Might be H&S forming, but also could break higher. Not really sure right now, but it looks like a big move could be underway. MACD looks a bit unclear, CCI appears to be bottoming, RSI looks like it could rebound but near 50. New phone looks to be a bust, and is just meant to be a filler pre-7 release.
AUD/USD has formed new structure recently showing signs of a trend reversal. Whether this continues to hold longer or not is for price action to reveal. As for now, a potential bullish continuation is brewing after what seems like a shall retracement. The close of price action by end of day as a low test bar above ~0.7250, where price has found support, will...
Another short set up on AUDUSD since downward momentum on the previous set up (idea linked) failed is on offer. The present set up comes after a deeper pull back, organic in a sense, into the 50 ema which also lines up with a previous level of support (~0.7250), now acting as resistance, and the 0.618 FIbonacci level. Price closed as a high test bar. Oscillator...
On the S&P 500 and NASDAQ100 indices, closing as a high test bar in the resistance zone, and a bearish engulfing bar on the FTSE100 (UK100) stock index, a sell setup is in order suggesting potential bearish continuation on these three (CFD) indices, following the recent sell off on major indices. 1. S&P 500 The rejection/resistance zone on the S&P 500 comprises...
Although the retracement/pullback on this pair is quite shallow my reasons for taking a long position are: - Bullish/reversal bar following 2 seller bars - Support at 1.3100 with close above - 8 ema rejection/support and close above - 0.382 Fibonacci level rejection and close above - Stochastic and RSI convergence entry - above high of low test bar stop loss -...
With the following noted a long scenario appears to be in play: - bullish reversal bar (near resemblance to bullish pin bar/low test bar) - resistance becomes support (at ~2.3260 which stands out as a weekly level dating back to November 2009 ) - retest of 20 ema and close above - trend line support (third touch) - Rejection of 0.618 Fibonacci level and 50%...
Looking at the following to sell EUR/USD: - inside bar - 50 ema rejection - resistance at @1.1100 - Fibonacci cluster: - 0.786 Fibonacci level rejection from previous swing high to swing low and closes below - 50% retracement between first swing high at the top of the trend line and closes below - trend line rejection - Stochastic and RSI convergence entry -...
Using the following to back a short entry on EUR/GBP on the daily chart: - inside bar - resistance at ~0.7120 - mother candle rejects: - 50 ema and closes below - 0.786 Fibonacci level and closes below - Fibonacci cluster - falling trend line for the 4th time closing within the downward trend channel - Stochastic hidden bearish divergence (comparison of...
Although looking a bit choppy, the bigger picture on Gold still shows an uptrend with higher highs and higher lows. Price has touched the floor at ~1180 and rejected the trend line for a third time giving a bullish engulfing and doji bar yesterday, together with rejecting the 0.786 Fibonacci level and closing above it. Stochastic and RSI are in convergence and are...
The AUD/JPY daily chart displays consecutive lower highs and lower lows with a potential short setup to continue the visible falling trend (supported also by downward trendline). The current corrective phase seems to be running out of steam in initiation of a potential impulsive phase, with the production of a bearish reversal price bar: - ricocheting off a...