Bullish Wolfe Wave pattern with a projected Bullish Three Drives Pattern could potentially - if realized - finally break heavy resistance at the 115.600 level. For the moment a bearish a correction looks very likely - look at my previous post with a bearish White Swan Pattern on the 4 hour time frame - as a Doji was formed on Friday. Even if price breaks and...
A medium term bearish forecast followed by a long term bullish trend continuation analysis for GBP/JPY. Currently price seems to be in the process of forming a Falling Three Method candlestick pattern, as price found enough support at the 50 SMA. A rejection at 150.841 by the end of this coming week will probably set in motion the continuation of the medium...
Using a 12 hour time frame, I stumbled across a possible bullish trend continuation pattern emerging. With a close above 1.3483, next week may be bullish for this pair; also the RSI divergence seems to be indicative of a bullish reversal. Let's wait and see how this unfolds and hopefully get some long opportunities for next week. Happy trading
A shorting opportunity for USD/JPY, finally, however, patience is still key. Keep an eye on the USD index, currently on the weekly time frame the USD index is at the 78.6% Fib retracement level measured from 95.15 to 88.25, and for those who use the Ichimoku Cloud indicator, price is currently testing the bottom of the Senkou span, thus, a rejection there...
Bearish Alt Bat pattern for USD/JPY. Looks like a small correction move, finally, for this pair. Be cautious as the USD is still very strong. Wait for a close below the 10 SMA (blue line) for a safe(r) entry. Beware of economic data to be published tomorrow affecting the USD, as well as any news about recent halts of peace talks between North and South...
A three drives pattern for GBP/USD, illustrating future price action. At the moment, GBP/USD is obviously quite oversold and last weeks Doji formation on the weekly time frame was most likely a signal for a bullish correction move. Price formed a double top above and the projected measured objective of the double top reaches just beyond the 50% level, as well...
GBP/JPY seems to have found resistance at the 200 SMA above. If price closes below 147.844 the next target per measured objective from the initial bearish impulse leg is the 142.288 level, which would conveniently close the gap from Septembre last year. The bearish Wolfe Wave and the projected bearish trend line drawn from point 1 to point 4, indicates the...
Two Bullish Wolfe Wave patterns for GBP/USD. It is crucial for price to remain above at least the 1.2900 level to ensure long term bullish pressure should price go down that deep. If price remains above the 1.3458 level then I believe we will see a bullish trend continuation in the shorter term. It is difficult to say when price will resume a bullish...
GBP/USD Bullish Wolfe Wave and Projected Double Bottom formation. The Bullish Wolfe Wave is invalid if price closes below 1.3486. GBP/USD is quite oversold at the moment across almost all time frames, thus a minor bullish correction ought to seem likely. If price is able to remain above 1.3458 by the end of this month I believe there will be quite a rally to...
USD index and USD/JPY support and resistance correlation analysis. To be used with my USD/JPY projected Bearish Bat Pattern and Bullish AB=CD Pattern analysis. Happy trading
USD/JPY Projected Bearish Bat and Bullish AB=CD continuation pattern. With the recent rally of the USD, bullish pressure may still hold more in store. Absolutely crucial for bullish pressure to resume is the highlighted projected support zone between 107.975 (38.2% of AB) and 107.318 (low of Sept. 2017). If price does indeed finds support at those levels,...
A lucrative short opportunity for AUD/USD for next week. A bearish Alternative Gartley pattern has emerged on the 1 hour timeframe. Price has closed below the 10 SMA (blue line) but still finds itself above the 200 SMA. If price finds enough support at the 200 SMA a bullish trend continuation would definitely be in play. As always with AUD/USD keep an eye on...
GBP/USD Long Term Bullish Forecast Double top formation who's technical measured objective reaches the 1.3027 level below. Additionally an AB=CD pattern with a measured objective target reaching beyond the 1.55 level. Using the weekly time frame, I have depicted a possible bullish trend continuation for GBP/USD. At the moment price is hovering around the 61.8%...
GBP/USD Bullish Shark Pattern Finally a little reprieve for GBP/USD. Looking at yesterdays Doji formation just atop the 200 SMA, it looks like GBP/USD will retrace after a 2 week waterfall. However, be patient with your entries at least for this pattern on the daily time frame; obviously on lower time frames one could open long positions until price closes...
USD/CHF Bearish Max Bat Pattern A short opportunity for USD/CHF, however, be patient and wait for price to get rejected at the 1.000 level and close below 0.9887 at least before entering a short trade. It is very likely for price to continue higher before we see a bearish retracement. This pattern is valid as long as price does not close above 1.0227. Due to...
Long opportunity for gold. I have to keep this description brief as I have to get to a meeting. Trade Long Entry: Close above 1310.08 S/L: 1297/1300 (or as desired) T/P 1: 1322.27 T/P 2: 1332.46 (point B) T/P 3: 1344.02 T/P 4: 1355.54 Happy trading
GBP/USD Bullish Shark Pattern At last a viable long opportunity for GBP/USD, however, a little patience is still required. GBP/USD formed a nice double bottom on the daily time frame but wait for price to close above 1.3869, which is a 0.707 retracement of XA and the 0.236 retracement of CD, thus a Fibo confluence zone. Keep in mind that there will be GBP...
EUR/USD Bullish Shark Pattern Bullish pattern for EUR/USD emerged 90 minutes prior to ECB interest rate decision. Obviously with this in mind its probably best to wait until after the interest rate decision and the ensuing press conference. Trade 1 (RvR ratio 1.75) Entry: Close above 1.2192 (1.310 of XA) S/L: 1.2131 (ATR 1 below point D) T/P 1: 1.2254 T/P 2:...