-Break and retest on 1H; -Rising Wedge on 4H.
Following the brief sell off the week before, sellers dipped their toes towards 1.2000 and failed Buyers spent all last week slowly pushing though and break through two levels (marked Resistance Level 1 and 2 on the chart). Seasonal wise, we have approached a point where the weighted and all-time seasonal trends diverge Given how oversold GBP is on all the...
Buyers made a break for it early last week following a period of consolidation Looking across the major charts, the move up is more to do with EUR weakness rather than dollar strength Expect a continuation to the upside with the EURUSD and possibly USDCHF charts as the best ways to buy dollar Should price break the August Swing High then look to target the Monthly R1 Pivot
Price tests the support zone and looks like it's going to form a pin bar. If price does remain above support, it would confirm my prediction that price will form a H&S pattern. On the 1H chart, we can see the H&S more clearly the previous test showed a bullish engulfing candle and on the current test of support we see another candlestick pattern on the...
So we have a simple: -break of upward channel -Market exhaustion -Momentum change -Bearish Divergence Let's see what happens..
This entire time I've been trading, I've done my own analysis, I've bagged bare £'s, but if you go to my previous analysis's, bmt I'm talking like some next articulated professional don. I trade from my bedroom not for some bank, my analysis is simple and should be easy to read and understand. It's kinda mad now because I have the mindset of a trader, I tend to...
Looking to make a measured move down to join support.
-Expanding wedge. -Test of psychological support.
I assume based on Dows failure to rally, perhaps this is a sign that market wants to turn around At each test of resistance, after dropping more than 500 points, the market has continued to push bearish as well as the Divergence also validating the direction.
Hello all - DuncanForex here with another trade idea Although GBP is weak at present, I can see some strength tomorrow whilst USDJPY pullsback - I have entered, however you could place a buy stop at the 1.2138 area With it cycling higher on the 30m chart - keeping in mind the overall trend is down If 1.2175 is broken we will certainly be in a short term up...
We've got a bit of a strange one here today... EUR/CAD is shaping up for a near textbook bullish divergence pattern AND it's sitting on a long established S/R zone (defined by my S/R algo - see the Related Ideas). Why is that strange? Well, basically because EUR is so weak at the moment. It's just broken multi-year lows, so unless that's a false breakout...
I believe price will either test 108.700 area before continuing bearish as not only momentum decreased approaching weekly resistance but also the retracements became larger suggesting reversal or price will break support. In addition to this, it could be a potential Right shoulder forming on the 108.7 zone which would also suggest bearish moves taking place.
Hello all - DuncanForex here with another trade idea With USD starting to realise weakness across the board EURUSD has flow higher Whilst GBPUSD has continued sideways due to GBP weakness EURUSD is doing well and continuation entries have supported this driving higher today. XAUUSD is a winner if you are in it (I'm not due to an overnight retracement...
Rounded Bottom followed by a test of support.
Contrary to my previous long idea for gbpusd, as the impulse down outweighs any signs of pushes to the upside. I believe it's more likely to see a bearish continuation as price seems to lock into this restricted pennant. This would suggest price is exhausting before continuing.
If price breaks resistance, we'll be looking to go long.
Hello all - DuncanForex here with another trade idea With EURJPY flying higher this afternoon on it's second leg higher. ALl JPY pairs want to head higher, however GBP is weighed down by more and more Brexit short term news. They key is to get in when positive GBP news comes out as it will fly higher to catch up with all the other Yen pairs. THere is...