- WE ARE IN A LONG TERM DOWNTREND AFTER COMING OUT OF YEARS OF SIDEWAYS TRADING IN A LARGE RANGE
- CURRENTLY SITTING AT A LEVEL THAT IS CREATING A LONG TERM TRIPLE BOTTOM
- EMAS ARE STRONGLY BEARISH , PRICE WELL UNDER BOTH THE 50EMA AND 200EMA
- JANUARYS CANDLE WAS MAKING BEARISH PROGRESS
- FEBRUARY HAS CLOSED UP AS A BEARISH SHOOTING STAR WITH A...
- MONTHLY TIMEFRAME IS SHOWING THAT WE ARE IN A DOWNTREND AND ARE DUE A LOWER LOW
- EMAS ARE LOOKING BEARISH, PRICE IS BELOW BOTH THE 50EMA AND THE 200EMA
- JANUARY WAS A LOW TEST CANDLE PIERCING BOTH EMAS
- FEBRUARY BROKE BOTH EMAS AND HAD A GOOD STRONG CLOSE
- THE WEEKLY TREND HAS NOW REVERSED AND LOOKS LIKE WE ARE STARTING A DOWNTREND, DUE A...
- JANUARY DOJI CANDLE SHOWING INDECISION
- EMAS HAVE HAD A BEARISH CROSSOVER
- WE ARE DUE A LOWER HIGH FOLLOWING THE LONG TERM TREND
- BROKEN THE DESCENDING TREND LINE
- WE ARE STARTING TO BREAK THE 50EMA
- GOOD BULLISH WEEKLY CANDLE PUSHING US IN THE RIGHT DIRECTION TO FOLLOW THE TREND
- BREAK AND RETEST OF THE 1.1135 LEVEL OF SUPPORT
So this current setup is my personal favourite for the week ahead as there are lots of confluences for a Short trade and also a great Risk Reward profile.
The Weekly timeframe is showing us some Bullish movement which has given us the most recent trend line bounce, and also helped to create a new Fibonacci setup for our entry.
On the Daily timeframe (pictured...
We can see on this pair we are now in a downtrend as we can see the Lower Lows and Lower Highs.
Price made a Double Top formation back in June - August and that Neckline can be copied to project a target.
We have seen a 50% Fibonacci bounce.
200 EMA & 50EMA Crossover.
Break & Retest of Monthly Support at 180.46 on H1 Timeframe.
Target 1 is below Fib D1 at Monthly...
Not going to go into much detail here as will leave the chart to do the talking.
Target 1 - 82.10
Could be a good trade to hold for a while and scale in for other Short positions over the coming Weeks.
After following this pair over the past few weeks we have had some very nice profitable setups and some big movements.
Price has now hit the bottom of the wedge and is now retesting the interim level of resistance at 1.5230 which is also in line with the 23.6% Fibonacci extension level.
We have also now had a Daily break and retest on the ascending trend line....
Keeping this one simple, partial breakdown of this pair is pictured in the description on the chart.
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We've had some brilliant setups on this pair over the past few weeks. Have managed to extract hundreds of PIPs from the market.
Over the week we have had more targets hit as price was capped by the Daily Channels Mid Range and 1.5000 Resistance. However we managed to create a new high and are now coming down to make a Higher Low.
Bullish outlook for the rest of...
On this pair we have seen the price fail to make a lower low.
Got a bullish Fibonacci in place which has seen a touch of the 78.6% level.
I am now awaiting a break of the CTL for a long position with target 1 being at 0.7250
So with this pair we are now making lower highs and lower lows.
Weekly Fibonacci has bounced from the 61.8% level.
Moving averages on all time frames are now bearish.
I am now expecting further downside movement to 131.00.
On the H4 timeframe we have a breakout retest continuation on 133.00 (which was a previous target from the ascending trend line 2nd...
Taken a long look at this pair and there are so many confluences for short positions.
Last months candle was a bearish engulfing marubozu.
All moving averages are bearish.
Weekly Fibonacci (not drawn on this chart) is bearish and has bounced from 78.6%.
On the Daily we have a Head and Shoulders pattern that has smashed through the neckline.
Also have a Daily...
Got a bearish Fibonacci here and now waiting on a CTL break to go short for a few PIPS.
Got a M, W, & D close below 0.7050 Support.
H4 tweezer tops of 0.7050 but failed to close above the level.
A break of CTL will give T1 at 0.6950.
Been waiting to go long on this pair for a while now and the perfect opportunity has come along.
We can see a bullish Fibonacci and the 61.8% level has held firm.
MA's are looking bullish and we have seen a break of the CTL, and BRC on H4.
Now looking for a HH and T1 at 1.1500.
Also a Daily inside bar just under the mid range Support that was broken by todays...
The EUR/USD pair has been done and is pretty straight forward, both bullish and bearish setups are shown on this chart.
A break of Mid-Range resistance and break of upper CTL would lead to 1.1600.
A break of the lower purple interim support and close below lower CTL would lead me to a bearish setup looking towards 1.0500.
Will await price action to see how this unfolds.
I have been waiting on this setup for the past week and it looks as though it is coming through nicely this morning.
You can see a bullish Fibonacci that has made the A,B&C extensions, and is now on its way up to make D.
We have broken out of the descending channel and have had a strong close above the purple range which is interim Daily resistance.
Going for a different approach on this pair as I normally try and find setups on bigger timeframes.
However I have had a few trades that are just missing TP's so am going to try a different approach.
This setup is pretty self explanatory so will just leave the annotations on the chart for you to read.
So looking here at the Daily Fibonacci we can see we have made the A,B&C extensions and are now on our way up to D1.
I missed my entry on the break of the CTL but am now waiting to see if we made a 3rd touch of the TL.
MA are bullish on both Weekly & Daily time frames.
We are making Higher Highs (H.H) and Higher Lows (H.L) and are set to make the next H.H.