USDJPY CURRENTLY IN A PERIOD OF CONSOLODATION FOLLOWING RECENT BULLISH MOVE,
PRICE IS NOW GEARING UP FOR THE NEXT MOVE I AM MORE BIAS TO THE DOWNSIDE BUT WE HAVE TO BE OPEN TO BOTH POSSIBILITIES WITH NFP ON FRIDAY ANYTHING COULD HAPPEN BUT DEFINITELY ONE TO WATCH.
Following GBPUSD steep decline from 1.50 following Brexit, Price crumbled down to 1.20/19 were price consolidated for a period of time having multiple rejections of 1.20 which cause price to form a Triangle Pattern which causes a accumulation of price as buyers and sellers fight for the next move up or down.
GBPUSD broke to the upside of the Triangle and is...
- bullish price action (higher highs and higher lows)
- potential 50% and 1.0 round number past resistance going to be tested as support7
good risk management
will look for bullish price action at this level.
USDCHF WEEKLY TIMEFRAME
-price failed to close above weekly highs of 1.03300 area and has now rejected.
- however the weekly bearish trendline which was broken 2016 November along with the box range price was consolidating in is a high probability area for a standard breakout retest continuation scenario
- I will be monitoring price around the 0.99/98 level for...
Perfect Example of how the market moves in waves and a constant battle between Bulls and Bears.
Here we have USDJPY 4 hour chart showing us perfect examples of lower highs and lower lows indicating a bearish market.
how do we determine when to enter a market is the hardest part for new traders.
Using the Fibonacci Retracement tool we are interested in the C leg...
my potential price playout for US30
From my price reviewing US30 has gone down 8/12 times in past January Period before continuing to rally for the remainder of the year.
technically price is making higher lows on the weekly timeframe.
currently the daily is held within a price range were if we get a bearish close outside the box Im expecting the price to drop...
AUDUSD for me is forming a inverse head and shoulder which is reversal pattern and due to recent Fundamentals regarding USD i can see how technicals are aligning with this.
we had a bearish wedge formation on AUDUSD in a downtrend which indicated price wanted to push higher. which it did and broke out and formed a nice bullish run to a resistance area.
EURUSD has recently broken the weekly bearish TL to the upside so am expecting bullish momentum up until 1.08/09
overall market is still bearish while inside this monthly range expecting new lows to be made once the bearish FIB Retracment come into play will look for price action around 1.08/09 area before looking to go short EURUSD again.
USDCAD DAILY SETUP.
-Price is currently in a bullish channel with price making clear higher highs and higher lows as shown
-Price also has reacted of the 78.6% Fibonacci retracement area
- Added confluence also is the weekly resistance turnt support at the 1.32 region which price has currently rejected off
-Pin bar also formed of the Weekly Support which...
Is displaying a sequence of lower highs following this current downtrend as highlighted.
We also have a current Bearish Fibonacci Playing out on EURUSD with rejection of the 50% area with added confluence of a bearish trend line
RISK 150 PIPS FROM EP
REWARD 300 PIPS FROM EP
R/R 1% -2%