Key support at 1.3068/52 is holding. A break trough would set a large top USDCAD
USDCAD saw a quieter session yesterday, negating some of the gains from Monday to add weight to the view strength is corrective only ahead of a move back to retest important support from the 38.2% retracement of the 2017/2018 rally and 2019 low at 1.3068/52. Although further ...
The risk has turned lower for a retest of key support at 120.80/78
EURJPY weakness has extended after rejecting important resistance from its June high and 38.2% retracement of the fall from March at 123.35, as well as its 5-day average, removing support at 121.65 to warn of a move back to the lower end of the broader range. Support is seen initially...
Ending the day the price in gold touch the 142.00 zone and as usual we expect volatility in Friday for #Gold. We need to wait the daily closure for confirmation of a bear mommentum. The trade has already a good risk reward ratio but the zone 1310.00 still in play for further downside and good profits.
After the break of the ressistance $1317.19 we go straight to the $1345.00 zone and close the trade around $1342.00.
Now we have to wait if the market has a bull momentum the price can touch $1355.00. But we need a clear break of the $1345.00 zone for expecting new HIGHS. Anyway now its time to wait. Good vibes
In the next 3 candles we could see if the price support the $1320.00 zone (also the blue moving average) for a bull momentum looking for $1345.00 zone or if the price break below the $1320.00 we can have a pullback. But remember we are in a bull trend so stay cautious if you are in short positions.
Also we need a break of $1327.19 (blue choppy resistance) for the...
In the weekly chart we can see how the price close above the counter-trendline after the consolidation below the $1289.90 (Monthly Support) and after touching the inner trendline. So the price is looking for $1260.00 (Wick zone) but we have to stay focus in lower timeframes for any bull confirmation or a minimun pullback to the $1310.00 zone.
In the Monthly Chart the month of May the price respect the $1277.50 support wich are the moving averages and close around $1306.00. Starting this month with a bull momentum looking for $1334.90 (Weekly Ressistance) and if we keep this bull momentum in June the price could rise looking for $1375.00 to $1389.90 (Monthly Ressistance). We have to wait for...
We see price action consolidating into a falling wedge pattern, which is also a reversal patter. Price is at a crucial zone because it is at a major weekly support zone and also at the bottom of the wedge. Therefore, we are predicting a reversal from this zone.
Looking at the 4 hr chart we see the completion of the butterfly pattern. Again, butterfly patterns signal the end of a trend and in this case is a signal to the upside. Our current strategy is to watch price action and take a long position in the green zone.
Decreasing volume with a downtrend (since 2018) is the sign of a trend reversal. Nevertheless playing the current downtrend with a sell trade, until the trend reversal is confirmed, seems more logical.
Please let me know if you have any suggestions or any ideas to add. I can also give you more...
We see the formation and completion of this AB=CD harmonic pattern on the 4 hr chart. Price action has found major support at the completion of this pattern. This AB=CD pattern is a bullish pattern and signaled us to take a long position with a fixed stop at the red zone. We have also set our targets at the green zones. FX:AUDJPY
The pair has completed a harmonic bat pattern on the 4 hour chart which has signaled a move to the upside. We are currently looking for confirmation from price action before we a take a position. OANDA:AUDUSD
We see the formation and completion of this AB=CD harmonic pattern on the 4 hr chart. Price action has also reached a major resistance zone at the completion of this pattern. The completion of this AB=CD pattern signaled us to take a short position with our take profits set on the green zones. OANDA:GBPNZD
We also see the formation of this AB=CD harmonic pattern on the 4 hr chart. This is a pattern that still has strong upside potential which signaled us to take a long position with take profit set on the green zone. We have a neutral outlook on this pair, therefore we are trading this pattern and the previous Gartley pattern we posted as well. FX:EURAUD
AUDUSD-Daily chart price reversed from a daily support zone
and it's showing Divergence on the MACD Which indicates that the down move might be over
price has the potential to move towards the descending trend line and even higher if it broke it,
we will be waiting for a 1hour bullish opportunity.
We are currently trading the 4th leg of the harmonic Bat formation on the 1 hr chart. Price action has recently broke through a resistance level become support and confirming our direction and predicted completion of the 4th leg. OANDA:AUDJPY