UnknownUnicorn8106969

UnknownUnicorn8106969

I have entered a short position on AUDCAD. 4H linear regression shows the price at the upper deviation and price history suggests that the price will return to the lower deviaiton. The price is in a nice downtrend.

UnknownUnicorn8106969 Updated 

I have entered a short position on AUFJPY for the following reasons: 4 hour fib retracement to the 78.6% area, which has previously been a good area of resistance There is the formation of a double top at this 78.6% area, enphasising the potential for a downward push A glance at the 4H linear regression shows that price is currently above the mean and also...

UnknownUnicorn8106969

A symmetrical triangle pattern has emerged, and looks like it is coming close to the end of the chart pattern. Price has tested the 70.000 key level a few times and bounced back up from it within the current consolidation. This suggests to me that the price will break out of the consolidation and continue the uptrend. This could play out to get some big pip gains.

UnknownUnicorn8106969 Updated 

After price consolidation, the market has broken out of the rectangle and closed 16 pips above, indicating the return to the uptrend formed before the consolidation. ADX just before the rectangle indicated a string uptrend was forming - potential to re-enter long positions. An EMA of 55 shows that there is still a long-term uptrend forming, however stochastic...