Here we have a nice opportunity to short AUDUSD within the channl
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
Here I am looking to short EURJPY as it continues to follow its historic movement.
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.
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 ...
Here is a nice opportunity to short GBPCHF again with a similar pattern that I posted last week.
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.
Here we have a chance to sell USDJPY within a descending channel. After a period of consolidation, a smaller ascending channel has been broken to the downside.
Here we have an opportunity to short NZDCAD at the upper channel resistance. Price has consolidated into a wedge pattern, and I expect a break to the downside between the 1.272 and 1.414 fib extension levels (as seen on chart)
Inspired by @VasilyPonomarev On EURUSD we have a nice descending wedge pattern coupled with bullish RSI Divergence. Buy the breakout
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.
On USDJPY we can see a beautiful break and retest of the Head and Shoulders neckline This gives us a great R/R opportunity to continue to long the pair.
Read the chart, Divergence, Rising Channel
Here we have an opportunity to short GBPCAD after a confirmed break of the H&S neckline. GC has been trading within the pink channel for the past month. On a larger timeframe, GBPCAD is also at a larger channel resistance. If bearish momentum on GBPCAD is strong enough to break the pink channel, we should see further bearish movement to the downside
Inspired by @JamesEvison who caught the triple bottom and RSI divergence before I did. I wanted to suggest a few more ideas to support a possible bullish reversal. 1. Break of descending channel 2. On a larger time frame we see price has consolidated nicely between the .382 and .5 fib retracement level
Here we have an opportunity to buy CADCHF in a descending channel. -Clear Bullish RSI Divergence while price was consolidating within the wedge -Oversold RSI -Price touching large channel support On a macro level I still hold a bearish bias
On the Swiss Yen we can long the pair within the symmetrical triangle. We have: -Bullish RSI divergence: Rising RSI with lower lows on price -Descending bullish wedge -Support