NZDUSD is trading in a bearish flag pattern nearing the final leg where we expect a breakout to the downside to play out.
USDCHF has been relentless recently in it's conquest upwards. Fortunately, this can't last forever and we have a clear bearish flag pattern formed on the 4h. On break below the flag pattern we are clear to enter into a short trade targeting the trendline beneath.
USDJPY is in an interesting position with no clear future direction. We have identified two patterns: A bearish flag pattern on the daily, and a pennant on the 4hr. Considering the pennant is within the current flag pattern, we place more emphasis on the flag pattern. We expect USDJPY to either break above the current pennant, run to 3, and then drop OR break the...
Gold is currently trading within a bearish flag pattern which may potentially end after the 3rd leg. Thus, we have a potential trade here from 2 to 3, and then the main trade which is from 3 down to the Daily trend. Afterwards there may be an even greater potential flag pattern form before a massive breakout lower.
GBPUSD has just broken out of a bullish flag pattern and is now a prime for a buy trade. Stop loss below the Daily trendline and Take Profits at key resistance levels.
EURAUD is nearing the bottom of it's trendline on the Daily offering a potential breakout upwards. If price can break the local trendline, we expect a test of the 200 MA. Stop loss would be just below the Daily trendline. If instead the Daily trendline breaks lower, we have a short trade towards next support.
USDCAD has bounced down from the Daily trendline and is looking to head lower. Upon breaking the local uptrend, USDCAD may drop on it's 5th leg and even breakout lower from it's current flag pattern, providing a MASSIVE short opportunity. If you are to take the trade early, you should use a stop loss just above the Daily trendline. We await confirmation of a...
AUDUSD is gearing up for a massive sell on the Daily given it's bearish flag pattern. On the 4hr we can see another flag pattern expanding out on the top side, meaning that it may have over-run and the bottom is set to break. We expect price to find resistance very soon before breaking lower towards the bottom of the Daily flag pattern, where we will then reassess.
JONE finally held strong over the breakout into the close on Friday. Will watch to see if this can have continued momentum above the breakout tomorrow.
EURUSD has just broken lower from a flag pattern and it looking to retest the flag. We expect price to consolidate a little before bouncing off the next major support level for a great trade. The overall trade is still Short, but there is a reversal pattern for a quick scalp back into the flag pattern for those brave. Our recommendation is waiting until a new...
We have a nice flag pattern setup on GBPUSD for a trade long on breakout. If the lower trendline breaks instead, we have a short setup towards next support.
Hi, Last week gold has been traded in a tight range between 1250 and 1262 and it closes at 1251.3 (FXCM's feed is the only one which has a closed at 50). In a range, buy the bottom and sell the top. So I will looking to add more long position above 1250$ on Gold with a SL at 1244. Already long at 1246$ (see related ideas below), i will target 1271/72 for early...
Pennant/flag break out to downside on 1 hour. Short for 1.29589
Google has been trending up nicely. If you missed it, what should you do? TRENDING UP, BUT PAUSING - Long and medium term trends: up. - Short-term: high flag consolidation ongoing (same as NASDAQ). - Short-term technical indicators: turning negative? - Would like to see a break/hold above $819 for a continuation of the uptrend. MANY UNCERTAINTIES - Toppish...
CRK just barley broke out today, watching for a long on continuation of the breakout tomorrow. Risk is right on the breakout level so it's a nice risk to reward.
As we can see through price action that price is in correction price also formed a flag pattern hence confirming the downward move. strict stop loss at 169. one should also see for some sport at the support zone which is quite strong.