Why sell?
Head & Shoulders pattern
resistance at previous support
Initial profit objective:
1.534xx
Additionally you may want to wait for the market to pullback to test the neck-line, however, there is a chance that the market may not test the neck-line before the dip down to the measured profit target. This is an aggressive short entry with stops above...
There are two options:
1. If the price will reach the last higher high, it going to touch the resistance (komo above the chart). we have to notice the price needs to show his power for higher price.
2. If NOT, then we have to except forcing the support to break down. when i focus on the history of this chart, i found several situation like now.
But, on this...
Too many reasons to sell NZDCAD.
Break retest strategy and all other reasons can be seen on the chart.
There is also a negative divergence on 1d RSI.
Good luck all.
FX:NZDJPY
The rate has climbed up and is now testing the two-and-a-half-year falling trendline resistance. The current level is also the former broken neckline of a completed head and shoulders pattern back from February.
I will be looking for selling opportunities on shorter time frames, however the stops should be based above the resistance area (81.00) and...
FX:AUDJPY
After bouncing higher from the 9-month-long rising trendline the rate has stalled a bit at the former support area which should now become new resistance.
I am looking for a strong rejection lower to target another test of the trendline around 84.20.
A break of the resistance area above 85.40 would invalidate my bearish bias for the pair as it...
FX:GBPUSD
The rate has risen to test the symmetrical triangle's resistance which is also an old support/new resistance area.
I have no clear bias at the moment so I will be ready to enter both sides.
For a short position I will be looking for a strong rejection from the resistance like a shooting star or bearish engulfing pattern to target the triangle's...
FX:EURJPY
The rate is currently testing some interesting former support levels which should now become the new resistance -
Already confirmed polarity change area (the yellow rectangle) 120.20 - 120.55
4-month long broken rising trendline support
The lower parallel of the broken falling channel (black dotted line)
I am looking for a strong...
FX:GBPUSD
We could be looking at a double bottom here. I am very interested in how the rate is going to act around the neckline at 1.2780.
At the moment I am looking more at the neckline break to trigger the double bottom set-up to target the former major support/now resistance at 1.3475 which interestingly enough seems to also be the approximate 100% breakout...
OANDA:XAUUSD
The price broke through the major psychological resistance at 1,200, which was also a major polarity change as the old support/new resistance, and right after the break it has been stalling just above this level forming something of a double top.
I am looking at this as a bull flag at the moment as long as we are trading above the rising trendline...
FX:EURAUD
As expected after falling back inside the familiar range the rate pulled back to test the upper boundary and turned around right on the spot at 1.4470. (watch the video on full trade idea here )
As I have closed a part of my initial position and my stop's at break even - I will be looking to scale back in the trade.
I will be looking for a pullback...
FX:AUDUSD
AUD/USD DAILY
The rate broke the gap resistance yesterday and is now testing the 3-month falling trendline and former support level at 0.7330.
It came within 10 pips of stop loss, but I am still holding the positions and will be looking to scale in the trade.
My bias is still lower, however I am will be waiting for today's NFP figures before...
FX:AUDUSD
The rate is currently pulling back higher to test the former support new resistance zone at 0.7280-0.7300 which is also a falling breakaway gap resistance from December.
I am looking for a short entry, preferably somewhere around the falling trendline resistance (black) from November.
Take a look at my video about weekly set-ups here
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:GBPNZD
This one is has been in a free fall ever since the Brexit vote. It has broken every possible support and is trading at all time lows.
For the next year I really don’t see anything good for pound so I am only looking for a downside continuation, the only question is where to sell...
One possibility is the former channel support as the new...
