Waiting for price to break above this key swap level, our support turns into resistance. Breaking above this resistance would give us a good reason to execute ourselves in the market. Structure / Trend / Candlestick Reading,
Price Action (Technical Analysis): The past week we saw this pair break above very respected highs, key resistance turning into support. Dropping into the Hourly-30Min time frame we see a potential Cypher Pattern forming, Price is pulling back into previous structure telling us to go long and our 200-100 Day EMA's are snapping at our ideal area of entry. Look for...
Price Action (Technical Analysis): Top-Down Analysis is showing us that Price is continuously pressing up and respecting our Weekly Resistance. Speculating the Weekly Rising Wedge tells us that price is Coming to a Squeeze and we Expect Sellers to come in, Break this pattern, giving us a very good idea to go in short with good candle stick readings at Key...
I have been waiting for this setup for quite some time and posted this analysis a while ago. On the daily time frame we have a 5 wave corrective structure that broke to the downside. We then saw a smaller structure form below that and we are now seeing a break of the smaller structure. This indicates that the short break is valid. I am waiting for my entry...
We can see the formation of a 5 wave corrective structure on the daily time frame which has broken to the downside. There is a smaller structure which has formed below the daily structure. A break of the smaller structure should indicate the continuation of price movement to the downside.
The 3 Take Profit levels are indicated using Fib retracement targets.
EURAUD at the halfway... still undecided. I didn't calculate it as usual because I'm too tired, but I would like to go down on this pair.
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Here I have identified an opportunity to secure a great low long position on this pair. I forecast a rebound in the Euro Zone o finish out the week and set a new trend for the remainder of the quarter. My stop loss and entry is there but the target is set with a long term vision. But you can place a Target #1 at 1.52200
1. Based on the last 16yrs of daily close data (since 01/01/2000 to date) EURAUD has a cumulative probability of a =>6th day lower at 0.87%, hence there is a implied 99.13% chance of reversal on the daily.
1. Buy EURAUD at market in 1xlot, and add 2x on each daily close lower from here. Start in VERY small lots to reduce risk and...