Here are a few breakout scenarios that might play out on GBP/JPY.... Since the price found support around 161.8% area there is a chance we could see a sharp correction to the upside before further continuation to the downside on this pair.Right now 128.44-48 is a key support level.Above it a move back up into 132.40 and 133.08 is possible. A break and close above...
Anybody else waiting for this breakout ? Keep in mind the trend is bullish so once price breaks out of structure and moves lower one must also look for opportunities to go long :) In my opinion 1.49-1.51 may very well be the zone where the price lifts off after the correcting lower so that makes up for the short target.
Kiwi skyrocketed last night after the interest rate decision currently trading around 0.714 area is approaching key resistance ahead ... Levels from last year that we broke below are now ready to act as resistance ? will it be enough to push the Kiwi lower or will Kiwi break out and post newer highs.Currently the only thing I see which might hold the pair is the...
Here are some scenarios for Pound/Dollar heading into the Brexit referendum.....I have covered both bullish as well as bearish scenarios on this.What do you guys think ?
This is an updated version of my view on EUR/USD.In my last article.I discussed the possible scenarios for the pair.As expected we are continuing the bullish trend after price bounced back from Channel support as well as 61% retracement level.So now that its clearly bullish again.The question what maybe the possible targets ? Well in my opinion the possible...
With Brexit referendum right around the corner it makes this setup a crazy but technically it looks fair enough.... I expect to see a possible bounce after 50% retracement completion.This is also falling in line with the previous bearish channel price broke out of.So price should react to it and in my opinion this could be an opportunity to go long.Short term...
Look to go long once price breaks above 81.04 area.On the upside targets are at 84 - 86 once breakout occurs and price retests the area of support.Stops can be placed below 78 or 79.20 area once trade is taken post breakout.
With the recent spikes in GBP/JPY it seems to be trying very hard to stay strong and not lose ground.Overall on a bigger time frame.Trend is sideways but the range is quite large Recently we broke below the T.L support from April 7th but Pound managed to move back above the T.L support quite sharply in a matter of 48 hours.So a break below current H4 low and I...
So i see the multiple scenarios which maybe at play apart from the one that I am focusing on which is currently the Reverse H/S. 1. REVERSE H/S 2. CONSOLIDATION INSIDE THE SYMMETRICAL TRIANGLE 3. BREAKOUT TO THE DOWNSIDE AND RESUMPTION OF MAJOR BEARISH TREND MINOR SCENARIOS ================= a) Bullish Breakout from symmetrical triangle and price heads...
Looking for a top formation and then a 38 percent retracement before continuation to the upside.The pair has broken out of Bearish channel for medium term so now its bullish.
Looking stronger by the day Oil may very likely hit the 50 mark before pausing for a bit of consolidation.What do you guys think ?
Eur/Usd has been trending lower for the past two weeks and is near the 61.8% Fib level as well as closing in on the Trend channel support so we could see a bounce back as we conclude the month of May but how strong will this bounce or move back towards the upside be ? Another scenario would be a breakout of this Trend channel and a further continuation of the...
Hello Everyone its been a while since my last post.So here's my latest trade idea for the Aussie.So far its performing very well against the Greenback.So that qualifies it for buying the higher lows above the T.L support from January 2016 and I believe if it continues to grow at this rate we may see a test of 0.7770 and 0.7944's so almost hitting into the 0.80's...
Pound/Yen has completed 50% retracement of its previous leg.It may continue lower and we may see 157.42 if the support at 158.56 doesn't hold this time around.
The pair left a Doji and seems to be following it up with a good Bullish candle ahead of the Trade balance report in 3 hours and 46 mins.Is the Kiwi bottoming out ?
EUR/USD found resistance at 1.1218 last week and followed it up by correcting all the way down to 1.1078 and closed at 1.1144 area last week.The pair moved as much 380+ pips last week.The pair broke above the 61.8% retracement level from 11th Feb of 2016 last week but closed the week under it.We may see further consolidation.Once we break above 1.1218 we can...
CLOSED @ 96.20 last week . Dollar failed to break 76.4% retracement level from the previous leg last week.... though still bearish , we have a Doji on day tf.Chances of a near term higher low formation and if it does , it could lead to a short term move continuing higher but if the weekly low breaks then we should continue lower and levels to watch should be...
USD/CAD has declined sharply after placing a top @ 1.4687 back on JANUARY 20th of this year.Currently seems to be consolidating within the the bearish channel under 1.3450-1.3350 100 pips range....Still however we do have more room to the downside where we find the T.L support from September of 2014 where the major bullish trend began and this could very well play...