OANDA:CHFJPY
For the moment they are from this pair of currencies where the indicators and strands of the butterfly and the wave of elliot have reached the end of the control received by the sellers but it remains only to see how will close the last candle and look at the Asia exchange that will open for a little ore
Today, I'll be starting on technicals and end off on various fundamental factors.
So, starting on the 4HR timeframe, we've seen a range of lower lows and lower highs being created with our most recent lower low being formed around the 1.82600 price region. We are now of course, anticipating a lower high to be formed in continuation of the downtrend. The daily and...
SMP TRADING
SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY
Chart time frame - H4
Timeframe 4 - 16hrs
Actions on -
A – Activating Event
Market will meet resistance in zone @0.711 - .... and fall to the 0.705. In order to enter, the pair MUST be in line with my Entry Procedure....
B – Beliefs
Market move towards the first Target 1 level @ 0.705
FX:AUDCHF...
With the DXY in a crucial area laying in line with the 78.6 % Fibonacci level as well as a potential head & shoulder pattern, we may see this pair shoot to the upside. However, we have breached the descending trend line and closed above. This may be a false breakout or we will see a break & retest to push price higher for the USD. If the latter occurs, we should...
After seeing price in a clear bear trend since late January, we have finally seen a break & retest of the descending trend line, pushing price close to the daily resistance of 1.04500, creating a new higher high which of course should follow with a higher low. I have hi-lighted the triple spinning tops as this indicates price exhaustion and a reversal /...
Have had my eye on this trade during the weekly, long term I have a long bias and usually I would be looking for buying position. But certain moves in the market have suggested to me that the pair are likely to trade bearish for the next 1-3 weeks and so I will be looking for shorts in the short term to enter with and monitor from the daily chart. Will see how...
Its been a while since I've looked at the precious metal, Gold. After consolidating between the 1280.00-1290.00 price region, we finally saw a break to the upside. We've steadily been climbing, breaching the weekly key of 1292.25, we then saw slight consolidation around the 78.6% Fibonacci level building up buyers liquidity. This saw price bounce higher, breaking...
After seeing a series of higher highs and higher lows in a corrective ascending channel, we've now seen a lower high made which could potentially break structure. This was also the 3rd touch off the descending trend line around the 78.6% Fibonacci level. We then saw a break & retest of the ascending channel off the 61.8% Fibonacci level giving us the perfect entry...
Good to be back, had a slight break from the charts & articles this weekend but we coming in full force this week!
Beginning with news this week, we can expect a lot of volatility to be seen for the Pound as we continue with BREXIT votes , as well as we will be seeing data releases for the Average Earning Index first quarter, retail sales, CPI data and the...
Last night we had exciting movement from cable, seeing price bounce off a daily support/resistance region. The main catalyst being PM May's visit to Strasbourg yesterday where it was rumoured she had gained assurances from the EU. However, as of today it is evident she was unable to win over the Government & Members of Parliament, with the governments chief legal...
Okay, so not a pair I usually trade or analyse but it was requested and I humbly accepted.
So we can see bulls are in control at the moment, I see an upside move of around 80 pips before we can see a good reversal zone met. I will be looking for the descending trend line to be respected between the 71%-88.6% Fibonacci zone. This will also be a good rejection...
Good old indices.
Okay firstly, so looking at the weekly timeframe, we have a potential head & shoulders pattern forming which will allow the bears to take over the market.
Dropping down to the daily timeframe we can see we broke out of an ascending channel and currently we are retesting it. If we can close below the counter trend line, we should see downside...
USDCAD has seen Higher Highs ( HH ) and Higher Lows ( HL ) being made on the Weekly and Daily timeframes for a good while now with 1 or 2 Lower Highs / Lower Low fake outs to pull sellers in, however this pair remains bullish. An Inverse Head & Shoulder pattern can be seen on the Daily timeframe which was formed aggressively on the 1st of March. This broke a...
