Bullish cypher at Structure Point
Examining the daily chart, the 1.3200 level has previously held as support a number of times. Couple that with the trendline support, a third retest MIGHT hold for more buying off the bullish cypher. Depending on what the RSI indicates and the price action at that intersection, its best to follow your trading rules to determine best point of entry.
A move back to the orange box where the bearish cypher completes would present a decent shorting opportunity.
Shooting for 2 for 2 off the recent bearish bat pattern though my long-term sentiment is still bearish.
Decent buying opportunity with a confluence of 2 Fib levels at 79.05, a rising trendline, S/R as well as RSI OS+DIV
Potential long opportunity with great RR with 0.7350s topside probability
With the recent move lower, new criteria in play for trend continuation are: 1. Fib confluence at 1.4880s 2. RSI potential OB + DIV 3. Trendline reistance marked by dotted blue line 4. Potential LL LC candle to trigger entry for trend continuation
A pullback into the box close to the Fib confluence and around 0.9700 presenting a lower low lower close candle will present a decent shorting opportunity
With the RSI overbought & divergent coupled with the completion of the ABCD move, my prediction is a fall back into the orange box before a further move up to test previous highs looking at the chart on the left. Shall be looking for a HH HC candle to trigger entry inside the orange box.
Potential 3 for 3 patterns back to back on USDJPY
With AUDUSD looking towards 0.7600, a pullback towards 0.7526 region could present another buying opportunity but if a pattern develops prior to the region marked blue, a position will be opened. Updates to come
Criteria assessment: 1. ABCD Move 2. Fib Confluence at & around 1.4932 3. Structure resistance at 1.4950 4. Potential gartley in the making at 1.4917 5. RSI?? Lower low lower close candle to trigger entry on a lower tf if the advanced pattern doesn't materialize.
Pullback into PRZ will allow for another chance to hop on the trend empowered with the break of structure at 0.7090
Opportunity to hop onto the trend off the bullish cypher with a conservative target 1 followed with a retest of the highs for target 2
Though the CAD has rallied with talks of a rate hike possibility, it might be topping off for a short-term retracement as depicted by the trendline resistance as well as the bearish bat. Potential double top in the making.
Overlapping Fib Levels from 3 structure levels combined with RSI. Waiting for a lower low lower close candle to trigger entry.
A pullback into the PRZ will allow for more Kiwi buying seeing as to how the market has just broken structure at 0.7090. Prediction is we are heading higher
With the recent break of structure at 0.7090, a pullback into the PRZ where the 61.8Fib & 50Fib slightly overlap could present a decent buying opportunity to ride it up.