Trend line has been in play for quite a while with nice, widely spaced touches. A bearish break down is certainly possible but my initial trading plan here would be to look for some bullish candle activity while interacting with the line. If not, brace for a break down. Lets see
A breakout may occur. But im thinking we get another sell off once it interacts with the trend line. Either way, i'll wait for confirmation before i make a trade here. Trade carefully.
Bearish sentiment here for sure. A downward breakout could be a powerful move in what has a been an indecisive market for several weeks now. Interest has also been piling into Put options for SPY as well. Keep a watchful eye
DXY clearly in an upward channel. This pattern looks bearish in nature and im expecting a breakdown reaching lower lows. USD pairs are likely to follow suit
These patterns are pretty high probability, IF, they do breakout in a bearish manner. Lets see if it continues to develop. Happy trading
This is a counter trend trade but GBP has been selling heavily and may need to correct to the upside for a time. This channel presents a good opportunity to do so. Lets see if it play out. Happy trading
Gotta love when they happen like this. This one is filling to the corner too. Im expecting a nice and directional breakout. For the time bring im neutral as to which direction but this makes for a great bracket trade with entrie orders both above and below the structure. Whichever one triggers wins. USD is garnering some momentum vs several pairs but so has JPY....
Pretty large wedge. Im looking for a bullish breakout here. Looks like it may happen very soon. Keeping a close eye on it. Will be buying the break. If no break, then no trade
The Japanese Yen has just been on a tare. For over a year year now its been dragging pretty much every opposing currency into the dirt. This setup is merely a continuation of that observation with a triangle pattern here contracting nicely. Definitely expecting another bearish breakout. Virtually identical setups can be found on other JPY pairs as well. Enjoy