See Chart, looking for long then short.
Simple trend continuation trade: 1.272 AB=CD See Chart.
Here the Dollar Swiss seems to be following the same movement as it did previously. We have a reversal off of the .382 retracement with price consolidating in a rising wedge pattern. If the pair continues downward I will target the 1.272 and 1.414 extension of the most recent bearish impulse leg.
The dollar yen has been respecting the .5 fib retracement. Here I expect the pair to respect the .5 fib level, or make a deeper retracement to the .618 fib level which converges with structure.
EURNZD is presenting us with a nice opportunity to sell the pair after it has completed a harmonic AB=CD pattern. First target will be the 1.272 extension of the MOST recent small bearish impulse, and second target will be the . 382 retracement of the AD impulse leg: a level with strong confluence with structure.
I expect this pair to reach the 1.272 extension of the AB impulse leg, or reach the 1.414 extension of the AB impulse leg, thereby completing the AB=CD harmonic pattern. Price is trading within a descending channel, so I will continue to sell the pullbacks. Goodluck!
Here we can look to short the dollar after price was rejected at the .618 Fib retracement after making a double top . Although this rising channel is still intact, we can sell the retest of structure if price manages to break the ascending support line. IF this channel is broken, I will target the 1.272 extension of the initial bearish impulse leg: a level with...
Here we have an opportunity to sell the EURCHF after the neckline or ascending support is broken. Initial target is based on daily support levels looking left, and secondary target is based on the price range of the head projected from the neckline. This area also finds confluence with support looking left. Goodluck!
See Chart
AUDCAD is presenting us with an opportunity to sell the breakout of a bear flag . We have multiple other signals that suggest further bearish movement: 1. Reversal off .5 fib retracement 2. Smaller broken and retested bearish flag inside of the larger channel. Please comment, like, and follow me for more ideas!
AUDUSD is presenting us with a nice opportunity to sell the retest of structure. We have a very nice broken bear flag , as well as a clear reversal off of the 50% retracement of the large bearish impulse leg. If we manage to break the 0.686 level of support, I will be targeting the 1.272 and 1.414 extension of the bearish impulse leg. The 1.414 extension of the...
Here USDCAD had completed a harmonic AB=CD Pattern, and has reversed off of the 1.618 extension of the AB impulse leg. I expect the pair to retrace to the confluence zone between the 38.2% retracement of the AD impulse leg and horizontal resistance level. From here I will look for further shorts
Here we have a nice opportunity to sell USDCAD and anticipate the completion of the harmonic AB=CD pattern, where the D point of the pattern converges with the 1.272 extension of the recent bearish impulse leg
AUDUSD is giving us a nice buy opportunity after a clear rejection at the .382 fib retracement level. Target is based off of the 1.272 extension of the most recent bullish impulse--a level that converges with structure looking left.
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Please read chart
Please read chart
USDCHF is showing signs of further bearish movement. As you can see price has currently found resistance at the upper level of the falling channel creating a double top reversal pattern. Additionally, we have a significant ascending support line (blue) that has been broken to the downside. Overbought RSI with clear divergence also suggests a trend change. ...