Pound had a huge run up. Looking to take a power move short 1:1 Momentum slowing - 4 hour showing double top head and shoulders with MACD looking to be going lower, crossing over the 0 line. Fib retracement from the last big move up. TP is just above the 0.618 FIB level. Will monitor, may TP at .5 if no strong momentum to push through. SL above key 1.95...
Very nice long setup here, - Clear breakout of Daily support turned resistance - Candlestick pull back showing this level will hold to continue to the upside - Overall market trend, and a uptrend daily and 4H - Long term EMA is suggesting that we have alot more upside to come from the previous giving us that added confluence that it's a good Buying position to...
EUR/AUD Has broken out to the upside trend line break and daily moving averages to the upside. Favoring a long opportunity. We are waiting for a pull back to new support to execute a long position to 1.59749 if we do not see a pullback we will simply stand aside.
Daily trend formed, after strong break out... taking the retrace trade on this bullish trend. Entry around 0.7625 Targets @ 0.7765 1:3 Risk reward
NZD/USD OUTLOOK. NU finally broke above the 0.68736 level giving us a nice break retest this week. Added a fib retracing to the 78.60% level. Will be watching closely on market open for a pull back to execute a long to D2 extension (61.00%) level witch also is confluent with historical resistance 0.72315. If we do not see a pullback and my trading plan is not...
so here we have a simple setup. Elliot wave will short. to bounce back up to go back down than finally reaching the support that would ultimately cause a breakout on the buy side
There are technicals for either outcome to go off from my analysis here on the USDCAD Daily. Given the monthly support rejected price aswell as the top channel rejecting price for a 3rd bounce, gives me an incline a B/O seems pretty natural and potentially to the upside. however with all MA'S crossed over to the downside on all higher TF'S & bearish engulfings...
USDCAD will be very bearish price will not break aboce purple resistance at 1.27235 if price breaks 1.25578 expect heavy downfall
Hi Trader, Thanks for checking out this idea. Here we have a beautiful 2618 setup formed on the hourly timeframe. It's not often that the double bottom is so nicely formed with symmetry and all, not that it changes the plan in any way :) The 2618 is a reversal strategy, so this is therefore a counter-trend setup. Price is currently around 100 pips above my...
Hey Traders, During today's Daily Market Session we entered a small position on a potential Bearish Bat Pattern formation on the S&P 500 securities. This was identified as more of an extended Bat according to the trade plan as the C-D leg has extended beyond the .886%. The potential pattern has formed in the region of a previous Resistance zone. Entry was @...
Hey Traders, Fairly late spot on this one been away for the charts for a few days. During today's Weekly Market Watch identified a daily Gartley Pattern formation on the charts. This was identifired as more of an agressive Gartley ID according to the trade plan as the BC leg merley wicked the 618%. However a valid Gartley pattern all the same! This pattern...
Price broke through a pretty strong descending trend line. I'm looking for a possible long position opportunity. Buying around the 94.20/94.30 area at the 38.2 retracement. Let me know your thoughts on this setup. Thanks!
Gold broke the ascending trend line and proceeded to drop to 1224 levels. I am looking to stay with the trend once the 3 wave correction is complete. Selling around the 61.8 retracement level ( 1247 ). Placing my stop loss around 1265. Possibly opening up 1200 levels for take profit. Let me know your thoughts on this setup. Thanks.
Im looking to sell the GBPJPY at the 61.8 Fib level. GJ has been in a strong downtrend. Good confirmation to sell on the pull back at 158.500 with the Daily descending trend line, 61.8% fib retrace and strong resistance horizontal line of 158.500. Let me know your thoughts! Thanks.