The price action patterns seem to be on par today. A nice double top pattern has formed. The trendline is a potential target for the price to retrace before the longer/bigger move out of the breakout of the trendline resumes. Stops above the two double tops with a safe target for profit around 1.3095. For more setups and information, either follow me on here...
Speaks for itself, but this is a triple top pattern so expect a nice retracement on exhaustion of the move upwards to a move down to roughly 1.464 area. Stop losses above the tops and Take profit around the lows of the 1.46 area More information please follow me on here or at www.ejfxtrading.com.
So the recently downtrend in GBP pairs has began a retracement, an expected behavior after a heavy move. The question is where next for GBPJPY. Well, the JPY has become a safe haven and consequently is used when times of risk are high, which currently is at med-High as we speak. The recent economic events point to a slow down in UK's growth and therefore we can...
Recently the economic data with the US dollar has helped it gain some momentum with a Bullish sense of direction. We have just broken the triangle marked which indicates that a move now towards 97 is on the cards. I expect some consolidation before I strong move towards the 98.5 area. Expect some strong movement in USD pairs against commodity pairs in the coming...
EURGBP had a roller-coaster some weeks ago and has been returning to its 'near value' of mean price, a.k.a. the 200 EMA. The missed monthly pivot posses an interesting situation as to what price may do next. The triangle formed indicates that a break is likely to occur but to which side is hard to call for the moment. My expectation is price has aggressively...
The EURAUD has hit year lows recently on the back of Brexit and a strengthening Aussie Dollar. Technically this is looking like a good setup to go long upon confirmation of the following: 1.) The trend line nearest to price is broken 2.) Divergence on high time frame RSI shows price divergerging upwards 3.) We have a missed monthly pivot. This pair has a great...
With recent strength in the US Dollar and a weakness seen in Aussie employment, recently a failed H&S pattern did not occur but a break of the steep trend line indicates a move to the South to an area of support around 0.735-0.73. My advice is to wait for a pullback early this week upwards and then enter upon either a strong move down or alternatively wait for...
I love trading this pair, its an exotic and it usually obeys technical analysis. We have a very well defined H&S pattern with a neckline illustrated. Target is the 23.8% Fib level shown! Sell trades can be placed below the neckline ready for the break! Stops above the highs of the right shoulder. For more information, either visit my profile, follow me or visit...
Recently I posted about being patient with this instrument. It has excelled bullishly in recent weeks, even though the majority of Western consumers are in Summer and the demand is therefore less for this commodity. A H&S pattern looks to have emerged and with a few weekly + Monthly pivots missed my target is the 38.2% Fib level. the reason for retracing down to...
As the pound has been in free fall recently, the EURO has been boosted consequently and its no surprise that the EURGBP has rocketed to new highs. Today I want to share with you an idea of trading, which is technical but not necessarily an overload of technical analysis. The red line shows the 200EMA and I have shown the retraction of price from the 200EMA. One...
Nice little Head & Shoulder pattern thats formed here. Currently in formation so a break of the neckline would imply a nice move towards the 0.73-0.72 area. For more information please follow me via my website link on my tradingview home page link
So recently I posted about a potential slight rise in NGAS before a deep correction is due. Observing this chart, you'll see a break of the trend line and I anticipate a move towards the monthly pivot and then two possibilities could occur, these being: 1.) A bounce is made becoming the higher low before heading North 2.) A slight bounce occurs and then NGAS...
As a counter trend trader NGAS has been pushing aggressively high recently backed by some cold weather spells across the US and Russia. This chart has a lot of information so let me break it down to indicate my thoughts on what price might do next: 1.) We have 2 Missed Weekly and 1 Monthly Pivots 2.) The time period for which price has not touched or met the 200...
The Euro has taken a hit along with the GBP from the recent UK-EU Referendum and this has weakened the EUR. Consequently, the YEN is a safe-haven and has been strengthening in recent months. The weekly/daily pivot shown together has nearly been hit (Note: when a daily/weekly/monthly pivot are the same this is usually a good magnet for price to hit or use as...
The recent BREXIT vote has caused volatility in both GBP & EUR pairs. This channel shows a correction formed from April- May (2016) of this year with a lower trendline predicted for movements for price to move within. My expectation is that price will resist the the mid trendline and then make a lower set of lows towards the daily trend line formed by two touch...
Head & Shoulders is now being obeyed. expect big shorts now in play! Didn't want BREXIT, but I think the market is going to dump the pound!
Oil has had its stumbles recently and I believe that price is over extended and due to fall hard below the neckline. The two necklines are possibilities for either break for the move south, however its hard to tell on this setup so be ready for a break below the 48 price area. Fore more information either follow me on here, twitter or at www.ejfxtrading.com for...
With BREXIT on the cards next week, as described in my previous post, I think we could see another potential big short coming up! A typical H&S Pattern has emerged and if obeyed which would be forced by next weeks BREXIT vote from the EU, then we could place Sell Stops and be looking at 8.5%-12% correction moves (a.k.a Some BIG moves!) For more information on...