Price has broken out of the wedge formation and retested structure while presenting an H4 high test doji. Fibonacci and moving average confluence lead me to believe this trade will continue to drop.
After breaking out of the daily downward wedge, price was able to pull back and find support around 1.048. I entered after a break of the h1 phase line and the h4 is forming a reversal pattern off the 50% fib. I am looking to take this trade to the daily 200ema.
NFP price action offered a nice reversal as AUDUSD bounced off the TL for the 3rd time in line with structure, 50% fib, 50ema. A lot of confluence leads me to believe price will continue its bearish cycle. I will be looking to exit either around the 27% extension, or the monthly support at 0.6980.
I will be waiting to see some sort of retest on the lower timeframes before looking to enter long on this breakout formation. This trade could offer a nice 2.5:1 R/R if we are able to get a pullback before taking off.
A double top has formed after rejecting the 50ema and 200ema as well as the ascending TL. Break and retest of the neckline has given us a low risk opportunity to take this trade for 2:1 R/R, and possibly more depending on how the price action looks as it approaches Target 1. Good Luck
A short entry has been triggered on GBPAUD following a break of the ascending TL and the 50ema and 200ema on the H1. I will be looking to take this trade to the 1.696 support zone and will monitor for a break to continue to the Daily 50ema. Safe Trading
This week I will be expecting price to continue to rise after support was found at the weekly level of 1.223 into the 1.250 even handle where a confluence of factors have setup a possible PRZ to continue the bearish trend. Around 1.250 lays 3 fibonacci zones, a 3rd touch of the descending trendline, as well as the Daily 50ema. I will be anticipating a short signal...
H4 candle closed as a bullish engulfing after pinning yesterday's LOD with RSI divergence. This is a short term long entry since the overall market condition is bearish. Will be looking to take profit around the H4 50ema. Safe Trading
Price broke the CTL after rejecting the 50% fibonacci and H1 50ema. ABCD pattern with Target 1 just above Point B and target 2 at the -27% extension. Safe trading
Last week's closing price printed a doji candlestick pattern on the weekly timeframe. Price has stalled in key structure and is divergent on the daily timeframe. After a break and retest of the descending trendline, I entered long with a big upside potential. My first target is 0.869 and second target is 0.900. Safe trading
I missed the H4 bearish engulfing off the TL bounce. Entered on a lower timeframe after a break of the counter trendline. Price has broken structure and created LL and LH off the 61.8 and TL. Momentum looks to continue to the downside and offers a 2.5:1 reward/risk. Safe trading
looking to short USDCHF this week. Heavy bearish momentum following the completion of the H&S pattern at the 61.8 fibonacci retracement.
look for AUDUSD to signal continuation of bullish uptrend at the bottom of the current channel. Sitting at H4 support, 50 ema, and break and retest of bearish trend line.
After breaking out of the accelerated downtrend from last week, I am looking for a pullback to 1362 before entering long. Projections land around 1388 before next major resistance.
After a 50ema retest bounce off the h1 I am looking for a continuation in the trend. I am looking at the first TP to come in at yesterday's high. 2nd TP is just below previous swing high around 1.1400. Stops went below yesterday's low.
Looking to see a clean break and retest of the bullish trendline before entering for a continuation short. First target is 0.8700. If there is a break through that support I will look to enter another position and take it to the structure low in April.
Many confluences add up to offer interest in shorting USDJPY if we see a break of the current bullish flag. As we can see, price is failing to keep higher highs in the bullish short term pullback. Price has retested the supporting trendline and pulled away as well as rejecting the 200 ema and 61.8 fibonacci retracement. Overall I will be looking for a break and...
After seeing price action on the daily time frame as an engulfing candle following Thursday's high test candle, I will be looking for a pullback before selling the continuation downtrend. Price has shown the 38.2 fib offering key support in the past. I will be looking for a 50ema/38.2 bounce in the blue PRZ box. My first TP will come in at the previous LL with my...