We are currently in on this trade on a short because o weekly resistance being respected with a weekly candle close below the area of resistance. However, the week started with a big push past the resistance line which is approaching our stop loss. We are going to let it run the course as the JPY index is in confluence with this short. Current R:R is 1:4.65. We...
We are long on gold currently. We have touched the 38% of the monthly leg, which aligns with the 38% Fib level of the daily leg, and resistance area on the weekly timeframe. TP1 and TP2 are extensions of the current leg give potential targets. Price is currently testing the weekly resistance as support once more so we need to monitor price at this critical level...
We are testing weekly support level with a strong rejection candle with the weekly body close above the support line. In addition to that, we have confluence with a harmonics (butterfly) pattern. Currently, we are long with an insane 1:9 R:R. Good luck traders be sure to like comment and share this post for more free analysis.
We are starting the week with strong bullish momentum. On the monthly timeframe, we respected a descending trendline testing on the weekly tf as well. We are looking for break-in structure on the upside before going long with a 1:2.77 R:R. We will keep you updated. Good luck traders!
We hit the daily resistance on USDJPY and are currently short on the pair. Structure is already showing some bearish movement on lower timeframes and we have a possible 4th leg of the Gartley pattern (not shown on the chart). This trade has a great risk to reward ratio and our targets are based on the Fibonacci Ratio as shown on the chart. Could we see more...
Monthly + Weekly: bearish impulse leg with correction. Daily: harmonic pattern completed and confirmed with an inverted hammer candle. We are currently in the trade. We are looking for structure to break on the upside on the 4H one more time before we run risk-free. Then we monitor the first potential area of resistance (1.6100) before we hit our TP of...
Amidst recent conflict with Iran and America crude has been an extremely volatile commodity. Monthly: Candle close below the previous resistance, yet a bullish impulse leg Weekly: Bullish impulse leg. Daily: Possible rightsholder forming. We exited the trade with small loss (net -16 pips). Currently, we are waiting for another entry with daily head and...
We are looking to run risk-free on this particular trade as the market opens. USD is experiencing much volatility as the Iranian-American conflict intensifies. We have a harmonic pattern that high probability to retest the neckline of the pattern. The risk to reward ratio: 1:3.39. Thank you for the support remember to like comment your ideas and follow us for...
Price touched the -27% level from the previous weekly leg (~1.2959 area), with a strong rejection candle of that area (weekly). We have two areas of support that align with the Fibs with TP1 and TP2. We are looking to see how price reacts at the 38% level (where we will be risk-free in the trade) and hold till the 61% or look for shorts for the next impulse to the...
We observed FOREXCOM:USDJPY close above a weekly support zone which indicated a move upward toward the monthly trend line resistance. However, a weekly impulse to the downside tells us that a minor retracement and continued impulse to the downside is likely.
We have two possibilities for reentries on the EURUSD trade we are already short on. The completion of the cypher pattern can indicate upward momentum with a minor retracement up to a 50% retracement. You will monitor Price to determine where the pivot point maybe then executing your entry. Good luck with the new week traders.
We are monitoring the entry of Gold with a potential short to the 1435 level. We are trading under daily support/resistance with a potential break of the 4H trend line to the downside. Monitor price action near this area and follow your trading strategy before entering the trade. Good luck traders!
After the completion of our last analysis price action is displaying the rejection of the 1.10832 level, which was historically significant weekly support and resistance. We are looking for structure to break on the downside on the 4H to monitor potential entries. Be sure to follow your trading strategy before executing. We have several TP zones. TP1: 1.1020,...
We see a great short opportunity with FOREXCOM:GBPCHF as a symmetrical triangle pattern formed with a break and close below the of the support trendline. We are waiting for a retest on the 4H otherwise this is primed perfectly to be a beautiful short to TP1 of 1.6230 (also the 61% fib level of the impulse leg/previous resistance), and TP 2 of 1.2480 which was...
Price action has just reached a critical zone of 1.6200 which has historically been a major area of structure for FOREXCOM:EURAUD . The level coincides with the 0.50 Fib level of the daily leg as well, acting as more convergence for entering a trade. If the daily candle holds its current position and closes below the 50% level we can start assessing potential...
After successfully hitting the short on FOREXCOM:EURUSD we are tending towards two major areas of support. In the daily time frame, we can observe the 1.0995 level as major support and resistance several times on the previous structure. The level of (potential) support coincided with a major fib level as well, adding to further confirmation for a potential...
We just completed a successful short of FOREXCOM:CADCHF with the possibility of another set up forming around the 0.75245 level. The price level has confluence with the 0.38 Fib level as well. Price may make a put to said level before driving back down completing the weekly target. Monitor the 4H timeframe when (& if) price nears the 0.75245 level. Be sure to...
FOREXCOM:EURGBP is respecting daily lows and is consolidating on a major fib level experiencing resistance at the 0.8646 level. If price can successfully break above the level with a significant retest (on the 1H) then you can expect a move to the upside. Place the target one just below the previous weekly low. The weekly candle formation is also an indicator of...