Let's see if the price complete Gartley pattern projection (blue) on H4 chart. Wait for bull divergence + reversal bar pattern inside PRZ (use H1 chart if is necessary)
Because the lack of bearish divergence + reversal bar pattern when the price completed the harmonic pattern, and now the presence of a bull divergence, I consider that the price is going to retest resistance at 0.7900 and remains the bearish shark pattern valid. With the help of the bullish ABCD pattern, a buy setup could be triggered if a reversal bar pattern...
Let's see if the pattern on H4 chart (blue) complete. Wait for bull divergence + reversal bar pattern inside PRZ
A nice correlation trade between GBPJPY and USDJPY is forming. The two pairs are currently trading with a spread of 550 Pips, the widest spread since the end of January. Our algorithm is giving a 79% chance of GBPJPY coming in and a 74% chance of USDJPY rising. With that said we will be going Short GBPJPY at market and Long USDJPY at market. NO STOP will be...
Reasons for -Firstly we broke a key bearish trend line not to long ago -As we can see from the MacD we have been making high swings as well confirmed with Price action -This helps me believe that we will continue to see bullish momentum -We Bounced of key level of support at 125 -We got a perfect swing point after the bounce on 125 -Also perfect bullish...
There could be a good long setup if there is a clear breakout of the wedge. Alternatively a potential short setup could be appropriate on a test of the upper trend line, with confirmation on a clear bounce lower. Let me know your thoughts, Happy Trading :)
Enter at 8.24016. SL and TP based on structural levels and Fibonacci levels.
Waiting for: - Bullish divergence, and - Reversal bar pattern inside PRZ
The ECB news resulted in a large drop in this pair, which resulted in the formation of a cypher pattern. I hope for a relief rally that will bring the pair into my target.
Stop loss based on the nice piece of structure before the start of the pattern. EMA and MA also signify a further move to the downside which will hopefully form the bat pattern. Very good risk/reward on this one.
If this happen, I hope the impulse complete the bearish pattern on D1 chart and then start looking for short position (same for AUD and CAD). Wait for: - Bullish divergence, and - Reversal bar pattern inside PRZ
This pair is about to get down, but still has pressure from OIL price. This could be the last uptrend impulse... Waiting for reversal bar pattern inside PRZ
Pair almost complete bearish pattern on D1 chart. Meanwhile, a buy setup emerges on H1 chart… Bull divergence is present and just waiting for reversal bar pattern inside PRZ box.
6 perfect hit points on both support and resistance for this ascending triangle. I will buy a break to the upside, with profit targets based on previous structure support. I define a break here as a close above the resistance (although this does change slightly from chart to chart, depending on a number of factors). Zoom out to view more profit targets from...
Upside to stay in focus following recovery from the 1.08260 low last week though strong resistance at the 1.10460 and 1.10680 area keeping gains in check for now. Clearance needed of the latter to trigger stronger recovery to retrace recent steep drop from the 1.13760 high. Support now at 1.09400 then the 1.09000 level. Here at Unique Forex we pride ourselves...
This pair is threatening further downside pressure as it ended last week giving back all the gain from the previous week. Sitting on a short-term uptrend line as the RSI and Awesome Oscillator diverge from the pairs uptrend over the past 5 weeks. A break of support at 0.77000 leaves room to run down to 0.76000 - 0.75500. We will be giving price action some room...
Symmetrical triangle has been forming on the AUDNZD pair for 3 months now. 5 strong hit points . Look for a break to the upside at hit point 6 or a break to the downside at hit point 7 after hit 6. Profit targets are clearly indicated by green lines and are based on previous structure. The top profit target is unlikely but very hopeful if we get a break...