While USDSGD began the past week of trading with a downward moves, these were quickly reversed by the end of the week and the price ended up where it started: Clearly, traders can see over the past few months that USDSGD prefers to trade within its range of horizontal resistance at around 1.3612 and of support between around 1.3442 and 1.3473. Bull bear indicator...
Moving averages suggest we have some more way to go down as we continue a strong downward trend. Moreover, the strength of this slide is notable. Resistance from February was broken as was resistance from January AND price action also broke a trend line from back in 2018. In spite of this, RSI and stochastic suggests we are poised for a rebound as both are...
We are now at the nice support level and it is due for a swing back.
It can go the way up to 111.5, or little beyond. But I do not think it will make big uptrend.
It is more of the possible swing back and the downtrend will resume sooner or later.
& analyzed it again
- it`s always your decision ...
(for a bigger picture zoom the chart)
This is only a trading capability - no recommendation !!!
Buying/Selling or even only watching is always your own responsibility ...
more 4XSetUps @ 1482 Major Cross-Rates (741 on both sides) @ my GOOGLE...
Simple short trade on the AUDNZD here, price has been making lower highs and lower lows on the 4H timeframe. Decide to place 2 limit orders on the 0.618 and 0.786 RETRACEMENT OF XA.
Identified possible areas of reversal as my profit targets. Shooting for extended targets.
A channel formation can be seen on the 1D chart.
Price has bounced off the upper channel, moved downwards and is now retracing back up
Entered 1/2 position the 0.618 RETRACEMENT OF XA, set a limit order for 1/2 position at the 0.786 RETRACEMENT OF XA
Fib level coincide with structure levels and RSI divergence has occurred! Perfect example of my ideal entry!...
BEARISH CYPHER PATTERN completed on the 4H and 1H time frames. Abstaining due to existing position on this pair. However, if a RSI DIVERGENCE occurs, may consider taking a small position to short this pair
Looking at EURGBP, price has been a down trend since April this year. Price has retraced to touch the 0.618 RETRACEMENT OF XA. The 0.618 - 0.718 RETRACEMENT ZONE also confluences with a major structure level, the previous high!
Looking deeper, we see that the retracement is also a 1234 SETUP, confluence with RSI DIVERGENCE and a DOJI, whose upper wick extends...
AUDJPY on a DOWNTREND here, identified 3 possible SHORT ENTRIES
A possible BEARISH BAT PATTERN. ENTRY @89.26 (Purple line)
Using XA as the impulse leg, i identified ENTRY ZONE 1, between the 71.8 and 61.8 RETRACEMENT OF XA. However, i do not feel that this entry zone will be hit, given that it has already been tested 4 times....
Identified 2 Advanced patterns on the NZDCHF.
Purple Triangles represent a BEARISH BUTTERFLY(Completed)
Blue Triangles represent a BULLISH CYPHER
Clearly we are now stuck at an impasse, to go LONG or SHORT, that is the question.
Taking a step back to the 1D time frame, we can see that price has moved in a pennant formation ( grey lines) While it is not within...
Found what I thought would be a simple shorting into a downtrend when price retraced to the 61.8 RETRACEMENT of the impulse leg XA
Further inspection of the RETRACEMENT LEG ABCD revealed a 1234 movement, which terminates at the 1.272 EXTENSION OF AB . This level has further confluence with structure on the left and with the 61.8 RETRACEMENT OF XA. This will be...
Bat pattern just completed (Not drawn in)
Pair moving to support level dating back to late OCTOBER 2015. Simple buying at a support level. Profit targets at 0.618 RETRACEMENT OF XA. Will probably wait for a reversal signal like a higher high higher low or a double bottom on the 4H time frame before entering