I would describe this as an upwards channel with a symmetrical triangle inside of it. The pink resistance trendline is now valid due to there being 3 points on it, and the blue on has even more - therefore I consider this formation valid until broken. It is indeed the break of either the pink or blue trendlines that I will be trading. A break of the pink...
Triple bottom formed on 4 hour / daily time frame. Price broke out of resistance for this formation. I think a retest of 1.4288 area, then back up - overall movement to area around resistance trendline.
Pretty simple setup, if you only have the patience for it. I really don't care to wait for this, and I'm certainly not buying the Euro now, but it can drop now or after several more retests. I'm just going to post this and leave it here, and see what becomes of it.
I recently posted a GBPJPY short idea, to reiterate, here it is again. Price has retested the resistance trendline again and was rejected. My position remains the same, this is a long term trade if it hits my Take Profit
I have 2 orders set to buy above current price. Price broke resistance trendline, and CADJPY is oversold on the daily time frame. Wait for candle to close to buy if the situation fits.
Price is respecting the shown support trendline, up and up we go as DXY reaches previous highs.
In my view; Wave 1 began the reversal for AUDUSD Wave 2 was a pullback/retracement Wave 3 is in process, the longest wave, let's ride it out.
I sold this at the close of the strong bearish candle after the doji/hanging man candle. Price retested the resistance zone at .7607 - which is an area of previous support and resistance. Price got rejected from the resistance zone, so I am selling AUDUSD down to the next significant support level, which is 0.7515. My stop is above the most recent high.
AUDNZD has formed an inverted head and shoulders, and has broken the resistance neckline in a strong bullish candle. The gap has been closed, and the first candle of this week is very bullish. It will not be a straight shot to the low teens for this pair, but it should get there by the end of the month.
CADCHF hit support at 0.7520 and formed a bullish candle that closed several hours ago. This is an area of previous support and I expect to see price head higher. Stop below previous low - Target below previous high.
This order has not yet been filled because the candle has not closed. The support trendline was broken, and once the 30m candle closes strongly bearish as it is right now, I will short.
Price was in a symmetrical triangle, and broke the support trendline of that triangle. Stop loss above most recent lower highs, target at next level of significant support. I will be adding to this position on retracements as price drops.
AG is still considered an inverted head and shoulders in the making, as the first shoulder's resistance has not been broken. Price will likely be bouncing from the support trendline and up to the low 13s.
So we have a valid trendline with 3 points on it, and UJ hit it once more during last Friday. I shorted it for several reasons: 1 - Rejection from trendline 2 - Price filled the gap and then went back down 3 - Price became overbought when it made a LH 4 - Bearish engulfing candle on Friday's close 5 - 1h double top formation with broken support and retest of...
So far, I am seeing a head and shoulders for the US Dollar Index daily chart. To actually trade this, another movement down to 99.40 area is needed to fully form this. However, Thursday's daily candle actually managed to close above the first shoulder's resistance - which leads me to watch this pair carefully and not rely on any bearish movement. My thinking...
I believe this pattern is called the flag, and is categorized as a continuation pattern. In other words, it is confirmation that price is in a retracement, and that likely, the trend is intact. So I have a bullish flag on the chart, I will be looking to buy when price breaks out of the resistance trendline as seen in the previous 2 similar setups. Side note:...
As everyone well knows, AUDUSD finally reversed as I have been predicting for several weeks as price was barely moving at the top of the uptrend (4h/daily) AUD weakness against the USD may indicate further strength of EURAUD. I spotted what may be a triple bottom setup, and price has broken the resistance of the structure. Still trying to find a good entry...
Just break already ahaha Decent position as I see it, still holding from yesterday. If the support trendline breaks I suppose it will be extra confirmation for a short position.