Deceleration into Weekly 50EMA/.618 fib retrace as overall downtrend emerges on AUDNZD.
Proposed stop protected by Weekly 50EMA + most recent swing high + key historical level around 1.0525.
Longer term position - profit target set at 2015 lows.
No need to really manage the trade at all with a conservative ...
Longer-term H&S pattern still in play; key levels around 44.5 & 43.3 plus 200EMA all providing support for a long move to complete the longer term H&S pattern with neckline around 50.5.
Stop is below & protected by recent swing low, 50 + 200 EMAs, rising support trend line + 2 key levels.
I'm watching for price ...
Clean H&S appears to be forming, deceleration into right shoulder
Stoch RSI overbought
Daily 50EMA is possible negative confluence
Keeping a tighter stop rather than protecting behind .875 level to get better R:R before finding likely support around 0.812, 0.8025 & 200EMA.
2 clear levels on SPX500 around 2,160 & 2,110, price has reacted strongly to these areas consistently & regularly. 4H chart shown for clarity of levels.
Clear deceleration around 2,160 on 1H chart triggered short entry. Price has also retraced to 50EMA on Daily chart.
Conservative target near bottom of range, ...
Possible double bottom forming on AUDNZD, clean price action with trend line support for a long position.
Stop loss set clear of the double bottom patter with target at recent key level around 1.06.
Daily 50EMA (red) possible negative confluence and an area to be monitored. A manual close may be appropriate if ...
First important note: like most I presume, longer term I am bullish this pair.
However price is approaching .875-.88 zone which has provided support & resistance at key times in the past. Stoch RSI is overbought and there is deceleration on the Daily.
A convincing high test on the Weekly or Daily at this ...
15-16 months triangle on USDCHF with clear confirmation - this formation has essentially been followed perfectly since de-pegging.
Significant break& re-test of the lower side of the triangle may coincide with additional dynamic support form the Daily 50EMA also. This would provide a strong confluence zone for a ...
Recent channel broken, possible dynamic support from 50EMA.
Fundamentally USD to gain strengh, with neutral to positive data & uncertainty/disaster in UK & Europe.
Possible re-test of key 93 level could provide further value.
About 1.5:1 R:R displayed on chart.