Hey traders, just spotted this buy setup opportunity. Look for entry only when price gets above previous high on lower TF. There was a similar setup on the EURJPY that produced nice profits last week. Cheers.
USDJPY probed below the origin of the A wave and did not find sellers, so I'm suspecting the entire move down is the end of a B wave, an expanded flat. Great opportunity to long this pair with a tight stop and a massive upside.
USDCAD's rally ran out of steam, resulting in a H&S pattern breakout. Inside bar formed and broken to down side. AB=CD movement completed and instantly rejected at previous fractal level. Expecting swift movement to the 1.32 level to start next week.
NFP is coming out tomorrow and the market already priced in the employment figures after yesterday NY trading session. Typically this news release generate massive volatility with stops taken out on both sides so caution is warranted. Waiting for next week trading to resume before placing orders would be prudent. Also, next week there is a highly anticipated FOMC...
EURGBP made a sharp A wave followed by a less aggressive B wave, which gives a good indication that a sharp move is expected to the upside. Often the market tend to surprise traders, so I would wait for price to retrace and bounce off the broken trendline for a conservative entry. More conservative entry shown on chart. Good luck!
GBPJPY went through a huge sideway correction before revealing the triangle structure as the continuation pattern for price to head lower. High probability for market to start pushing lower early next week. Good luck!
AUDCHF reversed at the top and started a trend down. An apparent H&S pattern has been broken so there is a technical trade to the downside set up for next week. I would be patient for price to retrace back to critical areas on chart. Good luck!
GBPUSD is in a lengthy and massive consolidation phase, with waves going 100 to 200 pips in each direction. I am anticipating a spike higher to complete the B wave correction up that has the high probability to move very quickly, followed by an equally fast move down. Nice trades coming, good luck to all.
My prediction on this pair. Of course I don't just trade based on a prediction and this pair has produced a BIG buy signal on THIS time frame. Going back a few years, one could see that this pair produced a similar price action which resulted in an absolute vertical move up for about 9000 pips. The market doesn't necessarily behave the same way each time, but it...