NZDUSD has been very choppy the last year and a half but it has slowly ascended within a wide channel formation. The pair had a very strong bearish move after yesterdays interest rate hike but it is yet to approach the bottom support of the ascending channel. I am looking for a brake of the channel and if it's broken I would go short @ 0.69876. My first target...
A Double bottom right along the 61.8% Fibonacci level has me thinking of a long opportunity. It's previous support, the ADX is crossing the DMI- and the RSI is leaving very oversold conditions. I see this as a classic 61.8 - 38.2 fib play. 2:1 RR
Looking to continue the downtrend, 23.6% FIB is shown as a resistance for the pair, a break of that point sends it to the 38.2% FIB to test those levels.
Stop loss is 8 pips above top (~121.650) take profit is the 50% fib at 120.090
Waiting to see the right side of price action on this pair at the 1.51000 zone as an area for bullish evidence and if is see that right side of bullish evidence i expect a move all the way up to 1.54000 zone as a management point.
GBP/JPY has formed a head and shoulder pattern on the 1H and 4H charts, indicating that a top has been made and price will carry on its retrace from the last 2 weeks of bullish gains. Traders should wait for a breakout of the pennant/flag that contains this pattern. Wednesday - (Jul) Manufacturing Production, BoE Gov Mark Carney Speaks and BoE reports on current...
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USD/JPY has formed a head and shoulder pattern on the 1H and 4H charts, indicating that a top has been made and price will carry on its retrace from the last week of bullish gains. Traders should wait for a breakout of the support zone as price tested for support 02/09 12:00 (GMT+1) We have a supply zone above price and a demand zone from 102.37 -101.72. Expect...
Hey guys, I closed my trade because, It is overbought and I expect a pullback and then uptrend continuation
Short NZDUD @ 0.71725 Lets see if we can hit Targets!
AUDNZD looks to be in a downward wedging pattern, at the completion of which i will be looking for a bullish breakout, however, in the mean time, a bearish 1-2-3-4-5 sequence looks to be taking shape. Wave 4 has set up nicely here in the form of an elliot wave triangle meeting all the rule requirements. This is an opportune time to open a short position here at...
The pair has broken a strong trend line which has held since May 2015 , price has now retested this and bearish momentum can be seen to be resuming. Waiting for daily close for entry for shorts to Target 1
TRADE TYPE: SWING Although GBPUSD has been bearish over the long-term, recently it has been extremely bullish, consistently making higher-highs and higher-lows. This could be part due to the fact that we are bouncing off of LONG-TERM support at weekly and monthly lows. Regardless, with today's news between the ECB and U.S. Jobless Claims price action has...
REMEBER THAT WHEN PRICE TOUCH A RESISTANCE TO MANY TIMES, THE RESISTANCE BECOME WEAKER. SO, IF PRICE BREAK THAT LEVEL, THERE WILL BE A GOOD LONG. LETS WAIT TO SEE WHATS HAPPEN. KEEP AN EYE ON THIS LEVEL WHAT DO YOU THINK?
as you can see i am short since the last top. The pair have been bullish since 4 years ago. not because of the strength of the NZD but for the weakness of the CAD. you can see the pair didnt make a high higher so the up trend is getting weak. Theres is a posible formation of a double top pattern. Any ways the price should go to the trend line. is a good trade,...