On D1 I see a bullish trend that paused/halted and became a ranging market. Recent rejections show me that this pair may head up again, at least to the top of the range (143.90). The s/r zone I have drawn has held up so far and today we had a deeper penetration of the zone too. We also have a close above the zone with a pin bar candle. This gives me a bullish...
Preceding trend – has been bearish since April. Current price action – Pullback to a major S/R zone. Factors of confluence: - Price is below the 50 EMA. - The breakout was very strong – note the large bearish candle that shows momentum with the bears. - The pullback is quite weak – note that it has taken 5 bullish candles to recover the gains made by the...
Preceding trend – bearish Current price action – Ranging/Consolidation The range is well established and taking a short at its top would be in line with the major trend. A trend continuation leading to larger gains cannot be ruled out either. For an entry signal I will be looking at price action on H4 and H1 time frames. Extending the target will depend on how I...
Preceding trend – bearish Current price action – Pullback to a major level My chart shows exactly what I am seeing and anticipating. Note that a recent breakout-pullback on the bullish side recently worked out well too. I will be looking for an entry on H1 time frame. We can have a large target here, as the next major support I can see is way down to 0.5920. I...
It is obvious that: This pair is in a down trend, Recently, price has been in a range (consolidating) between 1.3750 and 1.3390. Taking a short at the top of the range would be a high probability trade that is in line with the major trend. This what I intend to do with target just above 1.3390. Even with a generous stop, this has the potential to provide a +3R...
Those of you who took the bitcoin short trade I posted on 11 June, would have made massive profits, congratulations to you!! Since I closed that trade, price has gone into consolidation mode within an equidistant channel. To the up side 22,950 is the level to cross for a real recovery to begin. On the down side, the psychological 20,000 level is the first hurdle,...
The area around 1.6560 is quite significant as seen on the daily chart. Even though recent price action is quite messy with large wicks on both sides, I retain my bullish bias. I think we can see a base that has formed. I am looking for a dip down to 1.6560 before moving up to the next S/R level located at 1.7110. If this setup works out as per above, we have the...
This pair has made parabolic gains since April 2022, a strong pullback in May notwithstanding. The support at 0.9560 was tested several times but held firm. This level became the base from which price launched again. Last week saw a strong dollar again and a break above the next significant level at 0.9840. IMO we are bullish again and this is my bias for the next...
The 29,500 region was a solid support since Jan 2021 but that may have broken as the price action over the last 4 weeks shows. Price has been hanging around that region and if you switch to the daily view, you will see that it has been consolidating in upward sloping channel. I think that over the next week or two, we may get better clarity on what lies ahead....
This pair has made parabolic gains in 2022 and there seems to be nothing that can stop it. As the weekly chart shows, we did have a retracement recently, but note that the gains made by the bears in 3 weeks were recovered by the bulls in just a week. Price is now on the verge of breaking the 21 year high at 131.347. Checking out the fundamentals, I realized that...
The recent price action is corrective and within a channel structure. Many call this PA as a flag pattern (seen better on the H4 chart). Either way, price is now at support and I expect this 15.4240 region to hold. It has been tested a few times already and I am ready to take a long here. Additional factors in favor of a long are: the preceding trend was bullish...
This pair was strongly bearish recently, but 2 weeks ago it started consolidating. The consolidation is rather tight, all the moves up or down have been contained within 1 bearish candle (the H4 candle of 19 May). My bias continues to be bearish, mainly for 2 reasons: the preceding trend was bearish and price is below the 200dma. This trade can be taken in a few...
This pair has been bearish since April. The recent retracement has been mostly corrective in nature and now price is stalling around the 0.9100 S/R area. I am looking for the opportunity to take a short targeting the next support at 0.8920. If you like my analysis, please give it a “thumbs up” and follow me to get immediate notifications. Always use sound money...
The swissy had a good week but I see signs that the USD is ready make up the recent losses. See the price action on your H4 chart to see why I think that a bullish continuation is likely. The pair is certainly bullish overall and I am of the opinion that the support at 0.9700 will hold. A 60 pip stop will be enough to safeguard a long position and we can target...
I am hoping to get the opportunity to take a long at 127.16. My reasons/checklist are as follows: Current structure – Consolidation/Ranging (2 touches on both extremities) Long term trend (daily chart) – Bullish Preceding trend (on H4) – Bullish Relationship of price to 200dma – above (bullish) Potential R/R – 2.5R or more If you like my analysis, please give...
The last 4 weeks have been seriously bearish for this pair but in my opinion, this is about to change. The 200dma has acted as a dynamic support/resistance and held the decline. Friday saw a decent amount of recovery and we overcame the significant 158.00 level. I am looking for a small pull-back and signs that we are resuming the uptrend. With a stop below the...
The fact that this pair is bearish is obvious and needs no further elaboration. The questions are when/if a reversal will happen or will the EUR get down to parity with USD. At this time, I do not see the bears slowing down, pullbacks are relatively shallow. There have been a couple of consolidation phases but for the most part, the pair continues to make lower...
In my opinion this pair is still strongly bearish. Yes, the candle of Thu made a lot of ground pulling back all of what it lost, but note how small the Fri candle is. The bulls just did not have much momentum, could not follow through - and this was NFP day when spikes and large moves happened on many pairs. Price is below the 200dma, I am ignoring the double...