Norsefx

Norsefx

A bearish bat pattern is forming on the 30min chart. D-leg is 124.36 T1: 124.14 T2: 124.00 A break of 123.68 without D-leg touch in invalidation of the setup.

Norsefx

Bullish bat. with 4H 200ma acting as confluence. My orders are on the chart.

Norsefx

Inverse H & S forming. This is also a area of interest on the daily chart.

Norsefx

Oil closed friday right above the support at 42$ We saw some bullish divergence closing in on support, and we have a nice doji close. If we see a bullish move my first target will be 46$ and use manual management on the rest of the position. I am long on oil @ 42.09

Norsefx

UJ is not doing much right now. It broke the falling wedge pattern last week, and retested the upper trendline of the bigger triangle pattern. And we are now waiting for the next move. The overall trend is bullish, but this week, we may see some downside.

Norsefx

The Euro is still consolidating inside of the big triangle pattern on the daily. Price is now forming a potential bearish Bat pattern D-leg at 1.1358. That also lines up with the trendline starting on May 15th and the 200MA My stop on this will be above the upper trendline (grey)

Norsefx

Price broker out of the symetrical triangle last week. Price hit resistance at both the harmonic triangle move (1124) and the 200MA. Price closed below the 21MA on friday with big selling volume on the break of 21MA. I am already short from the harmonic move @1123. SL: 1128 Target 1: 1100 T2: Hold with BE stop.

Norsefx

Oil has been falling since it broke out of the bigger bearflag on the daily chart. Support now is getting close 42-41.75. I am looking for a long position down at support. This is going to be a short term trade given the bearish nature of oil.

Norsefx

Daily chart shows a bearish direction. Short term is bullish, with resistance and the smaller trendline and 55Sma. I am waiting for a long oppurtunity from the lower trendline.

Norsefx

UsdJpy is closing in on the retest of the breakout fom the bigger triangle pattern that has been forming the last few months. We also got the smaller rising wedge pattern. Support: Upper trendline/55Sma

Norsefx

Update on yesterdays analysis. UsdJpy got a inverse head and shoulder pattern on the 4H timeframe. So this could be an interesting week. 124.10 - 124.60 is now a major battleground, bring the popcorn.

Norsefx

Shanghai is selling off, and now closing in on the 200sma. A break off that will signal a sell opportunity down towards the 3000 level.

Norsefx

After the break of the big bearflag on the daily chart, price has failed to find any support so far. Next support is located at 41.75 level.

Norsefx

EurGbp has 2 bullish patterns forming right now. The bigger pattern is decending wedge, and inside of the wedge, price is now trying to form a inverse head and shoulder. The issue with the smaller pattern is that both shoulders are at the same hight. So my bias is bearish untill price reaches the lower trendline.

Norsefx

UsdCad closes the week at small resistance area. If this area hold i will be looking for a short down to the 1.29 area. If price breaks above, i am looking at 1.3250 for next area of resistance.

Norsefx

EurUsd now got an small decending triangle inside of the bigger consolidation pattern. Now waiting for a buying opportunity down at the lower trendline

Norsefx

UsdJpy is currently consolidation inside of a big triangle on the daily chart. 2 attempts to break the upper trendline. Closed 2 bearish candlesticks in a row. Stops above the spike high.

Norsefx

UsdJpy in currently consolidating inside a big triangle after the big bullish bat pattern. Rejected 2 times at the trendline, that area is also previous sell area. Closed 2 bearish candlesticks in a row. A leg down might be underway. Stops above the spike high.