First of all, head and shoulders is a reversing trend formation!
Second, there are two types of formations - Head and Shoulders and Reverse Head and Shoulders!
Head and Shoulders may be at the end of an uptrend, while Reverse Head and Shoulders may be at the end of downtrend!
As i mentioned, H&Sh is reversing trend formation! So if we talk about uptrend, we have...
AUDJPY Short Idea
Price action has been primarily bearish on higher time-frames and we will continue to look for potential short entries
Current price action is at key daily resistance around 74.500 as well as the daily 61.8% fib level
Ideally we would like to see a strong bearish signal at this level before targeting lower. A bearish engulfing or evening...
The currency pair EURJPY is in downtrend form many days,
the reason is partly because of the drop in the EUR and a rise in JPY.
Now we see 4 resistance from downtrend, horizontal level, fibo and so on.
But also there is forming a new trend in the border of old one!
We see a bottom around 116.00, after that the price forming a top around 119,70,
The next bottom...
GBPAUD Long Idea
Price action has been bullish since mid July so we will stick with the trend until we see Higher Lows being broken on the larger time-frame trends
Current price action has swiftly broken through key resistance last week due to positive gbp news so we will look to enter on a retest of that resistance now turned support which will also line up...
EJ Short Idea
Price action has been majorly bearish on the daily and weekly timeframes and we are waiting for a confirmed reversal around one of our prz level. Currently price is at the 50% weekly fib but we would ideally like to see the 61.8% fib level hit and rejected
Our target will be the monthly support level around 116.000 followed by the -27% fib level...
AUDUSD has make its correction around 0.6810.
At these levels the price met seriously resistance from:
1. 61,8 Fibo from H4 downtrend;
2. 38,2 Fibo from daily chart (19.07.2019 - 01.10.2019);
3. Daily trendline;
4. Horizontal resistance line.
AUDUSD Short Idea
Price action for AU has been majorly bearish on larger time-frames so we will look to short in favor of the trend
Current price action has rejected the 50% fib level & key resistance around 0.688 the current pattern looks a lot like a head & shoulders pattern as well
Upon enough confirmation we will look to short and target the monthly support...
I like this set up for multiple reasons.
My confluences are :
Bearish structure has been broken
62% on Monthly fib
70% on weekly fib
Red box = Mitigation zone on smaller time frame.
Discounted price for a buy
Above price currently there are more areas of liquidity and imbalance to feel which grows my confidence in believing this to be a high...
NZDCAD Short Idea
Price action on the daily and weekly time-frames have been majorly bullish but have yet to form structure after this extended push to the downside
According to our rules we would like to see price action come up to the 38.2% fib level at least before continuing. Ideally a push to our weekly resistance and 38.2% around 0.85000 would be...
Like I Will Always Say... Looking At The Bigger Picture Is Key..!!!
For All Those Following My Projections Since This Month Started...You Can All See How EURUSD Rolled Out Smoothly As Projected...
Now The Question Is Will Go As For As Hit Our Support Below @ 1.09260.?
If We Have A Pullback...It Should Run Up To 1.10769 Resistance Before Dropping Back Down......
The Eurozone has been struggling pretty much all summer as a basket for trading and has given plenty of of opportunities to SELL its weakness. This is the 3rd ABCD swing that it has made and from there it created a upward channel. The idea was to SELL once it broke and retested the support or to sell it at a high price at the resistance. At this point the market...
The USDCHF has broken an ascending triangle and has been bearish since then, early on Sunday the market gapped down and with the G7 talks the price ended up bouncing to the upside taking causing me to take profit. Since then there has been a triangle that has formed on the 2hr and 15 min and the Stoch has hit the .618 retracement on each chart. The Market is...
Looking at the higher time frames, price has failed to break resistance at 1.3340 and the 78.6% Fibonacci level and we can see price was becoming increasingly squeezed waiting for the breakout. We saw price had in fact closed below the 4 Hour 50ema on several occasions before driving back into the resistance zone (creating a quadruple top!) so patience’s has been...
8/18 CTL Break SELL to .6817 Stop Above .6870 Target .6560 As long as the market stays below the resistance at .6817 this will be a solid risk reward position the sell. As discussed on #PLANYOURTRADETV
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8/18 looking for a PEP sell targeting the 1.18300 support low with the stop above the 1.2250 area at 1.2550 I would like for the Bulls to test the 1.2180 area again for a high price.
If you agree PUNCH the LIKE button and UPPERCUT to FOLLOW button. Here at Carter Kyle Capital we are the Fighters of Financial Freedom helping 1 trader at a time.
What are YOU...
This is a pair that I discussed on #planyourtradetv on Youtube that you can view on Sunday's at 4pm here is a link from that live stream so you can get the full analysis here at youtu.be if you like the analysis subscribe and drop a like.
To break it down: The EURUSD is on a downtrend in the monthly It recently broke a head and shoulders...
EURNZD has given a second chance to get into this position on the daily previously the market retraced to the .500 level which long term take profit level at 1.5900 at this point today that is 1200 pips away. The origninal stop os 1.7350 which 50 pips above a major monthly and weekly resistance that is 200 pips away. The risk reward ratio on this movement to me is...