We're seeing price test a major overlap resistance along with a 38.2% Fibonacci retracement. A reversal from here could potentially see prices drop all the way down to our overlap support.
In terms of potential stop loss levels, we're placing it slightly above te 50% Fibonacci retracement to give it a bit of breathing space.
Please be advised that the...
Hey Everyone,
We got our first target on our 4H chart idea at 1922, which is our resistant structure. As stated on our chart, we need to see EMA5 cross and lock above 1922 to open the upper levels. We also advised that If we see this area resist, we will possibly see movement into the retracement range. EMA5 has now failed to cross 1922, followed with the...
Hey Everyone,
This is the weekly chart we have been tracking and following for our long-term targets.
Previously we hit our 1858 target, which we identified with our analysis and setups and we also advised that we had a new long range target at 1928 and then 1986. This was confirmed with candle body close only, which is also playing out perfectly. The move up...
GBPJPY | How Can You Trade The Bearish Wave?
In the 4-hour chart, the price is showing
a very strong resistance zone located between 163.50 - 163.90
On the 60-minute chart, we have a possible head and shoulders pattern.
We have to wait until the price drops below the neckline
pattern and after that the price has higher chance to move lower and reach our...
Prices are on bullish momentum and abiding to an ascending trendline. We see the potential for a bounce from our buy entry at 155.860 in line with 61.8% Fibonacci retracement, 78.6% Fibonacci extension and ascending trendline support towards our Take Profit at 156.959 in line with 127.2% Fibonacci extension and 78.6% Fibonacci retracement. Our bullish bias is...
NZDUSD is trending to the downside today prior to the USD Initial Jobless Claims data, which measures the number of people applying for unemployment benefits for the first time. Technically the pair has broken to the downside of the support trendline, and has bow formed a resistance trendline.
AUDJPY dropped nicely and is likely to bounce from 1st support, where the graphical overlap, 61.8% fib retracement, 127% fib extension are. Potential target could be at graphical swing high is. Stochastics also shows a bullish momentum is building.
Sell below 1.0915.
Stop loss at 1.0944.
Take profit at 1.0857.
Reason for the trading strategy (technically):
AUDNZD reversed off its resistance at 1.0915 (61.8% Fibonacci extension, 76.4% & 50% & 50% Fibonacci retracement) where it is expected to drop further to its support at 1.0857 (100% Fibonacci extension, horizontal swing low support).
Stochastic (34, 5,...
