USDINR which is currently near the range of 67.60-68, seems now trend is about to change in near future. We see this currency taking a dip till 52.80 and much lower till 38.40 in time to come. Seems USD is gonna be killed across the globe. This currency might take hit for all the globe currency. So be careful in USD long with any pairs.
Reasons for
-Firstly on 4 hour chart we clearly see a down trend which has been broken
-We can also see price has broken major trend line which acted as RES
-Since we made the low of around 1.41000 we have put in Higher highs and lower high
-This signifies a possible new trend forming
-Also if we look at the Trend line acting as Support we have had our...
Reaons for
-Firstly we are forming a triangle
-We have just bounced of the trend line with a bearish engulfing
-Also a bearish hammer has been put in place
-We also tested this area a on Thursday and rejected this zone there fore i believe it will do so again
Price action leaves clue in structure :)
If we go to the daily Timeframe we can see
-Lots of long...
USD/SEK on the daily chart quite an easy one....price has bounced between each strong zone before...its a waiting game...if price goes into either zone we will look to either go long or short...patience is the key here...
Stocks and Gilts rose, but prices for industrial metals and the US dollar retreated after the minutes of the US central bank’s policy meeting were released overnight.
The initial reaction from many traders and economists to the Federal Reserve’s minutes was that a December interest rate hike was now quite possible, but for some – especially the former –...
Will add to longs in buy box and take profits and go short (if setup in the lower time frame) at target 1.405-1.406 !
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Looking to buy the GBPAUD after a correction.
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See all of you...
A confluence of Fibonacci and support line around a harmonic pattern spells a long opportunity. The price may try to reach a Fibonacci level of 127.2% at 85.76 but fail since it is seriously oversold. For those who can't wait for the formation to complete as indicated on the chart, wait for at least 87.5 to break set stop a few pips below 85.76
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...
Daily chart inside a wedge at the moment. Waiting for the break of the wedge to the top. A pullback to the 0.618 Fib will be interesting for us to take the bounce.
On our radar for the following weeks.
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These comments are for information purposes only....
Just like we anticipated the move from yesterday gave us the 60 pips to the top of the channel.
Now, we'll be looking for the square up and continuation to the 1.5400 or the move to the downside once they break the 1.5300 -
Both scenarios are here in the chart. === best trading to you guys...
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IMPORTANT...
Waiting for the completion of the 4th wave and looking at the whole structure – WAITING FOR THE HIGHER PROBABILITY TRADE — ALWAYS.
The structure is telling us they need to do an A-B-C, the question is –Will they do it?
Or are they going to do a complete square up to the 1.53600 THEN give us the sell to the 5th wave.
Let's wait for the higher probability trade....
USDJPY currently at 102.43
We’ll be waiting for the completion of the C wave to the downside (where we have some support at the 102.20-102.30) BEFORE we take the bounce to the top once again.
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IMPORTANT DISCLAIMER:
These comments are for information purposes only. Opinions, market data, and recommendations are...
EURNZD currently @1.5540
Currently inside a wedge and waiting for the direction out of it. Remember tomorrow Wednesday we have some NZDUSD fundie news, so be aware of that before trading.
For both trades, we need confirmation after the break to see the continuation. Make sure to use the 60-min chart to see the correct entry for both LONG and SHORT trades
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...
EURUSD Currently @1.3520 inside a wedge and developing an Inverse Head & Shoulders.
Waiting for a bounce of at least 20-30 pips from the current levels to the 1.3540-60.
Take in consideration we have a past support of 1.3475-85 level, so place your trend lines and take the break (counter trend) once we get the move to the upside.
Get your entry by going to the...
