A clear wedge formation could be seen forming on EURUSD. As prices fail to make higher highs, prices are currently moving lower. I suspect that the pair will break below 1.0813 support to make lower lows in the near future. However, it also does have opportunity to go higher as well, so be cautious. Please leave a comment and feedback on my ideas and be sure to...
With EURCAD breaking a yearly high. The currency pair is currently the highest it has been since 2009. We can expect prices to go higher up from as long as long as the 1.55386 support regions holds. I suggest waiting for a retest then entering your positions if the line holds.
A bullish bat could be seen forming on gold. With fib levels retracing at 61.8% and various support regions surrounding the area. It is a vital area of interest for gold to move back up. If we also look at RSI levels, bullish divergence could be seen forming, as well as an very oversell RSI levels.
Breakout with high probability of short term bullish gain for $NZDUSD
With a stop at a strong trend line, price action and RSI suggest that a reversal down might just happen. Other correlating pairs such as EURUSD supports this claim as they are all near MAJOR consolidation areas short @ the stop of 1.5200 stop @ 1.52381 t/p @1.5099 Be sure to comment and follow my tradingview for more analysis! Keep calm and trade on.......
HERE IS ANOTHER EXAMPLE OF THE SAME TRADE I'VE BEEN ON ABOUT STAIR CASE: SHORT RETRACE TO 23-38, THEN HEAD TO 76 AND REVERSE TO THE 23-38 ZONE. 1ST: LONG THE BEST ENTRY WILL BE AT 1.0766 SINCE THE PRICE WILL REVISIT THE PHI LEVEL BEFORE RALLY. 2ND: SHORT SELL AT THE TOP OF THE 23-38 AND PHI (FIB) EXPAND TO 1 (100%) MONITOR TRADE FOR CHANGES IN SET UP...
Bearish 2 Bar Reversal expect price to go down to .7080 Pure Price Action Just Key Horizontal Levels Keep it stupid simple.
Breakout of triangle towards the short side as predicted
Closed short $NZDUSD at 0.6699 for +17 pips profit!
Symmetrical triangle formed on the 15 minute chart. High probability of bearish breakout.
Happy New Year All, Cypher setup coming up here on GBPAUD, see chart for position details. Good trading in 2016 and beyond! Luke
Clear breakout in the elliot impulse wave, downside movement expected
We have a nice symetrical wedge pattern forming on the H4 time frame. It looks like the overall trend is long at the moment, at least based on the daily time frame. Wait for the break to enter the long position. Enter: somewhere around .9925 T/P: 1.0120 S/L: .9853 Remember wait for the break out!!!
As you can see its around the area of the highest high since 2009, it has hit that area twice this year before falling massively, I believe this is a triple top forming now and will drop again massively.
My thoughts for this trade This Pair is looking very bullish at the moment. -A couple of Long term (Weekly) Fibonacci -Monthly, Weekly and Daily MA's bullish (My MA's of course) -Daily Break retest and continuation of 1.5000 Monthly Res level. Price ready for entry with liberal stop. I Will see how market opens and potentially wait for price to enter a better...
Hey traders! Previous bearish bat worked really nice on Xauusd and now I am taking this bullish one. GL!