Skoal_kodiak

Skoal_kodiak

Eur/jpy has failed to make a higher high and rejection off the parallel line in a long term down trend. It is currently consolidating at S/R of the previous leg down on lower time frames and the .75 parallel. www.tradingview.com Watch for rejection off .75 parallel. Short if eur/jpy fails to hold above 129.618 in the purple box. Entry could be rejection of...

Skoal_kodiak

possible set up

Skoal_kodiak

Momentum is slowing on the recent up swing. There has been 2 failures to hold above the recent leg down. This leads me to believe lower levels of support are needing to be tested. On the daily we have hit a previous line of resistance on the .75 line on the pitch fork . S/L: 0.67567 Target 1: 0.66181 Target 2: 0.65562

Skoal_kodiak Updated 

AUD/NZD coming down off the top parallel with a failure to make a higher high of the bounce of the lower 50 line. My target is the bottom parallel at the level 1.08438. Safe target is 1.09073 with a 30 pip stop.

Skoal_kodiak

I'm trying to play CAD weakness while avoiding USD. Wait to see if the EURCAD finds support for an entry on the black line. CAD GDP report is coming out tomorrow and is expected to be bearish. My stop for entry is under 1.5313 and then will adjust underneath fibs and medians on chart accordingly.

Skoal_kodiak

Looks like it about to fail to test previous resistance and test the daily parallel line. Im waiting for a reversal pattern on the candles. My targets are green .5 parallel that coincides with Fibonacci points and second target is red median line.

Skoal_kodiak

xauusd looks like a potential long for a bounce of the median line with multiple profit targets on the .5 .75 and 1 parallel lines.

Skoal_kodiak

Watch to see watch happens if we get a bounce of the the median line of the small pitch fork. Possible entry targets at the green circles with possible exits at the gold boxes.

Skoal_kodiak

Looks like NZDUSD -0.04% has reversed. There is a big channel weekly channel. There is also trend line at the top and could begin to form a wedge that could prevent price from testing the previous high. Wait for pull back and possible entry around the green box. This will probably get revisited. This trade can be done several ways. I marked targets using red...

Skoal_kodiak Updated 

When price is rejected from blue trendline there is an 80% chance to test median line . Potential for a modified Schiff watch and see for short entry under the dashed median line if breached it should accelerate momentum to the downside hopefully. Black dotted lines are possible profit targets. Exit trade if price red touches median line or blue trendline.

Skoal_kodiak Updated 

Looks like USDCHF is about to break through the parallel channel of the pitchfork and test lower levels of support below the blue dotted line. White lines are possible targets. A Fibonacci retracement also lines up very well with some targets.

Skoal_kodiak

Think about zigging when everyone is zagging. This would be a long I don't like guessing bottoms. But if there is a USD pull back this is what I'm thinking about. Price action bounce off the warning line of a much larger trend and there is a potential set up. The smallest pitchfork might not hold up but this is just something I'm thinking about.

Skoal_kodiak

Zig when everyone zags. I don't like guessing bottoms. Just something to watch in case we get a USD pull back.

Skoal_kodiak

Wait for a retrace up to around into the blue box 1.16387 - 1.16488 for a safe short. Watch for an accelerated down through median line. Yellow lines are possible targets.

Skoal_kodiak

Here's a couple possible set ups for a long or a short

Skoal_kodiak

Possible reversal for a medium term long. Price action has breached out of the down trend pitchfork and has broke the last warning line (black dotted). Price has tested first test of bottom blue trend line confirming pitchfork. Red median line coincides with a possible profit target of the daily .618. However online close out of trade if and take profits if...