GBPAUD has reached the FCP zone on weekly TF, it also confluences with another FCP zone in 4hr TF. It has started to show some bearish indications (rejection from monthly 61.8 fib level), a possible short trade is foreseen.
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Disclaimer: This is not a signal, this analysis is for educational...
A sell trade is possible looking at the price actions. The key points to consider:
- Two harmonic patterns are getting completed, the possible price action reversal zone is shown in cyan shaded region.
- daily trend line is also observed around this price action which can act as a resistance.
- there is also a key structure level around 2.466.
- RSI divergence...
A BAT pattern is possible in UKOIL (similar to what I mentioned for USOIL) if the price action moves below the neck line. If these conditions are met, we can open a buy trade at 88.6 fib level i.e, 42.63. The TP levels are 43.47, 43.73 and 43.99 according to fib analysis.
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A bat pattern is possible if the price action exceeds the neck line i.e, 41.07. Then it can go till 88.6 fib level i.e, 40.11 which is near to an important key structure level 40.17 and we expect the price action reversal as it completes the bat pattern. The TP profit targets (for the buy trade) are 41.00, 41.28 and 41.56 respectively according to fib analysis....
The price action has tried several times to break above 1.6182 level where a key level is sitting. Once it breaks out (wait for a 4H candle to close above the key level and comes for a retest), we can open a buy entry. Possible targets are 1.6228 and 1.6278 respectively.
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Disclaimer: This is not a signal,...
A sell trade is possible for CHFJPY on 1H TF, looking at the following observations:
1) the W pattern is complete, the price action is already in the highly probable reversal zone (cyan coloured zone).
2) the RSI divergence is formed.
3) double top is also getting formed which can push the price action downward.
The TP levels are (according fib levels):
-...
The dollar index (DXY) has got some bullish momentum, hence it's going to affect also the major currency pairs. For example, if you look at USDCHF 1H TF, you can see that we can go for a long because of the following observations in the price action.
1) The M pattern is completed, the highly probable price action reversal region is denoted in "Red shaded area"....
The price action completed the M pattern and started to grow with bullish momentum after getting rejected at 1.1772 (i.e, 78.6 fib level where the M pattern completed). It's expected to come to the neckline 1.18440.
Disclaimer: This is not a signal, this analysis is for educational purpose only. Please do your own technical analysis and get into the trade with...
The breakout happened on 4H TF and it came for a retest. Currently it's retesting the neckline of the W pattern which also completes the 1st target (38.2 fib level) for the short trade from 1.7495. It's expected to show a bullish momentum after getting rejected from the neckline. The TP targets are 1.7485 (1st) and 1.7560 (2nd).
Disclaimer: This is not a...
Potential gartley pattern is forming in 1H chart, we can open a sell entry. The entry, SL and TP levels are mentioned below.
entry: 0.93900
SL: 0.94230
TP1: 0.93524
TP2: 0.93302
Please do your own analysis before opening your trade.
