CADJPY is nearing the completion of a bearish bat on the 1 HR chart. In addition to this harmonic setup, the average period range relativity oscillator is forming a bearish Wolfe Wave at the same level. SL is placed above highs on APRR with target at the APRR WW target line.
APRR Shows weakness on the 1HR, selling on a break and close below TL2. SL above highs with target at .886 retrace on the APRR oscillator which is confluent with the pair's next strongest support line.
We are currently bearish and with a lot of room to go, next support is around 129.75. This cypher appeared at a good level of structure, giving us an opportunity to get with the trend
EURUSD is nearing an important zone, where ADR levels meet MA's, trendline fan levels, and structural support. This is an opportunity to ride the trend up to the 1.3 area with a tight stop if the pair drops further. Happy Trading! GM
This pair has been trending down on the daily chart as shown by the D1 EMA/SMA's. Strong bearish impulse down shows weakness in the supporting trendline. This setup will capitalize on a breakout down into the completion of a bullish Gartley pattern.
We have been in a downtrend and have broken many structure levels, so I immediately think bearish. The "Kill zone" Have been tested two times and each time it pushed the price lower. We made a lower low lower close (L3C) and now we are going back to that structure level. In theory one could enter right now and would still be a TCT trade. However, the R/R would not be good.
The Euro is still one of the main pairs on my trading radar as it has been all week. Although we've yet to reach the level where I have buying interest we have been able to take a few bearish day trades in anticipation. (If you missed my rant yesterday on the USD Bulls and the game they played during the FOMC yesterday make sure you check out yesterday's...
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If the market extend and form a higher outside return, there is a Butterfly completion alongside a AB=CD completion at 1250. So far this pair provide us a lot of summetrical moves and maybe is going for one more.
EURJPY has been trending down for a while now, and has slowly been diverging away from the major trendline. Afterthe formation of a strong secondary trendline, the market has been putting in lower lows, and has recently formed a double top at the boundary of this secondary line. It looks as if the pair is head down towards the 119 levels, with stops above 124.00.