amanpaulbhogal

amanpaulbhogal

Price action is trending downwards establishing consecutive lower lows and lower highs. A bearish high test rejecting the 0.7490 level, the 50% retracement and closing under the 38.2% Fibonacci level symbolises a continuation setup short potentially into 0.7190. entry - below high test stop loss - above high test target - support area at ~0.7190

amanpaulbhogal

A low test close on CHF/JPY presents an opportunity for a long position. Today's low test price bar has tested the 114.70 level and is likely to close above it as well as above the 50% retracement and the 20 ema. There is, adding to this setup, supportive hidden bullish divergence (trend continuation divergence). The Stochastic indicator is in oversold territory...

amanpaulbhogal

Price on USD/CHF has produced a high test bar ricocheting off the round 0.9500 level. RSI and Stochastic divergence support this short set up. entry - below today's high test close stop loss - above today's high test close target - aiming for 0.9290, previous low, close to 50 ema (ignore support line on chart at 0.9250)

amanpaulbhogal

The clarity of higher highs and higher lows makes this pair stand out boldly in this aggressive uptrend. Price has retraced into previous resistance (now support), and rejected the 10 ema, 0.618 Fibonacci level and is within the bullish trend channel giving a low test close appearing ready for a rally north. Entry - above today's low test Stop loss - below...

amanpaulbhogal

Today's bullish reversal bar has rejected the 50 ema, horizontal support at ~87.55 and trend line demonstrating a bullish rally. Hidden divergence is noted on Stochastic and RSI.

amanpaulbhogal

After a break below ~1.8150 and a strong move down price has retraced back to and rejected the ~1.8150 area with the 0.618 Fibonacci level being in spitting distance of it, and the 50 ema as well with a close below. Stochastic and RSI indicate convergence. Entry - below today's bearish bar Stop loss - above today's bearish bar Target - initial profit taking area...

amanpaulbhogal

The moving averages on CHF/JPY display shapely geometry holding the recent uptrend. There is healthy convergence on both Stochastic and RSI too. A pull back into and just short of ~115, but bouncing off the 0.382 Fibonacci level, has given what will be a bullish low test close implying a long trend continuation setup. Today's low test has also narrowly missed the...

amanpaulbhogal

A neat way to trade this to maximise the reward potential would mean turning to lower time frames such as the hourly chart. Sticking to the hourly time frame, a suitable entry would be the observable low with a stop preferably above the lower high (or high). The stop can be trailed on the way down behind each previous high upon spotting a lower high. The target...

amanpaulbhogal

Seeing a high test close on Friday below 1.5400 combined with bearish divergence on Stochastic sounds like preparation for price to possibly fall into perhaps a previous support level at ~1.5100. This set up gives a rough 1:1 reward:risk profile if the stop is placed above Friday's high test bar.

amanpaulbhogal

Crude oil has shown a promising downtrend respecting key levels where it's seen to be giving beautiful entries on its visibly apparent journey south. Currently, a high test close rejecting 99.60 after a pullback presents another such entry with a target area aimed at 88.50. 99.60 is within close proximity to the 38.2% Fibonacci retracement level. Today's high test...

amanpaulbhogal

Today's low test bar bounce on the 20 ema suggests a continuation of trend. Price has rejected and found support at ~1.0937. Price has also sharply risen above 50% retracement and is looking to close above the 38.2% Fibonacci level. Convergence on the Stochastic and RSI is pleasantly favourable. entry - above today's low test bar stop - below today's low test...

amanpaulbhogal

Gold (XAU/USD) has shown repeated weakness and is once again offering a short entry. A break below and a retest of 1240 forming a high test yesterday bodes well for further price decline. The reward potential is a hefty 5:1 on the way down. Although a set up is still visible, there are, however, a few words of warning. Beware of Stochastic and RSI divergence,...

amanpaulbhogal

The dilemma goes ... to short Gold or not? On the one hand, it has created new lower lows and lowers highs keeping the downtrend intact and offering a few but new shorting opportunities. Currently it has retested the ~1276 area and bounced off the 10 ema with a bearish close below. The session has been dominated by sellers but does this hold to continue sinking...

amanpaulbhogal

The salient characteristics for entering into a short position on USD/CHF on the 60 minute chart have to do with a pullback in play on the daily timeframe. Price action, on the daily chart, has hit resistance at ~0.9210 and is overextended above the key moving averages. RSI shows bearish divergence. Additionally, price has touched the Fibonacci extension level of...

amanpaulbhogal

Being in a daily uptrend, USD/CAD has strongly rejected a previous support level (1.0860), and the 0.5 and 0.618 Fibonacci level in its pullback and closing on Friday 29th August 2014 above the 50ema as both an outside bar and a low test giving well-founded signs of imminent bullish continuation. A drawback to this trade would be that the weekly chart is still in...

amanpaulbhogal

After breaking above the upper channel of consolidation at ~1.1035 on the daily chart and rallying into previous resistance at ~1.1185, is it time for a retracement back into the moving averages with today's bearish reversal bar? RSI bearish divergence seems to warn so in addition to the Fibonacci extension levels where price has reached 200% of the previous swing...

amanpaulbhogal

Price action behaviour, although still within the ranging within the levels 1240 (key support) and 1320 (resistance), is showing bearish signs with a few rejection candles and closes below 1312 at the uppermost resistance zone (~1312 - 1320) before sinking further producing a new low below the 1280 support area. After a modest burst of downward momentum, it would...

amanpaulbhogal

USD/CHF has found support at the previous level of resistance after breaking through once a support level at the round level of 0.9040. The pullback from the previous rally has tested this area which is also very close to the 0.382 (38.2%) Fibonacci level. The close of today's bullish price bar is above this area and the 20 ema. Both RSI and Stochastic are in...