New pair on the analysis page! We've seen a long term uptrend on the pair. Price currently trading in a range with price failing to make new highs (aside from the fakeout). Will see more bears enter the market during next week. Many AUD pairs at the top of their respective ranges including AUD/JPY - see our previous analysis on the pair! Happy Trading!...
Fake breakout is when the price temporarily moves above or below a key level of support or resistance, but then later retreats back to the same country as it started. This is the worst case scenario for a breakout trader who enters a trade immediately after a price breakout.
Quite a few Signposts on my chart as I've been monitoring this pair for quite a while. 81.7 was a structural resistance, which we'er seeing that it's no longer holding. Quite a few sellers were recently trapped, which is a good sign that we probabilistically can expect further upside. [ Note that ideas published represent my viewpoints on structural...
The market is due for a correction, but the market never does what we want we want it, they only do it when we are not expecting. Ignoring that, looking at the chart appears to simply be a bull pennant. Break above the pennant, we will test highs and above that should trade to $395. Break below $377 and we should be heading towards $365. Time frame: either should...
AUDCHF is in a sort of rectangle, the price seemed to have broken it on 31st of December but, pay attention, the volumes are very low and the rsi has created a DIVERGENCE, so I think that we are having a fake breakout, there are good chances for a drop towards the 200-day moving average (highlighted in green). The trade has a good risk reward ratio: 1:2.67. It...
EURJPY continues the range Since the beginning of December, EURJPY has entered a sideways movement and is moving in the range of 100 pips. A few days ago we saw a break, but very quickly the price came back. The direction will become clear only after a definite break and test, but for those who are looking for an earlier entry and a much better risk-return...
Standard fakeout trade opportunity. Price briefly crosses above the 0.9110 level and fails to hold above. After seeing price fail to close higher for one 4-hour session, good timing to optimize entry. [ Note that ideas published represent my viewpoints on structural directional movements. I do not post explicit trade parameters (i.e. entry, take...
Still a few hours away from daily close, but the similarities with the mid-August fakeout are interesting. a) breakout volume with ~3 hours until close is not exceptional at all (2, 5); b) RSI is on its way to confirm another bearish divergence (3, 6). In my mind: - losing $20,000 tomorrow would confirm a fakeout and I'd expect sell volume to pick-up; - staying...
Price made a perfect double top as a fake out of trendline and break it with perfect candle gives us good signal for sell to lower levels on gold. R/R 1:11 . . . . a little risky because down trend is not confirmed yet use risk management . . . . If you liked the idea click like and follow to see more upcoming updates. I'll be glad to know your opinion in the...
Okay, So again I would like to emphasis here that, If you all are thinking this is breakout , NO IT IS NOT!!!! Volume on spy today was less than yesterday's volume that means dead cat bounce. Also comparing RSI with previous high and with such a move in day didn't gained much that means there was fight beat sellers and buyers. Market on close was in Imbalance on...
hello traders, this is what I see from the consolidation.
Could see a bullish move into a large bearish push on UJ for a downtrend continuation. Should see a large fakeout just after ATR n volume has drop significantly in the upward direction with a large spike in volume and atr after the move. Dont get caught in this move as this is the trap that is due to turn an accumulate liquidity in the market for a bearish push.
if you missed the 1st sell opportunity it can be the best time for selling gold because of combination of the news and technical signals
Just when you thought this was another fakeout, the market gives you the fake fakeout. :) Sometimes we see stronger moves after a double fake like this. Bulls will want to see a close near the high for today's candle. A probable higher high after that (>.012).
We have the greed index backing of 90 and at 86 currently, with BTC appearing to breakout. Again, it could be a fake out as BTC often follows other markets and the DJI looks confused. Should the Macro find negative momentum, I suspect BTC could too. If we show a sign of decoupling then God willing so be it! A sustained break up should hit $17k. If we can't push up...
waiting to see if we get a break and retest to go short, or a bounce to go long.