I'M ALREADY IN A SHORT POSITION BUT IF PRICE RETRACES UP TO MY SELL ZONE I WILL LOOK AT PRICE ACTION TO ADD IN ANOTHER POSITION AND TARGET 0.75000. I STRONGLY BELIEVE WE CAN GET TO THERE IN THE SHORT TERM BECAUSE THE LABOUR MARKET IN THE U.S KEEPS COMING OUT GOOD WHICH WILL HAVE INVESTORS/TRADERS SPECULATING A RATE HIKE AS EARLY AS JULY. ON TOP OF THAT AUD...
UPCOMING SUPPORT LEVELS FOR EURUSD: 1.07689 1.02866 1.01068 1.00 (PSYCHOLOGICAL BARRIER) 0.96072 ETC. ETC, NEXT FIB SUPPORT AT 1.00, NOT MUCH UPCOMING SUPPORT, EURUSD WILL MOST LIKELY BREAK PARITY (1.00)
GBPJPY now reached support level and bouncing to next resistance area at 183.7+- area. As we can see, there is strong resistance and role reversal area. So from my comprehension, price will bounce back at the 183.7xx area and drop down straight to 182.2xx area where the last critical support there. 1. Wait for the retracement 2. After reached the resistance,...
As we can see the retracement for USDJPY a bit high. Now testing resistant, and possibly will break the resistance to test the higher key at 120.045+- before clearly make a free fall to first intraday TP at 119.345 After reaching 119.345 there will be 2 option. A bit of retracement or break and fall down to 118.750 to the lowest key support level. At now, we...
We've had a Crab pattern (grey pattern) complete nicely at the 293 level. I'm looking for a retracement to the 0.618 area around 255-260 before moving higher to the 300-330 region. We also had a Bat pattern completion (just short of the 0.886XA but I'm counting it anyway as most would shadow the level rather than aim for a direct hit) which resulted in a 0.50...
NUGT has put in a .618 retracement after triple divergence led it to break previous resistance with momentum confirming the break. Our decline was not a sharp decline at all hinting that this was price taking a breather on somewhat lighter volume. I am looking for price to continue to its 127 projection with stops underneath previous lows.
sorry guys, it's been a while since my last post and today i will give you my usdjpy outlook next week. as you can see we have bearish bat pattern completion, not only that but we have bearish butterfly pattern that already complete too. i have 3 options of TP 1st : the .382 retracement 2nd : .618 retracement 3rd cypher pattern completion any thoughts or idea...
This is a chart identifiing a oportunity of retracement, There is a few events that have to ocurr, is just time and patience waiting for the right time
CADJPY has reversed the trend and made a considerable move up all through the day. RSI is overbought now and it is probably exhausted and gasping for breath. We might see a +- 0.382 retracement into previous structure before rallying into the minor support level on the daily chart.
price is pulling back into nice structure level which would be a good opportunity to get long. Buyers are clearly defending this level as they dont want price to drop into the area where Canada cut interest rates. I.ll be watching for a buy signal at this level eg bullish hammer or engulfling pattern. My long term target is still at 1.30 but i.ll be targeting...
Price retested the level and retraced the Bounce level and retraced some, as expected. Expect price to go down to 59.73 again and go through it, to form a lower low. I sold most of it off at that level, and am re-shorting the retraced-to level.
@TradeYodha TradeYodha.com Possible AUDUSD 1 Hour Bullish Counter Trend Opportunity 1. Retracement to 38.2 and 61.8 levels 2. Previous structure at targets 2. 50 SMA and 200 SMA around 2 targets 3. Price currently consolidating in a range 4. RSI is not oversold or overbought so wait for the confirmation Plan your battle well in advance and win. (Just my ideas,...
Price bounced off the 0.236 fib several times forming a evening star and then several bearish pinbar candlestick patterns in a row. This is indicating selling pressure, we could see price advance to the downside soon. My preference is a rally up to the 0.5 fib in confluence with some structure but advancing up to that level is looking less likely. RBA meeting on...
Pattern observed since days ago as a possible bullish setup that might form on the bullish side for the USDCAD and that yesterday showed some support around the 1.2375 level that was also on confluence with a past resistance level and the 0.618 retracement level for the last upward move. The price might reach the 1.2500 level for today after the release of the...
correction into ote level (around 210) expected. another rally afterwards likely
In my view most YEN pairs have completed the bullish cycle from moving of the 2011 low. Hence many have formed a top or are in process of doing so. CAD has been on weaker spectrum of major currency group and this is evident from CADJPY. Please see below a monthly chart for big picture view - in which you will note that it has topped at upper end of the potential...
We're sitting atop the local higher low here. As soon as we establish a lower low, the targets below are where I would expect it to reach. There is strong support around $200, so if it is going to turn around, I would expect it to turn around there. Overall, I'm still pretty bullish, but we can't know for sure until we reach one of these targets and see what...
After nailing a 17% trade, the market appears to be overbought and hitting strong resistance. The volume says we won't break it this time, so I'm expecting a pullback to the breakout zone before making a trend decision. This isn't a concrete trade strategy yet, just a hunch. Look for possible topping patterns to confirm. We may reach slightly higher, but I...