Idea is based on median line analysis, fibonacci ratio's and basic support/resistance. The rationale behind this setup is shown on the chart along with specific targets and stop loss. Good Luck
Here we see a butterfly pattern completed on the Eur Aud 30 min chart. We know that butterfly patterns often rally to the 1.618 extension of the BC leg, so that is where our limit is at. Our entry is at point B and our stop is at point D, giving us a 1.39 risk to reward. I believe the rally will take place over the next few hours. Thanks for checking us out,...
Sorry for being quiet this week trading view but I've been running things on the road. Also the markets have been pretty quiet this week so there just hasn't been a lot to share. Today seems to be a little bit better and I wanted to bring a potential buying opportunity on AUDUSD to your attention. I'm already long this pair from earlier in the week. My position...
Long term I am neutral on this pair, however the recent EUR pull back brings about great opportunity to buy on the dip as it seems to be respecting the technical levels. The trade setup is explained on the chart, looking for a short term trade on this - however I feel there is further upside potentially. Many thanks
EURUSD, in H4 timeframe, did a new low after double tops structure. Bullish pressure seems to be trying to pull it back and a good level to place a Short is in 1.1345, where there's resistance by structure and by Fibonacci Retracement.
Most of the other YEN pairs have recently declined strongly from earlier in the year which in varying degree are being retraced with some possibly still in progress and others might have just completed. CADJPY - appears to be such pair that might have completed the retracement and could be in very early stage of resumption of the down trend and potentially offer...
Long term trend resistance and Fib Resistance channel lead me to believe that CP Rail is about to take a dive. A healthy retracement is required for long term growth to continue. Comment your thoughts! Happy trading
The EUR vs USD is hitting a ceiling known as a resistance zone between 1.14512 & 1.15400 We might see price penetrate this zone but I think we will see a correction here. Our current daily candle is known as a Hanging Man which represents possible reversal of an uptrend and better yet it is at the resistance zone. The Hanging Man is telling us that there was...
We placed NZDUSD on our radar during yesterday's Live Room session and have been tracking it ever since. I apologize in advance, but the analysis that I did on this pair is somewhat advanced so I'm not going to attempt to duplicate what I shared with you in last night's Syndicate video. Honestly speaking it's a lot clearer on the 13 period range bar charts (as...
Most USD pairs weakness against USD has be very stretched have been appearing to either reverse trend or at least make noticeable retracement GBPUSD is not different. It is possible that the recent bottom formed in April could be significant one resulting in trend change or may be just an intermediate low. Also as it was severally oversold exasperated by...
In my previous GBPNZD chart I suggested a potential larger contracting triangle and associated long trade highlighted has developed really well the low. However the price action has now overshot the requirement for contracting triangle upper limits (see chart link below) Therefore, the contracting triangle is no longer valid, nevertheless in the longer term the...
A lot going on here on the GBPJPY so instead of writing a long explanation (plus I need sleep) here's a video explaining just exactly what I'm looking at. www.youtube.com Akil Stokes
basic textbook setup. price has retraced into a key resistance level which also has 2 fibs lined up with it aswell (38.2% and 61.8%). double top has now formed and price has bounce off the Resistance forming a pin bar/inverted hammer. Target at the neckline of double top.
Bear Cypher pattern completion @ 119.10. Minimum stops would need to be above 119.35's. Key word minimum. Technically speaking we've been seeing a series of NSH's so one would think that this previous OR would be a good source of resistance. But it's also trading we''re talking about so you never know. Akil Stokes Chief Currency Analyst...
DAX IN A NICE UPTREND BUT WE'VE RECENTLY STALLED CAUSING THE DAX TO CONSOLIDATE FOR ABOUT A WEEK. WE'VE MANAGED TO BREAK OUT OF THIS CONSOLIDATION CAUSING THE TREND TO CONTINUE. PRICE IS NOW PULLING BACK TO A LEVEL WHERE THERE'S GOING TO BE BUYING INTEREST. TARGET AT 12500 WITH STOPS AT 11974
LOTS OF UNCERTAINTY WITH GBP BECAUSE OF THE ELECTION WHICH IS CAUSING THE POUND TO DEPRECIATE. PRICE BROKE OUT OF THE RANGE LAST WEEK AND IT IS NOW LOOKING TO RETEST THE RANGE LEVEL (SUPPORT TURNED RESISTANCE). THIS IS A TEXTBOOK TREND CONTINUATION PATTERN (BREAK,RETEST,CONTINUATION) IF PRICE MANHES TO RETRACE BACK UP TO MY SELL ZONE I ALSO HAVE 2 FIB CONFLUENCES...
Wave 1 (subdivided in 5 subwaves) has ended at 231. We will have a wave iii of 3 of C (C is a third wave) so we should have massive volume, price could go really low. Now we should get a small retracement before wave 3 begins.
Based on a possible wave count, AMZN is currently in a channel that could eventually continue the intermediate bear move