CHF/JPY looks like it could be providing a decent opportunity to enter long based on the current technical analysis and price action.
Price broke out from a weekly descending trend channel in Late-July suggesting that the downwards trend is coming to an end, at least in the short term.
With our overall bullish bias, price has also now broken from a daily...
Is this a confirmed EU USD break out of a 10 year downtrend?
The trend line connecting the highs since 2011 seems to be broken to the upside at the end of last July.
That was about time considering the RSI (below) and price divergence developing for the last 2 years.
How many weeks it may take to get to a 50% retrace from the May 2014 high to the low of...
bull trend is starting to slow up and looks like it is starting to range. moving sideways as soon as we have a break of the up trend i would like for a bearish push then i sell sell the retest of the support as the new resistance. i would like a minimum of two trades and then i would look to add to profits and wait for the push to the demand zone.
GBPCHF has broken the bullish trend pattern at the end of last week and had a strong rejection of the line after a retest, I'm now looking for a slight correction up to 1.84000 with the RSI being oversold on the 4HR, then a continuation of the downtrend.
I will be setting a sell order at this level when the markets open
Looking at a possible short for AUDJPY, price has just broken out of an ascending trend line and is approaching the retest. This also lines up with a key level of structure which has formed a double top formation. If rejection does occur and we get entry confirmations I would be looking at a short opportunity targeting the 68.92 zone.
Bank Nifty is weak. It has recently broken the uptrend maintained in the past few weeks. However for the next 2 - 3 days a upside move is possible to be seen only to witness a greater fall in days following it.
Stay cautious and downsize your positions.
Wait on the 30 mins chart for entry the longer you hold after entry the longer your at risk
so I usually take profits at every zone but you have the potential to game way more pips if you have the patience to with stand the pullbacks
All comments and likes are very appreciated.
AUDUSD has been trading in a downtrend for quite some time. At this time we track 3/5 waves down with a possibly finished correctional wave 4 in ABC pattern.
AUDUSD bounced back from a resistance level...
Cup and handle formation playing out on USDJPY 4H timeframe, leaning towards continued shorts.
Handle is currently taking formation after breaking a 1H upward trendline as seen on the chart.
Sells can be found immediately or upon retest of base of the cup and handle formation, which could potentially see +200 pip take profits.
Always trade cautiously and with...
On FX:GBPAUD we can see a test on the 1.95 level for the second time, being the first at the end of March, and this last test formed a bullish engulfing pattern with a shooting star . It is now breaking from the downward trend it has been on April.
Plus, on the 1H chart the 20 EMA is almost crossing the 50 day EMA . And the MACD is showing...
Quick message to say keep a tight stop loss...
Things were looking great until recently. Today we saw ETH 7 week ascending channel break and currently looks like it has converted the bottom of channel into resistance now. Whats worse is that BTC broke down out of its channel several days ago and appears to be forming a descending channel now. One thing we can...