Inverse head and shoulders forming on the pull back of the dollar. I am looking for the market to balance off and re-test its previous breakouts that haven't been visited again yet. As shown 2 points of interest
Reversal pattern has formed as the DXY pulls back, I believe we could see a further drop into demand unless we see some more interest hike rates. For now short term basis target time frame is by the end of the week
Golds down channel that's been going on for the last month or so has finally been broken, this could cause us to see a push upto the 1907 level where we would remain in a overall down trend. Good entry around 1836 level for this trade
Skeptical about taking buys in indices however I trade my style of trading and im looking at a buy set up. SPX looking to take and inverse head and shoulders set up. with the pivot shown. We must not close below the pivot if we hope to go higher to the R1 target area at 1.414%
Pretty simple setup as we look to form a market balance and correction. Price has double bottomed and looks set to back test its breakout where we could see more shorts but lets stick with our current set up for now
Our XXXJPY pairs have found the top short term, pairs are all setting up reversal patterns and I am looking for sell entries on the break of the necklines. Target is where we saw slight pullback and more buys from previously. It does look like the YEN has found some form of small support until something else happens
GBPAUD I believe we can get a good 400 pip trade with minimum risk. We appear to have created a double bottom which has formed the base
Now if you go from the 4HR to the 30M TF, we can see a reversal pattern an inverse head and shoulders which would give us a good place to get anentry on the break of the neckline.
Looking as if the YEN has maybe found some stability or support for now. Currently showing a head and shoulders reversal patterns which would fill the market imbalance and re test the breakout area of the previous cup & handle.
Entry - Break of the neckline as highlighted
Looking bullish going into Tuesday afternoon. Had a large push down and has bottomed with a simple reversal pattern.
Use low lots due to the volatility has a good risk reward average of around 5.00 depending where you enter.
Starting the week bullish on GJ. We have seen real use for concern for the YEN along with Japanese finance minister stating "they may need to take action on forex conditions". Seeing a reversal pattern forming to push up and balance off the market
Friday we had gold making some big moves on the last trading day of the week. We saw a large impulse which has broken this down channel we have been stuck in & also a pullback to test the structure we have broken out of. Now to confirm a buy at this level we would be looking for a rejection candle and price not to break 1885 to confirm our inverse head and...
Looking at the area the DXY is in, its in a resistance area, I believe a pull back is due before we see more gains. With this being said I am also looking for XXXUSD pairs to make a pullback after been driven down. Falling wedge pattern identifies bulls could be waiting for a nice push up. I don't believe we will break 1.06000. Confirmation will be a bus of the...
Fundamental based target of $185, we could see the price of oil sky rocket is the EU decides to ban all oil from Russia. This will of course have a serious impact on the markets.
We have currently broke the down trend and are heading back up so my minimum target would be 123.5 based on my technical chart.
Full chart trade would be an average RR of 7.0
Currently bullish on GBP pairs after last weeks reaction, many reversal patterns formed if not already happening. GBP shown some support. Looking for a pullback from sellers to complete the formation of this reversal patterns before entering my long. Imbalance is also a hint that bulls are gearing up to fill it in. Fib being used for targets.
Driving factor - UK...