction to the previous high 1875. It went down, broke and retested 1827 support zone. Previous major low is around 1790 level and its possible to see price dropping to reach it.
The freefall on EURUSD continued yesterday as well. It's possible to see price trying to breakout of the 1,0400 level again. Tomorrow, we have important USD news and we would expect a pullback. Right now, it's probably best not to trade but to wait for better entry levels. There are going to be some big moves during the news and we will be looking for...
The long bull run has rested and does this mean its willing to correct in bears? this week could be potential slide for the jpy so we can expect pull back to a zone to completely take out the lows as exit liquidity entry(when there is valid momentun) at 134.466 possible sell down to 133.526 with sl above at 13.652
The downtrend after ECB continues We also have FED's Interest Rate decision coming out this week as well. Quite often before such an even, we don't see any significant move but price is mainly trading around the same levels. That's what we're probably going to see now. A possible retracement before the next drop.
SPX500 made a higher high 3W chart (As of 6/12/22 10:50pm EST) SPX500 is at a higher low (Last months low: 3810) Also at ~3810: SPX 2yr fib (0.618)= 3814 SPX500 2yr fib (0.618)= 3812 Price action is consistent with a bullish reversal. (TF:3W) Sentiment is record breaking bearish. Most money is short or on the sidelines. A reversal would be high volume...
Head and Shoulders, is my favourite classic trading setup that I never treat lightly. This setup has an RSI Divergence which is a setup that I fancy, what's left will be a candlestick pattern confirmation before engaging in this trade and I could even ride my profit to the Bearish Shark Pattern completion using my upsize trade management.
This ABCD Pattern is special, the completion of this Bullish ABCD Pattern coincides with the 1 on the 4hourly chart and the amazing part is that the starting point is different and the retracement point, Point C is of a different Fibonacci retracement level. That's the part that made it special. I will watch closely on the NZDUSD because when this trade gets...