Price seems to be within an ABC pullback. It made a HH , consolidated forming a triangle pattern, and it is breaking and retesting the pattern. I see overall weakness in the pound that is why this is just an in and out play
ABC Play, quick in and out long with a 2:1 Rw/R ratio.
we have a HH followed by consolidation and a kind of a triange pattern with price rejecting support 3 times in a row.
Target being the 1.27 fib extension of the whole movement.
-week HH, potential double top
- ECB Interest rates release later today may cause high volatility (however interest rates...
Daily morning star at a key weekly and daily support level. Intraday MACD divergence and an intraday trend change with prices making HHs on the 1H chart. Price also reteting key support at the 1h EMA which coincides with the support zone at 1.19.
Safest target is R1. Riskier target being 1.2
This pair is overextended and at a major support on higher timeframes. It is forming a wedge and rejecting support at 0.76. I am playing the pulback to the 0382 fib level at around 77.15 due to the good momentum that is kicking in right now
OIL is in an over extended Run, losing momentum and showing MACD divergence in all time frames, price broke the daily Trend line and is now making intraday Lower highs and lower lows: Intraday trend change.
Then we have a H&SH pattern which is visible in the 4h and 1h timeframes. Price broke below the neckline and it is retesting it now. which coincides with a...
The CAD looks bearish across the board.
Break and retest of a wedge pattern formation. Multiple onfluences across 1h, 4h , daily and weekly timeframes.
First target at a resistance cluster at the 1.681 area. I will look to bullet proof if that levelholds.
Second target being next weeklyarea at 1.775. I will probably exit earlier if the 4h chart stars to...
Long trading idea. Beautiful morning start formation on the monthly chart with gives me a bullish bias.
Price pulled back to 0.5 fib and 1.27 support, forming a descending wedge continuation pattern and then breaking out to the upside with a bullish engulfing on the daily.
Decent R/RW to next weekly level at 1.32 But I will close it down early if daily starts to...
Price at a major resistance. Daily deceleration and a high test. Intraday H&SH within a bigger wedge. Price broke below the Trend line and below major intraday EMAs. I am targetting the next daily level at 112, however I may close it early at the 1.618 fib extension (113 level) if price rejects that area.
Beautiful H&SH forming + a bearish flag formation that was broken to the downside and then retested intraday. There is room to go to the next key area of support at 1.15 for 4/5% risk/Reward. On the fundamental side of things, USD seems to be picking up momentum after a tax reform plan was revealed.
USD dollar showing strength across the board, with the DXY forming an inversed H&SH patttern. Along this line AUDUSD is showing bearish momentum form the daily time frame. Thus a trade short, targeting next fib extension at the 0.775 level which is also major area of support & resistance for this currency pair (0.775-0.77).
Pivot was broken to the downside with good momentum and 0382 fib was also rejected.
This is a quick 1:1 trading idea. I am only targeting recent open and close prices due to 4H timeframe still looking a bit bullish, but I think this has potential to go much lower. The only reason I am going with a quick in and out trade is that I am waiting for higher time...
short momentum play down to S1 offering a decent R/RW. It may be good enough to push it further down since price is forming a H&SH pattern on the daily timeframe...however with NFP being tomorrow I wouldn't want to risk being stopped out due to volatility..thus it's a quick in and out for me.
This trade has the potential to go quite far to the downside. I am playing the 1H H&SH formation to the downside and I will monitor this trade as it reaches the 0.725 level. If price break below that level with enough momentum I will consider holding it further down.