According to my wave count I can see the pair edging higher and potentially retesting the 1.8000 level which also acts as a psychological level. We also got a breakout of what seems to be the total / partial correction of wave iv I would be looking to lock on profits as soon as the price reaches the highs of wave iii in the case that we get a truncated 5th wave...
I wish I could have posted this with the 5-minute timeframe because patterns appear clearer there, but to my realisation you actually cannot post something less than 15M, which does make sense, although Educational posts should be allowed to do that in my opinion. Anyway the purpose of this post is to basically demonstrate that intraday, or day-trading timeframes...
Still cannot know whether the underlying asset will be turning from the 1.382 / .50 or the 1.618 / .618 but there is a strong confluence on both levels which makes me believe that one of them which prove to be a a key reversal point. Also judging by the strong correlation between 10-Y yields and the DXY which is also nearing a major reversal point we could in...
After the pair keeps plunging it's almost clear that we have a change of structure. On the M chart previously posted I was considering the correction to be complete but it is apparently not the case. We're looking a much longer and slightly complex one. For the near short term we could be getting a retest of the recently broken structure level at 108.10...
The pair is forming a flag pattern (and hopefully not a falling knife) after a strong impulse, so we could be getting one more impulse to the upside. On top of that we may have gotten a nice inverse head and shoulders should the pair not break down from the flag pattern. Looking at a retest of the 1.7825 level which is a key structure level too. My personal...
Reasons to buy: 1) Inverse H&S 2) Inverted hammer on a key structure level (have to wait for Friday close to confirm that) 3) Daily Stochastic oversold My personal details: Long @ Entry: 16.35, SL: 15.80, TP: 18.50 For risk and money management purposes, always determine a max. of 2% risk on every trade. For example on a $50,000 account, this would be equivalent...
Reasons to buy: 1) Inverse H&S at the bottom of a downtrend 2) Bullish 1H Divergence 3) Forming a descending wedge after a strong push up My personal details: Long @ Entry: 1.1547, SL: 1.1500, TP: 1.1685 For risk and money management purposes, always determine a max. of 2% risk on every trade. For example on a $50,000 account, this would be equivalent to 1,25...
Textbook inverse head and shoulders so we could be seeing a retest of the 118.00 levels as a first longer term target. With the DXY having reached 3 year lows we could potentially start seeing it correcting, or even reversing to the upside which in terms mean a rise for this pair. We can also see a nice flag formation which could be towards its end. My personal...
Expecting the pair to push down all the way and retest the 0.6800 psychological level which also coincides with the 78.6% retracement of the previous impulse (see updates section) It's giving a nice triangle correction, and triangle corrections tend to precede the final actionary wave so this would make perfect sense as we're setting up for wave no.5 even though...
Reasons to buy: 1) Inverse H&S complete 2) Bullish divergence on the D Timeframe 3) Showing weakness on the 61.8% but could potential push down to the 78.6% before the upside move My personal details: Long @ Entry: 1.5220, SL: 1.5140, TP: 1.5700, RR: 6 For risk and money management purposes, always determine a max. of 2% risk on every trade. For example on a...
The pair has been correcting since September of last year, into what appears to be a rather complex structure, but there is evidence making me believe that it could be over, or that we could at least see some upside for the time being. Reasons to buy: 1) Shooting star on the Daily timeframe 2) At a key price level (look to the left) 3) Daily Stochastic...
If it is indeed a normal flat correction, legs a and b have already been completed and we'll be looking to catch the final leg, leg c of the sequence. Pair is showing signs of weakness at the top as well as bearish divergence on the Daily timeframe. My personal details: Short @ Entry: 1.5340, SL: 1.5440, TP: 1.4820, RR: 5.2 For risk and money management...
The price is currently retesting a pretty strong level @ 2.54-2.65. There is a lot of evidence making me believe we could be seeing a strong move back up to the 3.38 level. 1) Weekly Stochastic Oversold 2) Shooting star candle on the Weekly 3) Price has completed leg B of a potential Flat correction of the most recent impulse down. 4) Double bottom My personal...
Is it time for the US Dollar to start regaining its strength? Strictly judging by my own technicals I'm seeing a potential reversal point around the 87.62-87.78 range where we see a strong confluence of a the 50.0% Fib retracement and 161.8% Fib extension.
I will be posting the Monthly view of this pair as well to show the bigger picture but there's a lot of evidence that makes me believe we could be seeing a huge sell-off. We're currently forming leg C of what I believe is a simple Flat correction. Furthermore Leg C sometimes comes in the form of an ending diagonal which is what we're seeing now and we are...
I know I could have posted this simply as an update to my previous EUR/NZD chart which states LONG bias on the Weekly chart, but I felt like this was a setup worth posting individually. While the Weekly chart is still valid, we have a good enough short setup at the moment. The pair has formed a Head & Shoulders setup on the 4H which indicates some selling...
The pair is still correcting from the most recent impulse down. As of now it has completed legs A, B of what I believe to be a Zig-Zag correction. Should it break the trendline then we start looking at a possible Flat or Exp. Flat correction but the pair is showing signs that it could be going up for the time being. 1) Weekly Shooting star at a confluence with...
Not much to say other than we could be looking at the pair to go back up to the 1.7475 level. Reasons to Buy: 1) Hammer candle on the Weekly TF 2) Double bottom at the retest of the broken structure level 3) Weekly RSI oversold 4) Daily Bullish RSI Divergence 5) D + 3D Bullish Engulfing Wait for a pullback in the shorter TFs such as the 1H before buying in...