I would predict AUD/JPY to go bearish in the relative future, because we see a perpendicular triangle forming in the middle of a downtrend, which would indicate that price will with 1. (blue) break down out of the triangle, or 2. (pink) break up out of the triangle, touch the resistance line, and fall bearish.
What's up guys, here's a setup I've been looking at for a while. I'm not a position trader- I don't like to hold trades for any longer than a couple of weeks max. That aside, I have saw this pattern coming for almost 2 months since the B level was broken (one could have BAMM'd it!)
Here we have a bullish bat formation on platinum. The support level where the...
Happy Sunday guys! Here I'm looking at a bearish cypher on the aussie/kiwi.
The AUD has their rate statement on Tuesday, whilst we wait for the NZD rate comes next week. This pair will definitely be one to watch over the next 9 days or so!
Cypher ratios
B = 0.382-0.618
C = 1.272-1.414
X to D = 0.786
Hey guys, hereI'm looking at a potential bearish position on EUR/AUD. Price has entered into a zone of monthly support/resistance. Price may become volatile as we look towards the ECB and RBA both releasing their interest rates within the next 2 weeks. The Euro and Aud will both be currencies to watch- it'll be good to see how these to battle it out!
I'll be...
Continuing with the majors before moving onto the crosses, I am monitoring a bearish 5-0 on the USD/CAD. Even without the harmonic ratios, price has made a clear head and shoulders, broken the neckline and is now re-testing the neckline as resistance. As per usual with a bearish 5-0 pattern, I will be on the looking for any reversal candles (hanging men/bearish...
Hey traders, looks like there is potentially ample trading opportunities heading into this week. Here's the first of my charting from over the weekend.
First I'm looking at a bullish shark formation of the AUD/USD. Price has been charted on the 1 hour for greater detail of movement, but I will be looking for a sign of reversal from the current price level on the...
Happy Friday everyone,
Just before the market closes for the weekend I am eyeing up this potential short. Heading into next week I will be monitoring this pair on the 4 hour chart to look for an ideal reversal candle (hanging man, shooting star or bearish engulfing). This pair may become volatile on Tuesday 26/04 as a result of the European Central Bank's...
Alright everyone, got a few trades on the watch list starting to shape up nicely.
Here we have CAD/JPY on the 4hr chart with a valid bearish crab with a great 1:3 risk to reward.
The measurements for a valid crab pattern are listed below.
B: 0.382-0.618
C: 0.386-0.886
D: 2.618-3.618
Final X to D : 1.618
Make sure to check it out over the next couple of hours...
Hey guys, here we have another bearish shark on our hands.
Similarly to the GBP/USD trade, the daily chart has found resistance and is re-testing in the form of a double top. Within the re-test we can find a bearish shark formation. Price has already hit our D point but I am now monitoring the 4 hour and 1 hour charts for an entry.
I'm currently simultaneously...
In addition to the bearish GBP/USD trade, I am also looking at a potential long position on the GBP/CAD. Again this trade may be heavily influenced by the announcement of next week's British CPI release- also by the BoC interest rate decision on 18/04,followed by the Canadian CPI release the following day.
Price has recently broken weekly resistance. The bullish...
Good day traders! This week I'm looking at a potential bearish shark formation on the GBP/USD. This trade will be heavily influenced by next week's British CPI release on 18/04. No general consensus for this announcement has been settled upon yet, but I believe this consensus will make or break the pattern. This will definitely be one to watch in the coming week!...
Back again with some more technical analysis. This time on what I believe to be an Alternate Bat on the EURCHF 4hr. I will be keeping my eye on this one over the next week.
Over the next few days I'll be keeping an eye on this bearish setup on the Pound-Franc.
Looking at the structure of the daily chart you can see were consecutive higher highs and higher lows have previously been made. We were now at a stage where price has ultimately ran out of steam and made a lower low (see below). Following the lower low we are witnessing the...
What's up traders, hope everyone had a good week!
Following my last set up on this pair (see below) I am now looking at a potential short position using the bat formation, using the resistance from the failed high of the previous shark pattern.
It is not often that we take a contradicting position after a successful trade, but in this instance the structure of...
Hello traders, it appears CHF/JPY has formed a bullish cypher pattern on the 15m chart.
This is an excellent long opportunity with a potential 1:2 risk to reward.
The measurements for a valid cypher are detailed below.
B: 0.382 - 0.618
C: 1.272 - 1.414
X to D: 0.786
As always keep your risk in check and apply sound trading knowledge to come to trading...
What's up everyone, today we have a shorting opportunity on NZD/USD with a bearish bat pattern on the 1h chart.
Excellent opportunity with over 1:2 risk to reward.
The measurements for a valid bat pattern are detailed below.
B: 0.382 - 0.50
C: 0.382 - 0.886
D: 1.618 - 2.618
Final X to D: 0.886
The ratio alignment for this setup is spot on, almost...
The million dollar question, does the cyptocurrency market solely depend on the success of bitcoin? To some extent, yes. It has the potential to cause altcoins to advance, decline or become stagnant for sustained periods of time.
I believe this is down to three simple factors.
1. The overall flow of money (entering and exiting the market).
The overall flow of...
