Price have already been rejected on Friday but there is still some momentum to the upside in place. RSI is going overbought. Action: wait for a double top or some bearish candle formation to short
Market re-tested the daily resistance zone and failed, resulting in a bearish pin bar in H4. Two options in my plan to short this pair: (1) Enter at market now based on the bearish pin bar signal rejecting the daily resistance zone. (2) Wait for further retracement up for deeper re-test of the daily resistance zone and the re-test of the low of mother bar. My...
EURJPY just broke out of Triangle pattern and made a retracement back to triangle structure. Expecting price to make another strong upward move. EDIT: Meant LONG
Looking a a structure based long opportunity here as price actions looks to retest previous structure support. We've got a combination of multiple harmonic moves lining up with a Fibonacci cluster and of course structure looking left. As of now I'm waiting to see how price action reacts within this zone before committing to an entry.
Market seems to have stalled around 2000-2010 level. Bearish pin bar formed at this key level. This may be due to profit taking on Friday before the weekend. Or this may be the beginning of a reversal/correction. RSI is showing bearish divergence. Word of caution: This is counter-trend, and it is counter to a super uptrend. The potential risk-reward ratio may...
Overall trend and momentum is obviously bearish on the daily chart. There was a pin bar formed at key resistance zone yesterday, rejecting that zone nicely. Everything lines up nicely for a short - TREND, LEVEL, PRICE ACTION. BUT. This is a big BUT. There is this Scotland Referendum today. No one can know for sure the outcome of the poll. This kind of event can...
In the daily chart, we can see that price has surged up from Monday's pin bar at key support zone. In H4 chart, we can see a break of the double bottom's neckline. Will the market retraces to 61.8% level for a 2618 trade setup? If market retraces to that level, it is also re-testing the high of that Monday's pin bar in daily chart providing us with a second...
Gold is now dropping to a significant structure.. A structure level that has been maintained since 2010. We have a bullish advanced pattern (Gartley) completing at an important structure level. Agressive traders might look to set a limit order, more conservative traders will have the choice to use the "Buy Area" and look for bullish PA or a smaller bullish...
We can see ABCD pattern in H4. The D point was completed near to the daily support zone. The other confluence is the false break of the support zone (look at the long wick bullish candle which completes point D). Entry, stop loss and target are on the chart. Note that there is also a potential bearish cypher pattern with potential completion around 1.1238. I did...
Recorded a video of this trade to my Synidcate members earlier in the day but ran out of time to post this before my Live Room started. But with not a lot on my radar this morning AUDCAD was a pair that really stood out to me. Not only has the market put in a beautiful double bottom along with bullish divergence and the RSI being oversold. But we're also right at...
This is one of those trades that most persons will love, the type that jump out at you. Price moved last night from the previous high 61.8 retracement and fell exactly to the 1.27 extension. then we are now having a pull back. Measure AB=CD and you will find that price lines up exactly at the 1.618 extension. know this about AB=CD, they always complete, i don't...
We will see in 20 mins if this is valid double top or not.!!!! SL = 1ATR TP1 = retest of structure TP2 = retest of 2nd structure Entry : Double top RSI Divergance MAJOR MAJOR structure on daily Hanging man
The dilemma goes ... to short Gold or not? On the one hand, it has created new lower lows and lowers highs keeping the downtrend intact and offering a few but new shorting opportunities. Currently it has retested the ~1276 area and bounced off the 10 ema with a bearish close below. The session has been dominated by sellers but does this hold to continue sinking...
The salient characteristics for entering into a short position on USD/CHF on the 60 minute chart have to do with a pullback in play on the daily timeframe. Price action, on the daily chart, has hit resistance at ~0.9210 and is overextended above the key moving averages. RSI shows bearish divergence. Additionally, price has touched the Fibonacci extension level of...