Previous trend had slow weak start with 3 new slightly higher highs showing an increasing trend strength.
The two decreasingly higher his - losing strength.
A left shoulder, head and a touch on the forming neckline.
If this retraces to the resistance level set by the left shoulder it could be a nice H&S setup.
GBPJPY Short off of a rising triangle.
I was originally looking for a breakout of the triangle at about 147.5 and change.
However it looks like it has returned to the down side of the Big Round Number 150.
I think I'm in this too early but so it goes.......
The 150 is a very strong round number zone right through the middle of the GBPJPY.
It is very squishy zone...
A possible Cup and Handle Reversal on the AUDNZD Daily. Also forms a descending triangle as any cup/handle pattern should.
1) If it closes above the upper triangle trend with a strong bullish candle then a ling trade should be successful.
2) If it breaks out below point B at 1.08334 then the reversal should be on.
Inverted Cup with Handle
" You must wait for the...
1) Entry on 4H
2) Trend on 1H is Bearish
3) Price action has been ranging for a short time
4) A Head and Shoulder has formed in the direction of a continuation.
5) A retracement is possible
6) TP is 75% of Neck to Head distance
7) 2 - 1% trades with TP at 1.2R and TP at 2+R
1) New Trend Line set at top of early break of original Trend Line.
2) Second break of original Trend Line passes above New Upper Trend Line.
3) Limit order to trip if price re-traces to New Trend Line.
4) Should return to Big Round Number 1.5.
4) Trade entered off of Weekly Chart
Just following the trend on EUR NZD.
Probably nearing the end of this trend because waves are getting smaller and smaller. Bears watching closely.
Maybe a reversal or a range trade coming in the not too distant future on this pair.
The previous trend was very strong. It ended in a brief period of ranging but is hopefully about to break out. If it comes back to the trend line after making a higher high it could be a very early entry into a nice trend.
We shall see.....
EURCAD / 4H / Trend line as Resistance
Establish Trend on 4H chart
Draw Trend Line
Mark highs and lows.
Check the 200 EMA to confirm that Daily trend and 4H trend are correlated
Enter when price respects trend.
Exit when price turns back toward trend line.
Below the Daily 200 SMA
Below the Weekly 200 SMA
Below the Daily 50 SMA
Below the Annual Resistance
Below the 52 Week High
Below any Major Pivots
Below any prominent round numbers or / S&R
Below the Trend Line
Pullback or Continuation
Bounce off resistance (either trend line or SMA)
Bearish indecision or reversal...