I'm looking to SHORT USD/JPY shown in the analysis provided. In my opinion this looks pretty solid and follows the current downtrend happening right now.
Lower payrolls would usually send the Yen soaring against the Dollar however the Dollar rallied against the Yen on Friday before a predictable retracement.
The purple dash is a historic yearly resistance level where if price closes above a prolonged bull run is more than possible.
For now a retracement back to prior structure before a continuation of bullish...
1. Stopping volume: The previous bar is a down bar closing at the lows of the bar with high volume, what this means? possible selling, but, look how the next bar respons, high spread bar, closing at or near the highs with greater volume, so, if the previous bar was a weak bar, why the market didnt go down? The next bar is a up bar with not excesive volume, so, it...
We can see that EUR/USD have come up to an order block entry and also a liquidity zone, it is now set for a drop down (short) and we have a couple of order block entries that will allow re-entry and cash out. Liquidity zone is also highlighted and is the area we believe it will come down to.
The forecast for USDX. It has come down and touched previous order block, it now has 2 major order block areas in front of it (north, bullish) and then it will go into liquidity zone before it does another retracement before final climb up to top area where we have another liquidity zone.
I am not a long term trader however it is often good to know the prevailing market bias so that we don't make huge short term projections against the prevailing market bias. When you take a short position in 2016 it would be a good thing to be conservative with your targets as the EURUSD is going up. Once the 1.1059 break happens I see an area of resistance at...
Following my post from yesterday, the market has now come back a little little deeper than where i said it would but it's still a valid long trade in terms of the structure trade i posted yesterday and if you're a pattern trader instead, the market has given you another alternative by forming another gartley pattern which has just completed. I'm still gonna be...
EVENT RISK!
*SCALP STRATEGY FOR EUR/USD BEFORE CONSUMER PRICE INDEX*
'IF LONG'
- needs to brake resistance at 1.1045 for a possible long
- T/P 1.805 ( Resistance Level )
- However will pull out if price action dictates consolidation or uncertainty.
- Watch if price stays within the turquoise consolidation zone
- Look for strong candlesticks
'IF SHORT'
-...
Silver has been rising since last Friday and is near the 19.32 resistance level. The overall trend for this market is still bearish as the price continues to stay below the 200 period moving average. There is a bearish engulfing bar candlestick pattern which could lead the price lower in todays London session. The current support level is at 19.00 and resistance...
EURAUD currently @1.4417 - not doing much yet. Currently inside a big wedge in the 240 min chart and waiting for direction out of it.
But if you look at the EURAUD 60-min chart, we are inside an ascending wedge with a potential 30-35 pips once we break out of it and continuation to the top 1.4460-80 levels.
Both potential trades would be as follow:
LONG ENTRY...
AUDNZD currently @1.0789 giving us a head & shoulder pattern right at the top of our Channel for a potential square up of the move from last week.
Let's wait to see if they will violate the H&S by going higher, If not take the short below the neckline @1.0770 - or even before the break at the current level of 1.0790
ENTRY: SHORT @1.0770 STOP 1.0800 TARGET...
