Looking for short entries after Lower high formation around 38% retracement level and possibly higher at or above 61.8%
After turning bearish again in the short term.It seems likely that we will see a retest of the support levels down around 0.7448 - 0.7410 Look to go short on lower highs with a target of 0.7440
Look for shorting opportunities on Apple.
SHORT GBP/JPY and add more shorts on pullbacks with targets of 136 - 135.80's
Here are some of the scenarios for the week ahead. 1 Continued Consolidation 2 Bearish Breakout 3 Bullish breakout
Look for a breakout and move higher to complete a lower high formation within the short term channel.Look for shorts around 1338-1344 with stops above 1352 and targets down to 1318 or 1324
Price is rising for the pair right now ... but here's whats could happen not too long from now once we have another retest of the 61.8% area of the consolidation that's taking place inside the ascending triangle like structure which happens to be inside an ever bigger bearish channel.Well I believe we could see one last move to the upside which may very well be...
Here's how I see it , if price breaks out higher from consolidation.We could see a 38% pullback or even 50% which would be up to 136.82 .... but until the near term bearish channel holds up.We will look for shorting opportunities on pull backs :)
Currently on the sidelines on this but here's how I feel moves on Eur/Usd may play out as it proceeds.Keep in mind under the T.L resistance from 18th of August we should expect it to continue lower.If a breakout takes place then we may see it continue higher and possibly test highs of May 6th or June 23rd
Is Gold getting ready for one last push higher ? Well in my opinion I think that if it respects the support levels down around 1298-1304 and the Channel support line as well.We could a strong push higher from that 61.8% level which means that the only obstacle in its way would be the T.L resistance from July 11th.Once that clears out.I expect a retest of 1374...
GO Long on the breakout.... Targets : 134.58 - 135.34
Look to buy low and exit once price hits the channels high.I expect to GBP/NZD to slowly continue to make its way higher until it retests the T.L support turned resistance from a falling wedge structure from last year.We could see the price dive upon a retest of that zone 1.83-1.82 and then price may continue to move in line with bigger picture as the bears take...
Look to short G/U around 1.3150 and add more shorts 1.3188-94 with stops around or above 1.3280 and target 1.3024 - 1.2980
Currently trading around 0.8594 .... There is a room for another 100 to 200 pips to upside on this pair before we a strong downside correction on this.Keep an eye out for 0.8702-0.8802 and exit if you're long on this....I think we could see a move back into 0.8260's - 0.8048's once a top is in place.Look back to the Double Top Formation from back in 2013 for this.