Tradeciety

Tradeciety

AUD/CHF almost there for a decent short but one thing is missing. So far, the AUDCHF has almost all the criteria: Head and shoulders, completed Fibonacci, break of 20 SMA, short momentum is increasing and outnumbering buying interest. The only thing missing is the break of the flipzone/neckline.

Tradeciety

On a break below this flip zone, a short becomes very interesting. It has all things you need: Head and Shoulders, completed Fibonacci, break below the 20 SMA and momentum to the downside is becoming greater >> distribution between bullish and bearish candles is changing. Make sure to wait for the price to fully break the current zone.

Tradeciety

The macro situation is pointing more towards additional USD bullishness with the upcoming FED rate hike but the USD has been rallying for the past few weeks so a correction could also be likely. Right now, the USD Index is in a head and shoulders and as long as price doesn't break the neckline, it's a neutral chart. This will set the tone for the other USD...

Tradeciety

With the major strength on the US-Dollar, the EURUSD is now back in the demand area. Lots of people got burned buying on the way down but waiting for key areas to time trades is the 'safe' way. potential long ideas will become more interesting soon again

Tradeciety

My two favorite setups for the day are the AUDNZD and the USDJPY. Both are showing top patterns with accelerating short momentum after hitting major resistance areas. The AUD/NZD is already on the move and currently hitting a previous support zone. It has quite a bit of room to the downside. The previous squeeze on the AUDNZD with the long wick added good...

Tradeciety

The reversal on EURJPY is shaping up nicely. Price found new sellers after it has moved into 116 but not enough to push price below 115. The shakeout (or squeeze) after price touched 115 for the first time was textbook and many traders probably bought the dip. Price is now moving back into the 115 area and a break and retest of this level could then open the...

Tradeciety

Over the past days, I have been curiously listening to traders who bought the GBPCAD way too early and got squeezed all the way beyond the last swing low. It is a beautiful and classic setup and a good lesson to learn - just the fact that price is trading into a previous low is NOT a good enough reason to speculate on a turnaround . Our 20 SMA is keeping us out...

Tradeciety

This is a market I started watching 2 weeks ago when the sell-off suddenly started to lose momentum and price rounded off. This morning, the market posted a major squeeze. Price gapped down on the open, rallied for 2 candles to close the gap and then immediately sold off. CTrader showed an 80% long exposure all the way through the sell-off as many traders were...

Tradeciety

There are quite a few reversal setups building up right now and I wanted to highlight one in particular. The AUDSGD has been in the recent uptrend for some time and 1.048 is the bottom of a previous resistance zone. The ultimate high is a little higher at 1.0516 but it seems like price is already finding supply. We haven't broken the 20 SMA in 10 days and the...

Tradeciety

The EURGBP has it all with a textbook H&S formation - the right shoulder even acted as a retest of the 20 SMA. The Head was a classic squeeze-spike. The downside potential is limited and price will run into the first support quickly at 1.9R. If price can pick up more momentum, we could see a larger correction. Europe is opening soon, which will give more clues...

Tradeciety

I have been watching the USD/MXN for days now and it feels like it's setting up something. For the first time in a long time has price broken the 4h 20SMA. Price hasn't started a new bearish trend yet and even broken the 20 SMA slightly to the upside. However, right now, the USDMXN is putting in a lower high and, if confirmed, could validate the market top and...

Tradeciety

The USDCAD is setting up an interesting scenario. The rally has clearly lost momentum and with the triple top, it confirms the lack of bullish support. The RSI is giving us a divergence and the BB even showed a brief spike on the head. There is a support below current price and price could stay in that range without a bearish catalyst. Keep in mind that it's...

Tradeciety

If price can successfully retest the Daily 20 SMA, which also falls into place with an important support/resistance area, we could see a new short reversal on the 4H. The 4H shows a classic double top and a similar pattern to the AUDCAD (linked below). Again, as long as price stays above the 20 SMA on the 4H and does not show a stronger rejection of the Daily 20...

Tradeciety

Another interesting Aussie pair that is currently struggling to find new buyers to get price through this massive resistance cluster. Last time AUDCAD traded below the daily 20 SMA was back in June and every prior attempt to break the 20 SMA have been rejected. Those types of markets are great because so much buying pressure has built up during the trend that...

Tradeciety

It currently looks as if AUDNZD is able to pick up new short sellers after price dipped into the supply area starting at 1.072. At the same time, we saw a double top with two close by swing highs. We are missing a momentum-shift candle (a large red candle) that breaks the 20 SMA to complete this reversal pattern.

Tradeciety

The AUDNZD found support at the previous demand zone which has started the last bullish trend. Price shot immediately back up after it has reached the demand. A classic market bottom at a key support level. Currently, price is able to keep up the bullish momentum and eve broke the 20 SMA to the upside. 1.055 is a strong support and resistance level and a break...

Tradeciety

another interesting setup right now is the EURSEK after is has moved into the 9.6 and faked the previous high. The 20 SMA broke afterwards with a strong momentum candle but price bounce off the trendline and demand cluster. The signal here will be a confirmed break of the trendline. To the downside there are a few potential short targets.

Tradeciety

The NZDUSD could set up a short reversal this week. NZDUSD made a new high today and then showed a pinbar, indicating a fakeout. There are some key price levels close to current price and market structure is ideal. !!! However, it's too early to do anything just yet and there is also a higher market top at 0.73. Keep in mind, the key to the reversals is the...