NZDUSD builds a Doubletop at a D1 resistance with an overbought RSI on the left high. For further confirmations I'll wait for a close/break of the Doubletop's neckline. Furthermore the price (M240) rised within a channel. The break of the neckline correlates with a breakout of this channel. I think this could be a good short opportunity on this pair =)
Price breaks and closes below the doubletop neckline. Price retestet the neckline. Three possible targets for me
EURGBP is now in a neckline on D1 chart, it can go up to 38 fibo retracement to make a libra pattern, or something similar, and go to 61 retracement to test the previous neck line. 4h exists now a cypher pattern, starting the long.
RSI in the D1 is overbought. The H4 timeframe shows a possible Doubletop in the keyzone. Also RSI is overbought on the left high and shows a bearish RSI divergence. Nice short possiblity if price breaks and closes below the neckline.
FX:USDCAD After testing the the original breakout low at 1.3030 the rate turned around and rallied back inside the previously broken rising channel thus creating a small double bottom formation. It has also broken the short term falling trendline resistance, therefore my immediate bias is now higher. I will be waiting for a pullback towards the broken double...
FX:CADJPY We have the 1h Bullish Shark forged at structure above the neck, it the price rejects the neck as i am expecting, it can build a 5 waves structure inside this structure as an eventual ABCDE pattern, or a rally into a new higher high, higher close ;) The Bullish Bat can be forged at confluence between fibs at 88% retracement and also the 38% major...
After the last Doubletop got invalid, a higher Doubletop appaered. Possible short Setup if price closes below neckline. RSI Divergence still given.
Doubletop in the M240 Timeframe. Shows bearish RSI Divergence.
FX:NZDUSD The rate is currently testing the former broken falling channel support as the new resistance. I am looking for a strong rejection lower to enter new short position on the larger head and shoulders pattern trade idea . I would like to see a bit deeper retracement higher for the rate to test the neckline of the head and shoulders pattern around 0.6960...
FX:AUDNZD Currently trading within a contracting range, so we’ll get get some kind of resolution quite soon. I am bit more bullish here, because of these two head and shoulders patterns. I am looking for a break above 1.0800 to trigger the smaller one, which is also important because of the major falling trendline, for a move towards the neckline of the...
On the USDCAD pair, we've had a decent up movement on the daily chart for about 580 pips. Now a double top has formed with the second top being lower than the second one. Essentially, this is a textbook double top formation. Price is now at what one would call the neckline, and if broken, I am placing a sell order at 1.3375 with a target of 1.3325 and a stop loss...
3 times price on this pair retested the resistance zone surrounding 0.96 seen above. The first time price reacted bearishly (the first top), however it did not go far down as it did previously (see 2015-12-29 date on chart). The second time price broke above the zone but then fell some - forming a second top and then going down to make a higher low. Then again,...
Currently have this pair on my watchlist for the upcoming week. Should price continue to move downward breaking the 200 EMA, I'll enter short beetween 0.70500 and 0.69600, coincident with the head and shoulders neckline, on a doji/pin bar candlestick. I will then consider to take profit / scale out around 0.6700 in case the upward-sloping trendline will provide...
Just as I predicted earlier last week, AUDNZD went down to the 1.04 area to complete the second shoulder of this inverted formation. Now it will likely be heading up to the 1.07 area to the neckline resistance, and hopefully, even more past that. I suppose a buy order would work when markets open, with a target just below 1.07, so like 1.0685. Overall, I am...
EURCAD SHORT OPPORTUNITY AFTER PASSING NECKLINE & RETEST
2 possible scenarios 1-breaks the neckline and continue up 2-bounce from resistance and goes down my best guess is 1.