With EURCAD having headed a long way down has seen a slight support around 1.3000+ region. The region seems to have held really will with impulse buying. Observing the Price Action on the pair, we saw an extremely strong selling from point '1' on the chart which happens to be a rejection from ST Resistance 2. Further, as the pair progressed through time, the...
basic textbook setup. price has retraced into a key resistance level which also has 2 fibs lined up with it aswell (38.2% and 61.8%). double top has now formed and price has bounce off the Resistance forming a pin bar/inverted hammer. Target at the neckline of double top.
Well formed pin bar from daily key support level. This is a counter trend setup, but from an obvious key support level, so I'm giving this a shot.
Pretty good setup. Fibo 62% retrace + pinbar + bullish engulfing + 365 MA and 'semi' weekly S1 bouce. If you decide to take this trade wait for daily pin to close and wait for its high to be broken by at least 5 pips. First target would be 178.8, second 181.4.
The GBP/AUD pair has endured a powerful bear market since 2001, however, many correlating indicators are suggesting that we may be close approaching a confirmed pivotal change in the dominant trend. Our first major indicator was the cross of the 50/200 Exponential Moving Averages which occurred in January of 2014. The last time these indicators crossed...
USD/CHF has broken out of a 25 year falling wedge pattern that began in 1980. You must purchase high-quality historical data such as eSignal to see past price action on this pair as TradingView only allows day up to 1992 on USD/CHF. The lower trend-line has 4 high quality touches rather than just the two TradingView displays. When the EUR/CHF peg was removed,...
My analysis of AUDJPY 4H. I have created 2 potential supply zones and 1 demand zone. The chart shows a downtrend at the moment and despite a recent sideways trend from February, if the price happens to hit my supply zone 2, this indicates a potential long term short.
The NZD/USD has been in a significant downtrend since July of 2014 as the USD strength continues to rule the FX Market. We have seen quite a dramatic pullback within the NZD/USD that has now set us up for an excellent selling opportunity to trade back in line with the overall downtrend. We have 8 factors of confluence on the daily chart that support a bearish...
All information is in the graph.
The major trend is UP. We are in a pullback and already in a confluence levels. This little pinbar gave me a possibility of entry.
*Here's The Link To The Video Explanation of This Trade www.youtube.com Rather than write out a lengthy explanation for this trade, I decided to include a video break down in my Weekend Review video which will be out on YouTube tonight. The video typically takes a good amount of time to produce and upload so I decided to share this chart before it's completion....
As image shows, after a channel break we are having two consecutive pin bars rejecting horitzontal level + 10 and 20 EMA's.
I'm short in this pairs since 93.00 and i'm looking for another entry to sell more. This pinbar can give us another entry. I will set a sell stop order in the minimum of the pinbar
Price bounced off the 0.236 fib several times forming a evening star and then several bearish pinbar candlestick patterns in a row. This is indicating selling pressure, we could see price advance to the downside soon. My preference is a rally up to the 0.5 fib in confluence with some structure but advancing up to that level is looking less likely. RBA meeting on...
The bearish Pinbar on the 1.54 resistance provides an interesting continuation setup for initial bearish harmonic setup (AB=CD) posted last week. This setup is one of the trading ideas posted on this week's Weekly Markets Analysis newsletter: marketzone.tumblr.com
Yesterday, before the NZD rate decision, the Elite Zone members received a setup to focus on shorting $NZDUSD (as well as $NZDCHF). This chart explains the reasons. You can join the Elite Zone by visiting www.themarketzone.net and clicking on the Elite Zone tab.
A different approach this time: Looks like a double top with pin bar on the 8 hour chart. Should be enough room to move for at least a 1:1 R/R.
As stated in a previous idea () this pair has already been rejected on major daily structure. Now is setting up a possible head and shoulder pattern on lower timeframe (4h). Many pin bars formed on Friday showing price rejection below left shoulder level of the formation. Action: On Monday look for price to not gap nor open above pin bar's tails and sell at...