The Aussie has made some strong gains against the dollar since the new year, but now that America is officially great again, we may see a reversal soon.
I will look for an entry at the completion of the cypher, but divergence on MACD and RSI indicates it may run out of steam before then. It also has ...
In my opinion, we have an excellent potential opportunity to get long and continue the general consolidation pattern we've been in since the beginning of 2016. The bottom trend line is a very strong support, going back more than 2.5 years. You must look at the daily or weekly chart to fully ...
Possible post Trump madness retracement?
The dollar/yen came up to a major trend line and has not made an attempt at an upward breakout. Today, a minor trend line was broken to the downside. I will be waiting for a retest of either/both trend lines and looking for a good place to short. Three estimated targets are ...
I think this pair is in a long term uptrend, but we have a good chance for a nice pullback here. I am already in @ 84.57. Excellent risk to reward.
Very clear divergence on both MACD and RSI indicates a slowing upward momentum. A minor trend line has been broken to the downside, a good entry would be ...
Looking for a good entry for another impulsive move down. I'm going to sell a half position on the next rally and sell the other half upon a downward break of the trend line. Target for both entries will be the 0.618 retracement level.
If we get a little help from the employment data for these two currencies tomorrow, that could trigger a nice impulse to the downside. MACD and RSI are both neutral and falling. I will be looking to make a half position entry soon and save the other half for when the news actually comes out. I believe there could ...
The AUDUSD is being wedged in by 3 separate long running trend lines. I believe the most likely scenario is a continuation of the long term downtrend. Price recently made an upward outbreak attempt but came back down immediately. This is a very long term trade so I'm talking about a very small lot size.
I see at ...
I think we will continue this downtrend to the bottom of the channel. There are two possibilities, so I will be playing them both.
Entry #1: 0.7585
Entry #2: 0.7596
If we reach the bottom of the channel, watch for the breakout to the downside for a much larger move. Thanks!
The AUDNZD has broken out of a corrective structure, following a significant upward move. Will be buying on any pullbacks and targeting the 1.272 fib extension from the beginning of the impulse. This trade is especially valid if we make a significant break of the 1.054 area.
USDJPY is entering an area where I believe there is a strong potential for a bearish move.
Divergence on 4hr MACD and RSI
Resistance from top of channel
Waiting for another small up move, may enter short upon downward breakout of minor trend line.
Went short on the cable as it has bounced off a trend line and is displaying divergence on both the MACD and RSI indicators.
TP: 1.450 (or when red trend line is reached or 5pm ET Thurs)
I will only keep this trade until 5pm ET (Thurs) as the Brexit vote results will start to be revealed ...
Pattern within a pattern. Smaller bearish butterfly pattern within a bearish gartley pattern.
I am currently long in this pair and will be selling @ 1.15. Target will most likely be a retest of the blue trend line shown.
I am not sure if that is a valid butterfly pattern so any input regarding that matter would ...
Price has broken minor trend line (purple) to the upside. Price has also tested the 0.618 fib retrace twice without breaking downward further.
There are a few major trend lines (red) which provide support. Please zoom out to see just how well respected these have been in the past.
There is also divergence on ...
PRZ is green box. Looking for an entry around Point C of gartley pattern. This would coincide with the orange trend line.
If price breaks trend line, I will be looking for shorts.
Targets will be 0.618 of BC leg and full completion of advanced pattern. S/L just below point A.
I believe this pair will make a move soon as the wedge gets narrower between the blue and red lines. I think we are in a corrective structure from the sharp drop in late april and will make another large down move soon.
Divergence on MACD
0.786 Fib retracement
Waiting for a break of the red or blue line to go ...
The AUDJPY came up to the trend line which has held for a very long time and made a fairly sharp impulse down, indicating to me that there could be a significant move to the downside once more.
Waiting for a 50% retrace of the downward move to enter short. This would also give us a nice head and shoulders ...