retest of previous ascending trendline which was broken.. expect prices to bounce and continue going south
We have a potential Advanced Bat Formation forming on the hourly that comes in at a previous level of structure support that may now act as resistance. Akil Stokes Chief Currency Analyst & Head Trading Coach www.TradeEmpowered.com -The Premier Online Trading Education Company YouTube goo.gl Facebook: goo.gl Twitter: goo.gl @AkilStokesRTM (Instagram,...
My analysis is based on structure and price action. My idea might be not suitable to use as signal. Trade on your own risk. HAPPY TRADING!!!
In case of a deeper price rally into the red area on the chart, we will have a bearish Gartley completion level, a fibonacci cluster zone and a retest of a broken structure to the downside: this confluence triggers a sell.
Since January 2015 the EURCHF has been in a somewhat dormant bullish trend, with some dips and sideways movement, however there hasn't really been a sign of a definitive trend. We had some potential signs of a bullish trend in July 2015 with a breakout of the range (highlighted by the rectangle to the left. We had a re-test of the range and then a further move...
Hello Traders. We have a very nice trend following setup on FX:USDCAD . As we see price is bouncing on the diagonal support perfectly and trending up. What I expect now is another retest of this support and rally up. Note that price found resistance right at the weekly R1 and if you missed opportunity of long entry on previous pullback levels, it is a very nice...
Not a pair that’s in my trading portfolio but I have no doubt that this will be on Jason Stapleton’s radar during this morning Warroom meeting. This is a simple Trend Continuation Trade (TCT) setup on the CADJPY as we look to get long at our current level of structure support. WHAT I’M LOOKING AT Price action has just broken a resistance level and has retraced...
Because price has broken out of a channel I will look to join the down trend on NGAS at the potential retest of previous structure around 2.64.
AFTER THE DOUBLETOP FORMATION. WE CAN SEE THE BREAK OF THE NECKLINE , WE ALSO CAN SEE A RETEST. OUR CONFLUENCES ARE DOUBLE TOP FORMATION BREAKOUT AND THE RETEST AND A TRENDLINE CONFLUENCE AND OUR FIBO. IT IS POSSIBLE EVEN TO BREAK THE TRENDLINE , BUT WE ARE NOT SURE IF THIS WILL BE A BREAKOUT OR A FAKEOUT
If you saw my post yesterday then you know that I’ve been waiting for a potential short on this pair. (Here’s the video link explaining the trade www.youtube.com) My initial killzone was pretty large and after a brief test of the bottom levels of it, price has rallied back to the top providing me with the opportunity that I was waiting for. The reason I didn’t...
On this one, I'm waiting for a retest at the previous support. This will give us a very good SHORT entry. Hope it goes well.
PRICE HAS BROKEN OUT OF THE CHANNEL AND HAS NOW RETESTED IT ALONG WITH A SMALL STRUCTURE SUPPORT LEVEL, A HAMMER CANDLESTICK WAS FORMED SHOWING BUYERS HAS STEPPED IN. THIS SETUP IS LOOKING LIKE A GOOD LONG OPPORTUNITY BUT PERSONALLY I,LL BE WAITING TOMORROW TO SEE WHAT THE BOC GOV HAS TO SAY IN HIS SPEECH. IM HOPING FOR A DOVISH STATEMENT BECAUSE THIS WILL WEAKEN...
#NZDUSD Long Idea 1. 200 SMA in zone 2. Break above the previous structure 3. Retest expected 4. 0.786 confluence with 200 SMA
As expected the bears tested all of the fib extensions of the butterfly. I also expected the bulls would start to kick in at the predefined zone of 1.9383 - 1.9363. Price even pinched lower to 1.9293 to trigger the bat entries. Unfortunately I didn't see the bullish bat, but that price alignment really gave the bulls a good risk:reward ratio. Now I'm both long...
GBPAUD has been a pair that we've been tracking for about a month now. For the past w\few weeks we've been waiting for the ascending triangle breakout and now that it's occurred the next chance to get long would be a retest of structure. As the market has wiggled it's way down, we've set up a potential bullish Gartley pattern that can be used to take advantage...
I have been shorting this pair for a while now. Since it has been on a downtrend with predictable pullbacks and FIB retracements! A 4hr Candle just closed testing the Bearish Flag that broke out recently from GBP strength. This technical analysis has been respecting a weekly structure and is now on course to test the lower Trend Line of this structure. I am...
Tried shorting this pair twice yesterday and failed on both attempts. The first short came at the aggressive structure level that we talked about in Monday's training (which occurs around the B leg of the harmonic move I drew out) and the second attempt came at these very same highs. Unfortunately my stop was about 8 pips too shy and the market got me. Fast...
As you can see in the chart, this whole down leg (from mid November) has been a sequence of break support, make lower low, retest breakout level (support turned resistance), break support etc. You can see in the chart where each retest has occurred and we are now at that level again. We are also ~$10 off the 10 November 2013 low. To me this says we should see a...