USDCAD has provided several excellent trading opportunities over the last couple of weeks. It continues to do so for us as we have recently this week completed drawing a head and shoulders pattern. These patterns are typically a sign of a reversal, in order for me to trade them I must see them completed in not only a timely fashion, but also visually and...
EURCHF has completed a possible ending diagonal and has made a reversal in a confluent PRZ. Wolfe Wave theory defines the sweet zone, or the area of a probable reversal, as the area between 1-3 and the 2-4 parallel extension from point 3. Similarly, EW theory suggests that wave 5 will often overshoot in an ending diagonal which may be followed by a swift and...
Hi, please find my thoughts on doing reversal trades. This is the pattern that i am looking for when doing reversals!
Gold's Behaviour May Signify An Upcoming Reversal For AUD/& NZD Pairs Potential Sell Setup Shown For NZDJPY, Awaiting For More Confluences To Line Up (Especially If Gold Indicates More It Does Not Wish To Trade Above Key Monthly Resistance) Gold Outlook On Potential Reversal
After breaking below the 2.55 price area recent price action is seen to pull back into and retest it showing signs of potential downward continuation. This price level is in very close proximity to the 20 ema and the 0.382 Fibonacci level. A bearish reversal bar thrusting off of this bundled rejection region is an offering of a short entry to resume to the...
Hello traders. FX:GBPAUD is ranging between the channel and making harmonic moves as we see on the chart. the best opportunity to get involved in is to wait until the price finishes ABCD pattern @2.1260 at the channel support level and then go long. Besides this ABCD pattern is in 3 drives pattern. If you look left we have a very nice structure at this level....
NZDUSD seems like we can have a reversal patern here...
This is the opportunity which I was watching the whole week. We have a very nice setup on FX:NZDUSD To start with there is a perfect ABCD pattern, completion right at the resistance level 0.6455. Besides we have a confluence of fibs 1.272, at this key level I look the price to hit the channel edge and finish the channel, as we see we have 2 touches below and 1...
I see a great opportunity to go short on FX:NZDUSD . We have a very nice triangle pattern with very interesting key confluences: 1. Price has tested the triangle resistance once more 2. Fibs 78.6-88.6 (little one) 3. Fibs 61.8 (big one) 4. Nice shooting star candle. Our targets are: 1. Next triangle support level 2. Nearest structure support 0.6290 3. Fibs...
There is a very nice potential rally on FX:AUDUSD . As we see price has broken a bearish trend @0.7021, then made a pullback, then tested the high @0.7040 and now is ranging in ascending triangle. If the price breaks the triangle and makes HHHC, then we are in a bullish market. Our potential target is next structure @0.7096 with the confluence of 1.618 fibs...
Sunday morning traders! For Monday there is a very nice shorting opportunity on FX_IDC:EURJMD There is a very nice structure resist zone with the confluence of fibs -38.2-50.0. If you look left we see these key levels, which are our reversal zone and price is more likely to fall down until 133.67 for target 1 and 133.15 for target 2. Lets see what the price does...
Hello Traders! Today on my radar is FX:USDCAD As we see price is approaching the key resist level which will be the must watch level to go short. Currently price is moving in the wedge pattern and @1.3310 we might see the false breakout in order to test the wedge resistance and then fall down. As the price has tested this level many times, there is a...
Sooo, we have a very nice breakout on FX:EURGBP after a long term retests of the structure level @0.7240. As we see price has broken the structure and it is more likely to retest it and then fall down. And there is a good opportunity to sell at this level. I assume price will reverse somewhere in red zone and our targets will be somewhere in 0.7176-0.7146. So...
Hello Traders! Today we have a very nice long setup on FX:GBPUSD It is a pure structure based buy opportunity. So I am waiting the price to go @1.5484 and retest the structure support and then go long all the way up until the next structure. Here we have very nice fibs condluence: 1. 38.2 right at the structure level; 2. 61.8 little below from structure. So this...
The trend on the hourly chart has turned bearish after breaking the channel up Recent correlations between the Yen pairs and the equity markets have been quite strong. We are starting to see a bit of risk aversion in a pull back a bit ahead of the FED meeting this week on the back of uncertainty over a rate hike. With EURJPY already giving technical signs of...
Hello traders. Today on FX:GBPUSD we have a very nice shorting opportunity. The price has made perfect double top @1.5470 at very strong structure resistance level. For more confluence look left or switch to daily or 4h timeframe to see it better. Then price broke the neckline and went back @fibs 61.8 which gives us a 2618 setup and very nice shorting...
Good Monday traders. Here is the first setup of the week. We have a pure structure based shorting setup on FX:NZDUSD . The market is moving in the wedge currently and I am waiting the price to enter the Red Zone and fall all the way down. The reversal zone is between the structure resist and the fibs 61.8 with the confluence of look left structure. We should wait...
The Fibre had a bullish week, printing a green candle every day for a total gain of 190 pips. We have seen mixed data points for both the Eurozone and the US but the main fundamental driver is obviously next Thursday´s FOMC event (interest rate, policy statement and press conference) as market players are preparing their positions. Not only the Fibre was bullish,...