On the Ausisie Kiwi we have a nice opportunity to sell the market targeting the .382 fib retracement of the recent bullish leg. This .382 fibonacci level displays significant confluence with the market structure looking left.
Price reversed off of the .5 fib retracement of the larger leg (zoom out), and with clear bearish RSI divergence, the market has begun a...
Here we have a great opportunity to short the Euro Swiss.
After a clear Double Top and bearish break of an Ascending Support with clear Oversold RSI + Divergence, we can expect the pair to continue its move downward.
I will look to sell the retest of the 1.142 level of structure--a level that has nice confluence with the . 382 retracement of the current...
On the Aussie Dollar we have a very clear bearish channel break to the downside.
Price reversed off of the .382 fib retracement level and is moving back down.
We also have a closed rejection candle on the 4H chart.
If price continues downward, my target will be the 1.272 extension of the bearish impulse leg.
See my previous post here:...
EURUSD recently broke out of a rising channel and confirmed the bearish flag pattern. After retracement between the .382 and .618 fib level, I expect the pair to continue downward movement. See my previous idea.
NZDUSD has formed a nice double bottom. I will look to open a long position at the .382 to .5 fib retracement of the current impulse leg, and my take profit will be at the 1.272 extension of that same leg, an area which has confluence with the .382 retracement and structure looking left. Goodluck!
Here we have a very significant level of structure at 1.13
Price has been in a strong uptrend, but RSI Divergence shows that the trend is weakening. If the 1.13 resistance holds, I expect price to retrace to the .382 fib level where we have confluence with structure
On GBPCAD we have a potential short setup based solely on Fibonacci levels.
After a large drop , price rebounded up to the PINK .618 Fibonacci retracement level , which coincides with the RED 1.272 and 1.414 extension of the recent bullish leg.
High momentum rejection followed and price moved down until it found support at the ORANGE . 618 retracement
On Swiss Yen we can see a clear double top rejection at the 111.95 level after price did a fake break of the descending resistance level.
First target is based at the .382 fib retracement, but I expect price to push down further after a retest of 111.7 structure level.
On EURNZD we have a nice inverse head and shoulders pattern where we can buy the retest of the broken neckline.
Additionally, we have a descending resistance that has been broken as well (shown in pink)
My final target is based on the range of the head projected at the neckline. This also corresponds with a previous level of structure.
Here we have a very nice opportunity to short GBPCHF for a few reasons:
1. After making a retracement to the .5 Fibonacci level, price has consolidated into an ascending wedge.
2. Furthermore, the structure of the larger, blue descending wedge is also providing a second level of resistance.
3. Finally, RSI is displaying clear divergence in the local uptrend.