As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=0.7245.
But the short term forecast is range bound, so we expect to reach the following targets:
Set the stoploss of these orders at breakout of R2=0.726.
Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of ...
AUDUSD is approaching our first support at 0.7163 (horizontal overlap support, 61.8% Fibonacci retracement ) where a strong bounce might occur above this level pushing price up to our major resistance at 0.7217 (23.6% Fibonacci retracement, 100% Fibonacci extension).
Stochastic (89,5,3) is also approaching support and we might see a corresponding bounce in ...
USDCAD bounced nicely off its support at 1.3332(100% Fibonacci extension, 50% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 1.3385 (61.8% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) is bounced off its support at 1.5% where a corresponding rise could occur.
The currently high volatility in the cryptosector makes intraday trading interesting. In my opinion, this is a falling wedge, although it is currently too early to start a long trade.
Therefore, I try to find a good entry for a short position in the area marked in red -> appropriate time frame for entry: 15min.
Updates follow - good luck!
AUDUSD has been in a consolidation, breaks to the up and downside have failed, its been forming a bear flag....at this point I'm waiting for a break out move and sell the retest, standing aside for now until the picture clears up.
Price will make a decision in this area. Watch around 3000 USD or a little bit lower for entry as the price probably seek a little bit lower to make a "false-breakout"
All and all, happy trading, manage your risk wisely
Trade At Your Own Risk
I see Bitcoin bouncing off the 4hour Sequential 9 that is coming and It should have a run up to either to the breakdown of $3300 or as High as $3400 to squeeze out some shorts. Be careful in trading this bounce, 9's don't always bring upside in bearish postures such as this so we may not get much of a bounce at all.Following this possible 1-4 candle bounce (4-16 ...
- DXY looks to be forming a H + S bearish pattern
- Neckline of this pattern is found @ ~ 96.88
- If this level were to be broken to the downside, this would open up the doors to further moves lower
THIS IS NOT TRADE ADVICE NOR A TRADE CALL
When trading with Pitchforks, you learn a couple of rules you can lean on. For example: if price breaks outside of a Pitchfork (above or below one of it's lines), it has a high tendency to come back. Sometimes once, twice or even multiple times.
This rule is not by accident.
And this rule is applicable even to horizontal lines. It is just what it is. It happens ...
This is a super nice short entry on CAD/JPY .
We have a strong confluence of :
- FIB 61.8 + Resistance zone
- Breakout & Retest of Daily parallel channel .
- Strong bearish momentum
- Nice trendline confluance
- SL protected by : STD Deviation, Fib, Bearish channel .
- Overbought @ 85% - Rejection confirmed
Good luck to All !
It has been a long time I did not post anything, but I short on DXY last year, and long it on the first 6 months this year, but now I am going to turn over to short again, just see the chart
MACD has showed the bearish deviation on D chart, also the trend line has been broken on 4H chart.
Short it until the D chart shows the bullish deviation on D chart.