FX:AUDCAD is currently in a symmetrical triangle, if the price breaks out to the upside, we are looking to short once it gets to the reversal zone, there we have a 618 fibonacci retracement plus a 1.272 extension in confluence with a very nice Supply/Demand Structure Point. Remember: Eyes on your mind not on your trade CORTES TEAM
Looking at USDCAD we see that the RSI is heavily oversold. I am long in the gartley pattern since 1.2837. For those traders how might have missed this pattern, you get a second chance with much better RR ratio. Remember you follow your plan! Best of luck, Felix. Website: www.ogtpartners.com Twitter: goo.gl Facebook: goo.gl
Here on the sunday opening we are looking into having a short in place if price hit´s the major structure resistance we are running into. The formation of an advanced cypher pattern may give us a defined rules based entry, not right at the resistance, but we hopefully catch the move with the entry at the PRZ 162,025 Have a good week in the markets Kind...
Most likely gonna hit 38.20% at the psychological major structure level 108.00 Gonna Watch Price Action after to indicate direction
The GBP/AUD has been in a bear trend since the end of August last year. Just recently the bears were able to pull price underneath the even handle 1.90000 and keeping in there for 2 weeks now. The next weekly support came in at around 1.87000 and for now it has absorbed the selling and rejected lower prices. But as long as we do not get a close above 1.91000 I...
Since the end of January this pair has sold off heavily. Short term the bulls have found their way back but mid and long term I am still in favor of the bears. Only a close above the even handle 1.35000 would change my bias. We are closing in on the resistance zone between 1.33900 - 1.35000 which is a good area to get short in line with the higher time frame bear...
Since the end of January this pair has sold off aggressively. Short term we are seeing an increased activity by the bulls but as long as the 1.35000 handle has not been taken out I'm in favor of the bears. We are closing in on the resistance area between 1.33900 -1.35000 which should provide us with a good area to take a short position in order to join the long...
With the gbp/usd breaking a major structure (support) level earlier today. it is now rallying back up to the 1.42266 structure level that has Fibonacci 1.618 inversion confluence. if this trade fits into your plan, it is an excellent opportunity with a ton of potential reward for not much risk.
Right now I'm Still Neutral on SPX500. This could all change IF we break & close below the Major Support level on the Daily time frame. IF, we break & close below that level, THEN, I would expect Price to run back down to Previous Lows (Green Dashed lines on Chart) @ around 1880's level. So far in this Uptrend we have started making a series of Higher Lows which...
I've spotted two potential bearish patterns completions which lines up with the beginning of the major resistance zone of 122.93 - 126.87. At the rate of 123.54 completes a bearish butterfly pattern. At the rate of 122.99 completes a deep crab pattern. These two patterns in conjunction with the major resistance zone gives me a PRZ of 62 pips to keep an eye on.
price is pulling back into nice structure level which would be a good opportunity to get long. Buyers are clearly defending this level as they dont want price to drop into the area where Canada cut interest rates. I.ll be watching for a buy signal at this level eg bullish hammer or engulfling pattern. My long term target is still at 1.30 but i.ll be targeting...
Price have already been rejected on Friday but there is still some momentum to the upside in place. RSI is going overbought. Action: wait for a double top or some bearish candle formation to short
Reasons for entry : - Harmonic move - AB FE 161.8 - ABCD : FR AB 38.2 -> FI CB 224 = perfect abcd ratio - Daily structure SL: - Below structure, if price makes new structure low the setup will be invaild so it is very good risk reward TP: - On previous structure which is FR 38.2 of impulse leg