After reversing off of the .5 fib retracement, GBPAUD is giving us a nice opportunity to follow the trend further downward.
We have multiple confirmation signals including:
1) A broken and retested ascending trendline
2) A broken and retested Bear Flag
3) A broken and retested Head and Shoulders Pattern
We also have a potential AB=CD pattern with the D point...
SHS on 1D near to break down. Just did a pull back to upper side of bearish directrix today leaving a 4H bearish candle and way to live it in 1D also. It could break down soon this week.
Likely to go down until 0.618 fibo retracement (around 4950). I would set sl at around 5415.
Here we have an opportunity to sell GBPNZD after it reversed off the .382 fib retracement and formed a head and shoulders pattern, which has been confirmed with a bearish break of the neckline.
At the current moment, you should wait for a better opportunity for entry as price is sitting on both a horizontal support (highlighted in green) and a ascending support...
The GBP/USD pair is about to trigger a head and shoulders pattern on the daily chart, after rejecting the 50% Fib level of the April '18 - December '18 impulse move.
The pattern projects a fall of around 450 pips (around 3%), which aligns with the December 2018 low of 1.2500.
Bear in mind that upcoming Brexit developments may increase volatility and intraday...
Heres a trend that may continue? Not sure I see a reason to break out to upside? Not sure what china will do as retaliation, but I imagine market wont think of it as a reason to rally back to highs.. but who knows, been wrong many times before.
Why this forecast will ultimately prove to be incorrect:
Im around 90% that monday, if market starts falling, we'll be...
A bearish trend could be expected after this SHS pattern in 1W. Support at 21.5x has already been broken. A pullback may happen in next weeks to that level as a resistance or keep going down to 20.0X support directly. This will be a very strong support which I don't think the tick is breaking. Few weeks remaining for confirmation.
The AUDCHF pair is trading in the upper range of a falling channel and has formed an SHS pattern as described in one of our previous analysis (idea attached below.)
While the first attempt to break below the pattern failed, now we have a secon right shoulder that shows a strong selling momentum and may have enough power to break below the neckline.
After reaching multi-month highs and following Trump's tweet on OPEC, oil fell $64.36 and seems to be completing a pullback we forecasted earlier in our analysis. The commodity is now trading close to the lower rising channel boundary, supporting our long view.
The inverse SHS pattern has already been triggered and projects a target of around $76.xx. More...
Hi traders, USDCHF shows some buying momentum on the H4 candle, after a break out of the falling short-term channel. The pair is now moving sideways, signalling the selling pressure decreased.
The pair is currently trading near a longer-term rising channel, and failed to break below the 61.8% Fib retracement. This could mean that the underlying uptrend may...
The support around 19.20 failed to stop the downward pressure in USDMXN, with the pair breaking below the neckline of an SHS pattern.
The pattern suggests a target at around 18.94, but I would prefer to follow a more conservative approach and aim at 19.00 instead, which also aligns with a rising trendline support.
Hi guys, Brent crude formed an inverse head and shoulders pattern on the daily chart and broke above the neckline on Feb 14. The pattern suggests an upside target of around $77, but we might also see a pullback to the neckline before the target is reached.
This trade has also been posted on our Telegram channel, feel free to join: t.me
Here we have the NZDCAD pair with a possible short opportunity. The pair has been in a downtrend on the daily timeframe, shown by the red falling trendline. The shorter-term uptrend on the 4-hour chart seems to have found resistance at the 78.6% Fib retracement, signalling that the price correction has finished and that the underlying downtrend may...
Bitcoin is finally showing some bullish signs again. After testing the 3k area and the decent bounce bitcoin showed, we are now moving in what is a potential inverse shs pattern. I have seen this before with bitcoin and it is a very bullish pattern. It could push the price up to test queen trend line again but this time as a resistance. That would be around the...
CADEUR is forming a downtrend. It which might be confirmed soon (pink dashed line).
Another point of potential movement will be the breaking of the yellow trend (yellow dashed line). Might even have some SHS flavour to it.
Short CADEUR at the confirmation of the pink trend.
Trade the trend with SL at the last lower high.