Anticipating a drop in AUDUSD, at least to a prior high. AUD is still bullish so a retracement is in order. Multiple wick rejections on the 12 hour, this pair appears ready to move down.
GBPAUD is now in an uptrend. The pair has broken trend showing divergence on the RSI. A block on the daily showed price breaking previous highs and now we are waiting for a buy on the block to move back up to it's previous high at around 1.83350.
Waiting for price to retest this area as a new support before hitting previous highs. Risk reward is 1:3.
GBPUSD Order Block - August 22, 2019 Order block on the 4 hour. Bullish engulfing took out previous lows, Broke up to break resistance. Price took out previous liquidity. Looking for price to retrace back to block and move up.
USOil Breaker Block - August 22, 2019 Order Block Analysis This is still a learning concept but I think this is another order block that became a breaker block. We see price breaking previous lows with the bearish candlestick. Retail traders are selling here as this is at resistance, but then market makers buy in at this low price breaking previous highs...
GBPCAD Analysis - August 22, 2019 I'm slowly getting more into order blocks, and above is a review of a trade I took recently. 1) Uptrend forming so only looking for buy opportunities 2) Possible order block formed, price broke previous 4 hour lows with a bullish engulfing candlestick that followed. 3) Buy Limit placed on the block, with a risk reward ratio of...
1 ) Possible inverted head and shoulders pattern on the 2 hour time frame with right shoulder forming. 2) Waiting for price to retrace to 1.85000 to retest a previous higher high or create the right shoulder at approximately 1.17800.
GBPCAD Analysis 1) Daily timeframe, three touches on down trend, price finding support. 2) RSI divergence on daily time frame ( pink line ) 3) 4 hour time frame - double bottom has formed, price reacting off previous minor trend (blue line ) 4) Price resting right on two key fib levels from the previous swing down and the recent swing high. 5) 1 hour time frame...
BTCUSD Analysis Update - August 13, 2019 Last time I posted price was at the red zone at a major level right below 11000. I drew my fib level with the 1.618 target in mind and price hit that on point. I love fib levels! With the swing up, current price has broken the 71 and 61.8 fib level, so now we are looking at the 50 fib level, this is the blue zone. This...
EURAUD Review 1) Price previously formed a right shoulder and head. I took my trade at the red dotted line at around 1.66007 where I saw two fib lines intersect. 2) Price dropped to a previous minor resistance/ creating a new support before coming back up again to my entry despite EUR German news being bearish...Trump's tweet this week on trade set off a chain...
CADCHF Review: 1) August 1, CADCHF took a bearish run after breaking range and began retracing after a third wave on the 2hour at around 0.74200. 2) Upon rejection of the 38.2 Fib level, trade was entered at the opening of the next candlestick at 0.74280. 3) Target equaled the -61.8 fib level, almost equal in length to prior wave down, and near prior daily...
BTCUSD Analysis - 1) Price is hitting a strong previous resistance and support zone 2) Sellers are not having much luck but there are some doji's forming indicating indecision. 3) Price hitting 50 fib level on previous weekly swing low. Price may reject and come down to open opportunities for buying around the previous weekly low (blue ellipsis) which is also a...
GBPNZD Technical Analysis: 1) Current price at a support level. 2) Current price at 71 fib level of previous major swing low. 3) Price at a significant daily trend line, possible rejection. 4) Multiple upper shadows, pushing price down around trend and resistance. Possible momentum shift. 5) ABCD pattern forming, D formation may form. Equal length of movement...
NZDJPY Analysis: 1. Weekly Time frame - Price is in a downtrend 2. Daily Time frame - Price looking to retrace to 50 fib level to close daily gap from May 2019 3. Two . blue lines, two pink lines are equal representing an ABCD pattern, with D about to form. 4. Price has touch trend and a possible morning star doji rests right around a previous major support...
NZDUSD Analysis: Technical Analysis: 1) Large Bearish engulfing from the previous weekly candlestick - Price typically eases up. 2) Daily doji indicating indecision, also doji is on a trend line, price losing momentum on 4 hour and 1 hour right toward the trend line. 3) ABCD pattern appears complete (Pink and Blue lines are equal). 4) Doji touching 71 fib level...
US Oil Analysis: Fundamental Analysis: 1) Major bearish USD news with the Federal Funds Rate cut this week, potentially driving commodities up. Technical Analysis: 1) Higher lows are being made. 2) Price is ranging in a consolidation price zone but price is reaching higher within the zone. Possible fake out though! Waiting on retest outside of the ranging...
EURNZD Analysis: Technical Analysis: 1) Price approaching 200 MA for possible rejection to the downside. 2) Price approach major fib level 50 for strong trend down on rejection. 3) Price touching down trend line. 4) Price losing momentum on 4 hour and 1 hour. 5) Price hitting a previous lower low. 6) The potential drop may be in equal length of the previous swing...