Cohiba93

Cohiba93 Updated 

Hey all, I've given this pair another look since my last analysis on USDCHF very recently hit its final target. Following that last target, we can now see that the price has been consolidating in the area between the 0.382 and 0.236 levels on the blue fibonacci retracements. From here, the price can push up through the 0.382 level to test the upper level of the...

Cohiba93

Hey all, I've mapped out the potential completion of a bearish bat pattern that should signal a reversal for this particular pair. I'm setting the entry just beneath the 0.786 level of the larger Fibonacci retracement so that the movement can be confirmed to be reversing. Following the entry, we have 3 potential target areas that the price might be headed towards:...

Cohiba93 Updated 

Hey all! What we can see here is a very clear channel that the pair has been trading in since the Brexit vote almost one year ago. From this, we can use fibonacci retracements to outline very clear and distinct levels that the price is using to bounce off of. As of today, the price seems to be entering a rather important decision point where it may attempt to...

Cohiba93 Updated 

Hey all, what we have here are signs of a potential rising wedge formation on EURJPY due to the higher highs and higher lows being formed since the 18th of May. Fibonacci levels applied on a larger timescale seem to show the price working well between the 0.5 and 0.618 levels - an idea supported by the recent rejection of a new high on the 16th and on the 24th. If...

Cohiba93

Hey all, if you've been following most my trades then you might have picked up on the fact that I primarily work with long-term strategies, but I thought I'd share this short-term idea in the event that some of you prefer shorter-term strategies. What we can see from the extended view is that this pair has been in a descending channel for quite some time, and very...

Cohiba93 Updated 

Hey all, it's been a quiet couple of days as I've been closing some great trades after having already met my monthly goal. Despite that, I think it's always important to monitor the market for future ideas that may develop when we're ready to trade. CADCHF is showing some signs of being a potentially "safer" medium term idea that should come into play within the...

Cohiba93 Updated 

Hey all, the past few days have been quite slow as I've still been holding a few positions from my earlier ideas but I thought I'd share my thoughts behind this one. I've never traded this pair, but I drew out the formation of the falling wedge quite a while ago and knew that the Euro's recent massive surge must have broken through it. This is a very interesting...

Cohiba93 Updated 

Hey all, big trip coming up this week so I decided to post this idea a little earlier. If you've been following some of my ideas then you'll know i'm a big fan of this pair - even if it hasn't been too cooperative with formations. I've noticed the USD settling in following Trump's presidency (despite the odd statement that makes it go haywire), so here I'm...

Cohiba93 Updated 

What an ugly chart! I'm still waiting for a few ideas to hit their particular orders - and this is one of them. What we have here is a descending channel within a larger ascending channel. These are particularly great because you know for a fact that it's either going to bounce off the channel wall and push up or break the channel for a huge dive. As always, I...

Cohiba93 Updated 

Expanding on my previous idea of apparent Double Top formation on this pair, I've gone into greater depth about the path that it might potentially take. The current trend that we can see the pair taking is outlined by the descending blue lines that form a clear channel. From this (and the overall double top), we can see that there is a higher probability that the...

Cohiba93 Updated 

Hey all! What we can see here is a potential three drives pattern forming on EURUSD. What tipped me off about this particular pair is the fact that the second drive featured a bullish move that hit the 1.272 retracement of the first drive almost perfectly (indicated by the orange arrow). So what we can expect to see is the third drive to hit the 1.272 retracement...

Cohiba93 Updated 

We can see a falling wedge forming on this pair starting from around mid-December, so this is likely foreshadowing a major bullish turn for the pair. There may be some minor consolidation at the 1st target, but I believe that the pair will rally back to pre-Brexit levels due to their independent economic strength. Of course this is barring any major news regarding...

Cohiba93 Updated 

Hey all! Everyone of us is aware that sometimes there are cold days without any apparent trends and sometimes there are trends and formations all over the place. Thankfully these past few days are of the latter category and I'm trying to share most of them with you all. Here, we can see the formation of a Head and Shoulders pattern on the daily EURGBP chart. As...

Cohiba93 Updated 

This is possibly my most-involved idea with many working parts - which in hindsight is less than ideal. In any case, we can see a rising wedge forming due to the higher highs and higher lows that this pair has been experiencing since mid-2015. From here, we have two distinct options: i) The price rallies back with a possible 'intra-wedge' play where it has the...

Cohiba93 Updated 

Hey all! I've been tracking a few pairs for a little while now waiting for them to 'cook' a little longer, and this is the first idea that has formed solid potential. What we see here is a potential inverse head and shoulders pattern on the daily chart that seems to have begun in late 2015. The price fell to form a new low forming the left shoulder, then rebounded...

Cohiba93 Updated 

Hey all! It's been a pretty quiet week so far but I've been patiently watching several pairs to see if any plans become more viable. EURCAD is one of these pairs and I was specifically waiting to for it to show signs of a reversal off of the 0.618 retracement. Now that it has done that, we can predict a potential bearish long-term ABCD pattern forming here -...

Cohiba93 Updated 

This pair has been on the rise since the outset of 2017 but that all seems to be coming to a halt within the week or so. This is thanks to the potential formation of a double-top pattern at the daily local maximum. Target 1 has also shown very strong S&R levels in the past year so expect the pair to experience some consolidation here before its drop to the 2nd...

Cohiba93 Updated 

We can see that this pair is hitting a key point in the ascending channel illustrated above where we can make a significant play of over 100 pips. This is supported by the formation of a bullish butterfly pattern on the 4h timeline. The yellow line is where I expect there to be slight consolidation before continuing its uptrend motion to the target marked by the...