EURUSD has been declining from several weeks now and every one was trying to pick a bottom for a bear rally. Well let me try my version on it. I have applied Elliott Wave from the top of the pattern and I see a 5 Wave decline which means this is just a first round of corrections i.e Wave A. Once Wave A is complete we will see a retracement of 50 to 61.8% of the...
AUDNZD has been in a range forming a potential triangle. The price action is now heading towards the top of the triangle trendline where it is also forming a bearish Gartley Pattern. R1 daily Pivot is also around the same area. Its a good candidate for short entry. Happy Trading!!
USDOLLAR Index has rallied for the past few days and is now at resistance area. RSI is oversold with Negative Divergence. The candlestick pattern is giving a bearish picture with an Evening Star pattern. One can go short on USD pairs and Long on others. Happy Trading!!
GBPUSD has corrected for several weeks now. The momentum indicators are in oversold zone and the price action suggests the correction is over for now and we can see a small rally to 1.6930/80 zones where it could find resistance and start its down trend again. A small rally would also create a bearish head & shoulders patterns and the minimum target towards...
DOW is set to go down further to 16100 levels where it will find Daily Support as well as Fib 127.2 Extension of the current down move. One can short Dow at current levels for a nice risk reward position. Happy Trading!!
EURUSD has just completed a Bullish Bat Pattern. Given that the short term trend has changed towards upside.. I look for greater targets.. Good risk reward present with the trade on long side. Happy Trading!!
Gold outlook is bearish as it is completing the Triangle and would break down and go lower to 1050 levels. That would potential end the correction and a new bull rally would start in Gold. Go short on gold but look out for buying opportunity around 1050 levels. Happy Trading..!!
GBPJPY completed Bullish Gartley Pattern and is forming a Potential Bearish Cyper pattern.. Trade both ways Up(Gartley) & Down(Potential Cypher). Happy Trading!!.
GBPJPY is for a potential Bearish Gartley Pattern. Go short around 173.85 with SL at: 174.05 and Target at 173.56.
USDCAD altough rising higher is loosing momentum which can be seen by RSI divergence as well as ADX dipping. Current double top on 60 mins chart is good opportunity to go short.
Bearish Bat Pattern Completed on USDJPY. Going short with great risk rewards.
GBPJPY is forming a Bearish Gartley pattern. Short around 173.26 with SL at 173.55 and Target at 172.88.
USDCAD is forming a Bullish Flag Pattern at Resistance zone. Trade long if the flag channel is broken on upside with Risk Reward defined.
AUDNZD is forming a bearish Head & Shoulders Pattern. One can go short for a short term trade with Risk Reward defined. However, going by the bigger picture, one can go short here and looking for a potential target of Channel Lower limits as targets discussed earlier in AUDNZD Structure Resistance chart. Happy Trading!!
USDCAD is Retesting the structure resistance level on daily chart. Potential trend continuation expected as price action retest the structure and then go lower. The idea is to go short for trend continuation trade with stops above the resistance levels. Targets can be Fib 38.2 and 61.8 of the rally. Aggressive traders can stay in trade with trailing stops as the...
AUDNZD has been trading in a channel for a while and the price action is coming to test the last wave of channel (E Wave). It is expected to move lower from channel resistance and break down below the channel. There is minor structure resistance zone around the same area. The idea is to go short with minor targets at FIB 38.2 and 61.8 levels and stops being above...
USDJPY was forming a Flag Pattern which just gave a breakout. Go long with great Risk Reward
EURGBP completed AB=CD Pattern. It might potentially form a Bullish Cypher Patter. Trade both short & long .