I have found this pair strongly reject the 123.200 area , close to monthly support , after the heavy upwards momentum we seem to see price staling , however still creating lower lowers and higher lows. My projection is we may see price move all the way down to the 121.400 area we could expect some major buying pressure to occur. Lets see how this plays out.
- Price is forming a Lower Low next to a support area
- Stochastic indicate oversold
- I expect the price to retrace around the price of last minor swing high
- Waiting for the price to retrace toward last minor swing
- Once price bounces back, wait for the price to cross below the newly formed Lower Low
- Entry below support area at 1.30100
- S/L a...
The 2 circles showing are the main lower lows of this bearish trend, you can see the reversal has happened as the pair had seemed overbought. I do believe that the trend will retrace in order to breakdown to a more lower point of the chart. You can see the downtrend has broken the higher lows of the bull market. I believe the next lower low will break beyond the...
There is a lot going on in this chart that lead me to reason that the price is going to move down. We will start off by saying the 4h chart had been bearish for a little while before making a double top on July 11th. We then see the price make a lower low followed by a lower high. We can also see RSI divergence here and back at the double top. We can also note...
1) 0.618 fib level false breakout, strong selling on the daily chart
2) break of structure (green diagonal line) is an indicator that the short is probable.
3) Lower highs, lower lows at support resistance area.
Get in for this short, 1:2.6 RR. Tomorrow there's EUR currency news from Germany, be aware of this.
Good trading all
Looking for more downward movement from EURUSD. expecting it to reach the lows that occurred because of brexit. There has been a hammer candle formed on 1hr time frame and expecting a similar candle with the 4hr. Stop loss above the high of the current trend.
Price has hit a major support area at 101.500. It has been a nice test but It will have to retest it sooner or later.
Looking at the daily price is moving on a nice downtrend. Price hit and rejected the 50 MA numerous attempts confirming it has turned into a dynamic resistance.
There can be either of two areas which can bring price down to...
On the weekly timeframe we see a nice range. Resistance at 1.14500 very nicely. The last candle finished with a wick down signaling strength in bears.
Then looking at the daily chart you see nice LH and LL on a downtrend for more confirmation.
Then looking at the 4H chart lets see where we should look to enter on this trend 1.11000 seems like a reasonable...
On weekly chart you can see there being lower highs made. It is barely making lower lows but its pushing for it.
Price hit the trend-line which is also a major support due to history marked in teal color.
Looking at the daily it is shown to be a nice down trend making LL and LH.
My bias for this week is bearish for the EURAUD. So lets look at the 4H chart to...
As posted in a previous post I am expecting GBP/USD to make new lows with a break of 1.28000. An opportunity is now forming on the hourly to try and hop on the trend a bit earlier with a break of a counter trend line. The 1.3000 level has been rejected 3 times now and a breakout retest continuation of the counter trend line could send us lower. Targets would be at...
On the monthly chart above i have posted key points in previous years where the pound has taken a dive against the dollar. August 2008, the recession hits, the value of the pound drops from nearly 2.00000 to 1.35300 in 6 months. August 2012, the economy enters a double-dip recession after two consecutive quarters of contraction in the economy. Now, late June 2016...
A lower low could signal a break of the consolidation area. The 12 hour candle at this moment clearly shows continued bearish movement. Enter on lower low for a good RR of about 1:4
Good trading all this week!
Google C-Class shares i am bullish over the 6-12m, hence I am buying any 5-10% pull backs from highs.
Goog has been moving sideways but i think it has just started a cycle higher, in which it is about to make a higher low at 715 before moving up again to 750+
715-750 is a 5% move hence i am interesting in buying at this price with reward skewed something 1.5:1...
The bearish trend from last week can continue if there's a break of SR thus confirming the downward channel. Price can move all the way to the next major SR zone at around 1.122 level.
Enter as indicated to get a good 1:3.2 RR ratio trade.
Comments, idea's, let me know below :)
Good trading this week!