A little bit late to the party as price has already pushed up passed my desired entry. However for me to still consider this a trade to take, price would have to retrace back down slightly to a more favoured entry to benefit my risk to reward ratio. In addition, if I were to enter toady it would likely be on one of the lower time frames, but if I were to enter on...
FX:AUDUSD is showing overbought on the Stoch and the Bollinger Bands, and has touched the daily and weekly supply levels twice. Good reward:risk ratios. 2:1 for TP1 and 4:1 trade for TP2.
The price in the AUDUSD is inside a triangle pattern, and whatever be the direction that the price is going to go, the oportunity to trade this pair is huge because the position where the price is.
For the risky traders, to buy this pair it's recommended to wait until the price get close to the A-C line, just below the 144...
DJY is about to break to the upside, unless a deeper correction starts.
Buy after break of consolidation
This might be the beginning of a 1-5 impulse to the upside, if it is not the correction may last longer for an ABCDE
or as part of a larger correction to the downside.
Short-Term Daily Look for a break to the upside to buy.
NZDUSD has been in a downtrend on the Daily chart for a very long time. We may be in the middle of another retracement giving us a great opportunity short into strength. This will be a Huge trade and would require a 350 Pip Stoploss. But the Reward is over 1,200 Pips. This is an excellent opportunity for a Position Trader as it will take months to play out.
Every time the S&P has made a Balance area at it's all time highs it has sold off hard.
We just broke the most recent balance area to the downside again.. Looking for a bear run for quite some time. I fully expect market to revisit 1850's again, just given previous patterns.
Best of Luck
Australia dollar is starting to retrace its gains after flirting with 0.750 resistance. A bearish close today below 0.745 could see the declines extending back to the price zone of 0.73 - 0.725. Establishing support here could pave way for a new leg in the rally back to 0.745 and eventually to 0.76.
The RBNZ did not cut rates yesterday and did not jawbone the Kiwi's exchange rate. The resistance at 0.70 has now been breached convincingly and any dips to 0.70 could remain a buy, if validated by price. To the upside next level of interest is 0.72, July 10, 2015 high. But looking the Stochastics here, there is a strong hidden bearish divergence which signals to...
After briefly testing sub 1200 levels last week, Gold quickly reversed its losses after Friday's NFP report. Monday/Tuesday was relatively flat but today's price action showing some early gains. Above 1248.55, 1260 remains the next key level to target.
But a pullback/correction is missing
To the downside, 1230 - 1220 levels could act as support. Forming a third...
After rallying strong on last Friday's NFP print, EURUSD has remained flat on Monday/Tuesday, forming an inside bar at the top end of the rally. A breakout is therefore likely to set the direction in the near term.
To the upside, 1.140 is the key level to watch, a break higher could extend gains above 1.140 but keep prices range bound below 1.15.
After a major reversal on the weekly unfolding in a nice impulsive move upwards on the daily chart, a divergence showed up in the daily Gold chart, sending prices down over the past few weeks. They have dropped below the balance zone and took Momentum below 0, indicating a major correction. Now a new buy fractal signal has been formed. If it's hit, it could be a...
Support and Resistance zones for NZDJPY with Fibonacci levels to keep an eye on. Price has recently bounced lower from the 50% Fibonacci level, with price currently experiencing a small bounce on the edge of a key monthly support zone.
This is just a outlook for the EURJPY over the next couple of months. I'm more of a swing/day trader and focus mainly on the 5/15/60min charts. However, I do zoom out to the Daily everyday & the Weekly & Monthly once a week. It's good to see where the underlying trend is so you know which side you want to be more aggressive on at KEY levels.
Right now, BIGGER...
Above is a daily chart of the S&P since the beginning of its apogee phase.
Still short the S&P for next few days. Based on Fib time zones analysis and the current trend pattern we may hit 1863 on Monday then rebound or a more violent move down to 1803 on Monday (Feb 29) then a rebound.
Two Fib time zone patterns starting from the same low date of Oct 15 2014...