Wait for break and close of support line before entering the market
Wait for very strong bear candle before entering the market.
Wait for break and close of neckline before entering the market
Wait for break and close of support line before entering the market
Wait for price to reach resistance channel of the left shoulder before entering the market. Targets marked with arrows.
fter a very weak USD, I am expecting a rebound to occur. As you can see, we have a triangle pattern that has formed on the chart for USDJPY 0.02% and it is also near the key fibo level of 0.618. I am looking for a strong breakout of the triangle upon which it will be possible to take a long position with the 0.786 fibo level as the target.
I believe last week's impulsive bullish wave is going to ultimately be a failed break out of the trendline that has served as resistance since September 7th. Currently price is in a small corrective structure and must soon make an impulsive wave in either direction. My personal bias leans bearish on EURUSD and believe that a breakdown of this support level as...
As we can see EURGBP is moving towards the apex of this descending triangle. Those with a Bullish bias seem to be holding strong at the 0.87500 key support level, but they seem to be consistently pushed back by the descending trendline of the triangle pattern. Eventually the triangle will no longer be able to contain price, and we will look for 1 of 3...
GBPUSD has been trading in this ascending channel since the beginning of 2017. In September of 2017 we can see an attempt at breaking out of the channel only for price to fall back within its boundaries by the beginning of October. Since this rather impulsive series of movements, GBPUSD has been trading in a fairly narrow range as the channel is beginning to reach...
AUDJPY has broken down a significant supporting trendline. This trendline has acted as support since July of 2016, and we can expect price to now test the trendline to confirm it as resistance at which point we will have an opportunity to short this pair. I am looking for the following: 1) Price to approach the trendline 2) A price trigger to confirm the...
I see an opportunity to take a long position on USDCAD. Analysis performed on 4H timeframe. USDCAD's overall direction is currently bullish. After an extended bullish wave, we saw a retracement of the initial movement that has just now reached the 0.5 crucial fibonacci level. I am expecting a resumption in the original bullish direction and am targeting just a...
From the swing low point on October 16, price has continued to climb to the 114.430 extremely key resistance level. At this point we can see signs that the current bullish wave is beginning to lose momentum. I am looking for three things to validate a short trade setup: 1) A break of the trendline on a higher timeframe (D1) 2) A re-test of the 1.00 fibo level...
* Please look at the related idea for the origins of this long opportunity. * After a strong bullish wave, you can see that price is now currently in an ascending pennant/flag pattern. It is normal for price action to take a bit of a breather after a strong movement in either direction. During this time it may appear that neither buyers or sellers are in full...
I expect an opportunity to go long on NZDUSD to form in the near future. As you can see from the trendlines we have a clear ascending channel that price is respecting very nicely. Before we go long we have to establish the following: 1) Wait for price to reach the bottom trendline 2) Determine whether the trendline will hold (ensure we do not have a bearish...
My entire trading strategy is built around how I draw and utilize Fibonacci levels. I use Fibonacci levels to determine precise entry, target, and stop loss placement in combination with other technical analysis methods. The biggest problem I see with a lot of traders is that they do not know how to draw Fibonacci levels properly. So I will show you my method and...
Price has formed a double-top pattern at a key resistance level. This has resulted in a downward move that has broken the trendline all the way to the 0.50 fibo level, which is also the neckline for the double top formation. My analysis is that this level will behave as a short-term support and that price will test the broken trendline to confirm it as valid...
I see a number of confluent factors to suggest there will be a coming bullish wave. Analysis performed on 4H chart. 1) Strong bearish pinbar rejection of the 1.00 fibo level 2) Following candle closed as a bullish candle 3) Price is currently trading above both the 100 and 200 SMA. I am targeting just a couple pips below the 1.272 level and the stop loss is a...