BEARISH EURUSD WEEKLY
(Analysis Based on Weekly charts)
1. Long term down trend
2.Price recently bounced at support/resistance zone
3. Recent strong bearish price action
NOTE: Wait for price action to confirm the importance of these levels. I don't trade from the weekly chart. I use it to evaluate overall market direction.
If you find this information...
The EURAUD pushed higher today completing the bearish Gartley pattern at the 1.272 Fib extension level. Although price has come down to test a recent minor structure level which also happens to be at the even handle 1.5700. There still maybe an opportunity to enter if price action moves higher for what would be a third test of the 1.5751 level. Depending on each...
As you can see in the chart, there's little to no space in the range where USDJPY has been locked in for some time (since the recent lower point), so here's some things to think about:
The US Dollar Index (USDOLLAR) may breakout the resistance and go higher
Or it may get rejected at the resistance and come back all the way down
Considering both scenarios and...
Hey traders, sorry for being away all week but I needed to get away from some of the negativity that exist on these social sites and concentrate fully on what matters most TRADING. The chart above is of a trade we took on the USDJPY this week using nothing more than the fundamental skills of reading a price chart and using the Fibonacci ratio tools.
Entered this trade just few hrs ago and the Target was hit just couple of mins ago!
Over 90 pips profit on this pair alone along with all the EUR based pairs i traded but didnt have time to post them up here b/c i was away from the screen and there wasnt any point posting them up b/c price was reaching their targets already.
Attached to this is original post...
Throughout this entire year, USDCAD has been rallying which can confirmed on the larger timeframes such as monthly, weekly and daily.
I'm basing this trade based off of that momentum and on a simple trend-contination setup.
As you can see, price has been consolidating this past week and along with all the momentum n volume today coming because of greece, Im...
Same play as i posted before on the 4hr chart but this time on a smaller timeframe. (attached in the related links)
Same rationale as well as there is clear selling pressure building from the triangle/wedge pattern from the last few days.
Expected price target for this play is 130.90
Gold has been in a descending channel for a really long time and currently it has bounced back down from the resistance of the channel.
As the price action has strongly stayed inside the channel without any signs of strength to push for a breakout on the higher or lower end, a short is a viable idea on gold with targets at half way point from the resistance while...