Daniel.L

Daniel.L

Pinbars are a good sign of a pair rejecting higher prices. This in combination with other coincidences in the same area shape our bias and help to create our trading decisions. This time we have: + Continuation of the bearish trend. + Pinbar. + Rejection of the 50% Fibonacci retracement level. + Rejection of the yearly pivot. + Rejection of the monthly...

Daniel.L

FACTORS OF CONFLUENCE + Massive Bearish Sentiment on the Weekly and Monthly charts, so with the dominant trend. + 38.2% Ret. + Yearly Pivot Resistance Convergence. + 50.0% Ret. + Monthly Pivot Resistance Convergence. (Typos on the chart, sorry.) + 61.8% Fibonacci Retracement (so lonely) + 50 + 200 EMA Converging Into the Value Area + Previous Support / Resistance...

Daniel.L

SCENARIO 1: Last time we hit 0.960 was in March of 2014. The downside move had massive follow-through. However this time around we hit 0.960 and had little follow-through respecting the ascending trendline as support once again and price looks as if it wants to test 0.960 once more. A strong psychological level of 0.960 acting as resistance paired with the Dec....

Daniel.L

FACTORS OF CONFLUENCE + With overall bearish sentiment. + Rejection of 200 EMA. + 200 EMA converges with 50% Fibonacci retracement from the last swing from 0.79358. + Coincidence of the yearly, weekly, and monthly pivot lines being in the same area as the above confluences. + Price forming a bearish wedge continuation pattern. + Double top from the two candles on...

Daniel.L

Price Rejected the Following Zone of Confluence: + Yearly Pivot Support. (Dotted Line) + Key Retracement Zone. (50% / 61.8%) + 1.860 Round Number Support . + Breakout of Bullish Wedge. (Continuation Pattern) + HUGE Bullish Pinbar on Weekly Chart. I haven't entered this trade yet. I am looking for a retest of the 50% Fib + Top of the Bullish wedge (and previous...

Daniel.L

POTENTIAL FACTORS OF CONFLUENCE + With the Overall Bearish Trend + Contact With Trend-Line from the highs at 0.800 + Price Approaching Daily 50 EMA + 50% / 61.8% Fibonacci Retracement From Highs at 0.75912 + Approaching a Monthly Pivot Line (Light Purple Dotted Lines) + Approaching a Yearly Pivot Line (Dark Purple Dotted Lines) EDIT: IGNORE THE 50% FIB FROM...

Daniel.L

FACTORS OF CONFLUENCE + With the overall trend. + Retracement into the fib value area. + Bottom of ascending channel. + Previous resistance level becomes support. + Look out for reversal candle patterns to the upside in this area. ( if this week closes with a doji it'll be a great sign of deceleration to the downside and a good clue it's even closer to a...

Daniel.L

Waiting for a nice buy signal on Swiss Franc/Japanese Yen (4Hour). Reason being: We have a previous zone of resistance violated by the latest swing. As you can see, the price action on this pair is strictly bullish. We can draw a fibonacci retracement from 111.257 to 124.596 to find a potential area for price to go long again. The 0.382 retracement at 119.500...

Daniel.L

Ran my Fibonacci tool from the swing high at 0.827 cents to the swing low at around 0.80 cents to get a .618 retracement resistance level at around 0.820 cents. Confirmation was made with a beautiful head and shoulders chart pattern directly on that level with a broken neckline to the downside. Did I get the targets right? Haha, still new to Fibs. c;

Daniel.L

Potential Short on this pair. Reasons for this: - Triple Top - Price Rejecting Daily Pivot - "Hanging Man" + "Shooting Star" Candlestick Confluence - Overbought Stochastic - Price at "top" of range

Daniel.L

First idea here. x____x Seems like a pretty good short opportunity in my eyes. We have a double top, rejection of the daily support pivot line, a 34 & 50 EMA rejection, Fibonacci "Killzone" rejection, "Tweezer-Top" candle pattern, and the current candle closed below the lows of the previous candles. Seems legit to me. Anything wrong I'd be glad to know. I'm still...