After forming a beautiful Head and Shoulders along a strong support line,
Nice Symmetrical triangle formed during Friday last week and im thinking the consolidation is for a nice push coming into opening week.
As i write this on Monday morning price action still seems a bit sluggish, Once Sun/Mon is over we should see some modest movement from the pair.
very simple here traders, play the resistance and support, not much else to it on this one. Along side a heavy stage 3 Divergence i can feel confident in this entry!
Enter trade at first sign of reversal (candle stick, double top, head and shoulders, etc)
SL - 1.6165
TP#1 - 1.5905
TP#2 - 1.5655
Sunday morning and I am hungry!
Looking to go short at the beginning or the week, and long as the mid week reversal comes into play.
As i write this on Sunday, i expect eurcad to make a fake push upwards 20-30pips above 1.5950, where our short entry will be added. SL 1.6015 TP 1.5755
hold going thru to Wednesday/Thursday when nearing price at 1.5750, coming...
With CHF/JPY coming near fresh yearly highs after such a strong multi week push, its do for a reversal at the 118-119 zone. For the pattern traders we can see CHF/JPY presenting a huge ascending triangle for bullish long term momentum, in the mean time im looking to go short in expectations of price going back into consolidation. . If you take the time to zoom in...
With less then 3 hours until Tuesday close, its safe to say price will hold bullish for couple more days.
Healthy pullback to the 61.8% fib level. should prove as strong support (always watch for breakouts/ wicks to the low.)
In a situation like this if you decided to go long, now would be a good position to add entries.
Before i start, i would like to mention i use MM psychology often in my trading style. With everyone on edge for a bearish EUR and bullish USD, waiting for more confirmation, we can expect fake outs to happen by mixed signals. im expecting EUR/USD to make a final bullish run to psych out traders.
As i write this article, EURUSD is making a falling wedge. i expect...
Looking foward, NZD/CAD has found support around 0.9015. With level 3 Divergence present on the RSI, i can feel confident in this trade. On a bigger time frame (H4, D1), we can see a diverging Double Top signaling a short, with Market Makers in mind, i can see this making a third push to the high to trap long breakout traders and stop out those already short. Will...