On FX:EURJPY, the market is not trending and it gives an opportunity to advanced pattern traders. There is a support at 113.909, the market respected that price again and it is more likely that it will do again. We are all aware that big trades are placed at key levels like this support. Bat pattern appears on 1H chart and it gives the exact point where to enter...
NZD/USD Weekly perspective. Simple Weekly fib D2 extension confluent with resistance. Also if you check are NZD/USD daily post we also have another fib targeting the same resistance therefore this is are next target for NZD/USD Only looking to long this pair waiting for the perfect opportunity patience pays!
NZD/USD OUTLOOK. NU finally broke above the 0.68736 level giving us a nice break retest this week. Added a fib retracing to the 78.60% level. Will be watching closely on market open for a pull back to execute a long to D2 extension (61.00%) level witch also is confluent with historical resistance 0.72315. If we do not see a pullback and my trading plan is not...
On FX:EURUSD, the market not trending on hourly chart. The price formed triangle (it can be pennant in the 4H bars), it means not bears nor bulls are in control the price. It is consolidated and we have to wait the perfect moment to see who gets the control and trade on their side. In this point, wait for the breakout confirmation and then...
Finally a win.
Weekly was making lower highs and lower lows - great downward trend.
Downward trend had broken then longer term underlying monthly up trend.
Took the trade off the 4HR - Saw a mini head and shoulders pattern emerging and thought Id risk getting in early and the formation of the top right shoulder.
-We are now down trending on the 4 hour chart
-We always want to trade in the direction of the trend
-We are making lower lows and lower highs
-We are trading below key level at 1.4000 Which we broke with a strong downside move
-If we put a Fib in from previous Lower high to the new Lower low price is reacting to the 0.618 Level
-Sign of retrace...
-Firstly on the 4 Hour time frame we are up trending
-There is a major trend line above us so therefore i believe that is prices next level before any bearish movement
-We are making higher swings after coming down to our Trendline below price which is acting as support
-We have clearly seen a reaction from this trend line acting as support as you...
-Firstly as we can clearly see we are in a Triangle formation
-We have had multiple bounces from the Bottom trend line which is now acting as Support
-The previous Four hour candle was a doji on the trend line
-Now this 4 hour candle stick is forming a nice big bullish candle which signifies Bullish momentum from Trend line acting as Support
-We formed a triangle formation having multipale bounces on either side
-We broke to the upside
-We have got our retest which is key in my strategy and has put in bullish movement
-Price has put in bullish hammer and then followed by two strong bullish candle clearly showing momentum to the upside
-We can see 3 bullish candles we are in...
-Firstly we are forming a triangle
-We have just bounced of the trend line with a bearish engulfing
-Also a bearish hammer has been put in place
-We also tested this area a on Thursday and rejected this zone there fore i believe it will do so again
Price action leaves clue in structure :)
If we go to the daily Timeframe we can see
-Lots of long...
- We are clearly up trending
- We are putting in higher highs and lower highs
- We are getting nice swing highs and structure
- Previous 4 hour candle was a bullish hammer (Bullish candle)
- We have nice long wicks to the downside which signals more buying power
- We are above key level of 0.75000
- We put in a huge Bullish engulfing last...