ChrisSmithf0

ChrisSmithf0

GBPJPY has been with a Descending P wave for some time now. There is a consideration for both a Long and Short. Go long from the Demand Zone - stop below zone and target the Supply Zone Go Short from Trendline Resistance and take a tight stop to prior consolidation high , to target the Demand Zone. Nothing in between is much good , as it is a sea of chop.

ChrisSmithf0

Considering an idea where price is bounced of this intermediate demand zone. Then price to test the immediate supply above with a pullback to the 50 EMA. Waiting for a pullback after yesterdays impulsive move, would favour Reward. (5.8 R versus 2.8 R) . Trade on chart .

ChrisSmithf0

The AUDJPY has made a H&S pattern at the significant Supply Zone. Look for price to move to the Demand Zone. Trade is on chart.

ChrisSmithf0

On the intraday chart is a consideration of supply and demand. The demand zone has been tested twice, the second occasion has penetrated deeper into the zone. Considering a rally to test the existing Supply Zone, before a 3rd Test on the Demand Zone which is likely consumed, and to see a breakout. Recent pinbars in Demand zone 1. Pinbar rejection of...

ChrisSmithf0

Consideration for a Cypher Harmonic for AUDUSD. On chart are also 1. Supply zones with unfilled sell orders. 2. Demand zones with unfilled buy orders

ChrisSmithf0

As per chart , there may be a Bat Bullish Harmonic forming A short opportunity may be possible , with a break of the recent Pinbar Inside bar .

ChrisSmithf0

USDJPY in the 3rd leg of Gartley Harmonic. Furthermore , there is a Quasimodo setup with the orderflow. You can short to Position C. From there a long opportunity may exist to final point D.

ChrisSmithf0

Trade Suggestion on Chart for Harmonic Gartley. Price appears to be making the final leg of this pattern.

ChrisSmithf0

The GBPUSD is making an intraday H&S pattern which is nearing completion. Considering a short opportunity. 1. Entry - price to enter the 1.2185 - 1.2215 zone. Once there looking for selling pressure to enter. 2. Stop - 1.23 = any close of candle above this invalidates a reversal. 3. Target - Close of candle for the swing low around 1.1780 RR = 4+ Time...

ChrisSmithf0

AUDNZD has risen from a double bottom at the 1.03 level and has tested the long term structural resistance at 1.12. This is a ranging pair. They are closely related Commodity Currency's. There appears to be a H&S pattern on the daily chart. Note also Momentum has reached OS zone for RSI twice now. If there is a reversal , take a short 1. Sell on Stop -...

ChrisSmithf0

The USCCAD is at Major Structural Resistance around 1.30 . There have been 3 failed breakout attempts to the upside since Mid May 2022. As price has printed higher highs, Momentum (RSI) had shifted down. There is a divergence of PRICE and MOMENTUM. As a pattern It could be a TRIPLE TOP. Looking for a price break of 128 level for a move to test Mid Level...

ChrisSmithf0

This pair has encountered a Major Support Level, and has formed an Inverse H&S The trend is down and the sentiment is BEARISH. This is a countertrend suggestion. 1. Enter - near Right Shoulder Support level 2. Stop - beneath the swing low 3. Target - confluence of 50 EMA and Fibonacci .618 retracement. RR = 2

ChrisSmithf0

Gold has been in Accumulation Phase. The Range is defined between 1732 and 1747. It looks a lot like a Wyckoff Accumulation Phase. Why ? Volume is the Answer. 1. Climax sell - look at the spike in volume and consider who is selling big time. 2. Accumulation - through 111 bars. 3. Spring - look again at the huge Volume Spike = someone...

ChrisSmithf0

The Euro is struggling against most of the Majors. Presently it is ditch the Risk Currency and Buy the Safe Haven. With a recent Double Top acting as price reversal , and a break of support at 1.39, it seems that price may be looking to retest the next daily support zone. This would be the 1.32-1.33. Shorting from 1.3700 break might be possible or a retest and...

ChrisSmithf0 Updated 

EURUSD is in decline. A scenario is suggested for further movement to the downside. Considerations are 1. Time Cycle - using the recent swing low intervals and the past swing down high low cycle. 2. Price Expansion - V expansion ( based on the retracements of both cycles) The area of interest is on chart.

ChrisSmithf0

The EURO is getting hit from pillar to post. Price movement favors the downside. Look back and you will see what may occur again. 1. Consolidation - Past = 72 bars - Present = 64 bars 2. Trendline break - Past = 10 bars and 500 pips - Present = 4 bars and 480 pips. 3. Support break - Past - at 153.50 - Present = 143.20 The...

ChrisSmithf0

The US 30 index is making a channel down . After every impulsive wave , there is always a period of consolidation. So far 3 consolidations can be identified on the 4hrly chart. These consolidations are near the Kihon Suchi number of 52. The present consolidation is at 50+ bars. There is a rising probability of a breakout. One scenario is another impulsive...

ChrisSmithf0 Updated 

USD JPY is forming a P wave within a descending triangle structure. Trade in the direction of the breakout. Confirm the hourly break first. Long 1. Enter - resistance confirmed break (around 1.3510) 2. Stop - below triangle base (1.3470) 3. Target - swing high 1.3590 Risk = 40 pips Reward = 80 pips Short 1. Enter - break of triangle base around...