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...
$MU completed the (inverted) right shoulder. If the pattern completes with a break and close above the neckline, look for an upside of about 2.20 and a price target of about 14.10.
Pay attention to the trade invalidation zone *DISCLAIMER: Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any...
Slightly overrun cypher pattern, but still enter the trade as this only makes a better risk/reward ! There is a level of resistance that has hopefully been hit, as indicated on the black line. Fundamentals If this cypher works out then it will be based on a relief rally after the awful data from the ECB.
Wait for retracement to buy the dip USDJPY
Saw a spike to 111.04 low ahead of rebound to regain 112.00 level. The long lower wick suggest recent decline is stalling and a correction to retrace the recent sharp selloff from the 114.87 high now in focus. Lift over 112.310 will see stronger recovery to 112.80 then 113.38 to 113.60 area. Here at Unique Forex we combine our team's 40+ years of trading...
The ratio of long to short positions in the USDJPY stands at 2.22 as 69% of traders are long according to a survey of retail traders at several brokers. Yesterday the ratio was 2.21; 69% of open positions were long. Long positions are 4.3% higher than yesterday and 5.8% above levels seen last week. We use these statistics as a contrarian indicator to price...