FUNDERMENTALS TO WATCH OUT FOR Retail Sales Report OANDA:EURNZD
An Head and shoulder patter whose waistline has been broken can be seen, on the monthly and weekly TF we can clearly see that we on the peak of a descending channel, with all fundamentals remaining constant i expect a bearish run up to mid september.
Looking for a TP of 138.848 which is also a major Weekly resistance area with possible pull backs from that area. I'm still bullish on this pair. Market structure hasn't been broken as of yet to tell me my sentiment has changed.
My view on this pair remains bullish as the price is now trading above a major quarter, I expect a few consolidations as price makes its way up to the next area of supply for the entire week. Let the markets be the judge as the price is king!
My bias for the week on the particular pair is bullish based on the undershoot that is currently happening around this area, I expect more buys as price breaks above the level indicated by the white line on the chart.
We could possibly see a break of the 135.200 area we are currently at a 61.8 retracement Fibonacci level as well as a QP level so we could go straight up or we could re-trace a little bit more we could even retrace down to the 134.000 area to drive back up. I am still bullish on this pair until the market tells me otherwise we haven’t broken any major level of...
SEE RELATED for PROFIT TARGETS TRADE SAFE
entry - (0.9075) Wendesday Early morning London / Pre NY orderflow SL / invalidation - 25 pips (.9050)... cut the trade below this level if it does not go to script Profit Targets: 1:1 - (.9100) 1:2 - (.9125) or leave the second order open and trail sl 1:3 - (.9150) or leave the third order open Euro looks stretched so I'm not gonna push it too too far but...
structure prices time risk reward HTF analysis posted let me know what yall think (edit: one annoying scenario would be a clearing of the short term highs @ 3165 and rejection there just keep in mind if for some reason we trade those levels) currently 8:08 EST ideally we breakdown 3150 asap and we sell off these next couple hours into the open
Bearish below 3120 into 3110/3000 Bullish Above 3130 into 3140/3150 Quarter theory + Market structure
If price breaks the trend line and quarter level then i'll be looking to take a sell position.
We respected 1.3000 level We have Bearish Divergence It failed to create a Higher high It's respecting the Trend-line
This is a trade idea. Please trade at your own risk. Past results do not guarantee future results. Only risk no more than your willing to lose.
We could see a Break and Retest scenario to the downside considering a huge Bullish rally has taken place already. So far we see a confirmation of Quarter Level respect. Yet to await further confirmation.
On the weekly timeframe we can see many rejections and reversal candles on the 0.90000 thousand pip quarter point showing us possible reason for a reversal of the trend. On the daily chart you can see an ascending triangle forming for a breakout, and a shooting star candlestick right at the 0.9000 level to further confirm a bearish trend. Now down to the 4 hour...
USDMXN NEGATIVELY CORRELATES WITH USOIL SO WHEN OIL GOES UP THIS PAIR GOES DOWN AND VICE VERSA ...IF THE WORLD OPENS BACK UP AND EVERYTHING GOES BACK TO NORMAL WE CAN EXPEXT A COLOSSAL DROP FROM USDMXN ..SELL STOP BELOW THE 23.0000 QUARTER POINT ..GOOD LUCK