Audjpy has broken the neckline of long moving up trend. Breaking candle is nice and long. Retest will be at a strong local nice and a nice fall can be seen from there.
Major resistance at 0.79950 - 0.80016 Zone; Fibonacci Retracement Level 0.236 - 0.382 - Probable retracement back to minor support zone at 0.7980. Looking forward to see how this one plays out with current downtrend.
On December 20th I posted an idea for a long position in AMEX:TBF based on the likelihood of the asset breaking out of its long-term downtrend and short-term wedge pattern. Here is the link to the original idea:
Today this breakout is taking place and I am initiating a long position in TBF. Given the technical backdrop and the fundamental/economic drivers, I...
Gold broke through the downsloping trendline, I now expect a retest of the former trendline, a test of the 23.6 fib level or one of the recently formed upsloping trendlines. If these levels hold as support there is a big upside potential on this asset.
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Happy Trading!
First entry will be a trendline breakout on 5m/15m Break-Hook-Go
Second Entry will be with a sell stop at previous fractal low @ 130.91
TP is current fractal low @ 130.60
I'm going to be patient for this one, price has broken the trend and retested, however I'm waiting for a Moving Average crossover as I might get caught out by ranging price action.
I'd say the 0.5 Fib level would be a good place to put a TP, but if you're feeling adventurous you could go for the upper resistance around the 100% Fib range.
MARKET FORMED A 4H DOUBLE TOP & WAITING FOR CONFORMATION OF TREND BREAK TO TAKE SHORT . ..... LOOKING FOR A 90-110 PIP DROP HOPING FOR A BREAK IN DAILY SUPPORT .
After the bearish cypher pattern is close to completing its 38.2 retrace, what's next? Right now it's at an interesting point as it rests on top of the downward trend channel and takes a breather. Quite simply we need to wait and see but it's certainly an area of interest. I'll be looking to price action to look for a good entry either way.
Consolidation Rectangle Breakout and Trend line breakout confluence.
Short to key level.
CAD to strengthen following oil price increases.
Wait for retest of rectangle
USDJPY have been trending then breaking trend for the past few days. Expected to crash down to previous support, then possibly another consolidation for a day, then another crash.
