USDCAD is at an inflection point where it can pull back and retrace against the move up from 1.3038 Most of my trade setups for the entire month have been long USDCAD. (Check related ideas). As the move progressed up, the wave count kept showing further upside where several market participants started getting bearish. At this point, the count is complete from...
Bearish Bat Pattern appears on 1H USDCAD Charts This trade idea offers a good entry point on an previous idea ( see charts below) hence the more aggressive targets to support at 1.3246
The cycle from 0.74916 looks like it may have completed at 0.6982 A breakout of the down channel can confirm the move
Potential Head & Shoulders Wait for neckline break to enter. Measured move targets at previous support 0.6500
Patience pays. The GBPUSD has been on a long steady rise up, but finally a nice confluence zone to short into has presented itself on the 1H chart. Targets for this move fall at major physiological support at 1.5000
1. 61.8% Fib ( 3267-3368 ) 2. 50% Fib ( 3224-3368 ) 3. Rising Channel 4. Uptrend on all higher TF's 5. 1H Bullish Engulf & 4H Reversal Candles USDCAD remains in a strong uptrend, however we are starting to see momentum slow a bit, hence the conservative targets for this trade at 1.3390
Today's open may very well have hit the lows as it took a strong bounce from there. Other Yen pairs displaying the same price action. Further confirmation could come from break of upper trend line, aggressive positioning from current levels against the lower trend line. BOJ up this week, could be the catalyst.
USDCAD Breaks it's bear flag after consolidating for most of the week. Been long this pair from previous idea (see linked idea). First targets come in at the Yearly High
EURGBP Setting up a possible Double Bottom RSI is diverging and hold the trendline Price is testing a smaller channel and holding. Good RR from the bottom of the channel, otherwise further confirmation with an upside break of channel
Analysis in it's simplest form A strong Uptrend followed by a series of lower lows and lower highs Potential 4H pinbar in the making
Silver resting on bottom of the daily channel as several of the Majors have started to post 1H doji after the big NFP move down showing early signs of temporary exhaustion. Earlier this week Gold had a similar setup, but as silver was still in the midst of it's channel, it was likely the gold channel wouldn't hold. First targets fall at the confluence of the...
USDCAD showing signs of reversal at 1.3052 The area marks previous resistance turned support, as well the 50% Fib level of the last leg up. So far a doji (indecision) candle has posted at this level, and a bullish engulfing candle in the making on the 4 hour chart marking the London Open. Conservative take profits target the downward sloping trendline from yearly highs
The inverted H&S Pattern from last week is still in play. Last week there was a good buy spot on a retest of the neckline which had confluence with the 50% Fib. To start this week, we see a 4H bullish engulf pattern after a correction lower, The pair remains a buy on dips. This candle can signal a resumption of the uptrend towards 1.3263 targets.
Last week's price action gave a clear signal that EURUSD is bearish. To start the week, we have an ideal scenario to sell EURUSD. Or at least appears so . 1. The Daily Channel/Trendline dating back the middle of May, has been broken, and price is consolidating just below. 2. Previous strong support from the beginning of September at 1.1086, also broken and...
The Elliott Wave count shows the first leg up from the late August completed at 116.81 as wave (W) Since then we have seen a zigzag decline. The divergence seen as of late with the S&P500 indicates this structure is likely to unfold as a double corrective structure, as long as wave X at 115.49 holds. Short setup targets support lows at 95.60
Scalp setup in the USD as it approaches a support zone The USD has been range bound, and likely to remain as no major fundamentals in play until closer to the Dec FED meeting. Longer term trend is bearish, in a down channel. Longer term wave count is also bearish, however the short term wave count indicates one more high is required to complete circle B. The...
The trend on the hourly chart has turned bearish after breaking the channel up Recent correlations between the Yen pairs and the equity markets have been quite strong. We are starting to see a bit of risk aversion in a pull back a bit ahead of the FED meeting this week on the back of uncertainty over a rate hike. With EURJPY already giving technical signs of...