bruzzese1

bruzzese1

Hi Traders, 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 the upper boundary of a long term wedge formation...

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Hello Traders, 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 appreciate this support line. If this line is broken to...

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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 shown on the chart. MACD and RSI are both...

bruzzese1

Hello all, 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 any retest of this line. There is also a goofy...

bruzzese1

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. Thank You! Brandon

bruzzese1

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 be some wild oscillation no matter what the numbers...

bruzzese1

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 least 2 ways to play this: 1) Sell at next...

bruzzese1

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 S/L: 0.7620 TP: 0.7524 If we reach the bottom of the channel, watch for the breakout to the downside for a much larger move. Thanks!

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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.

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Potential pattern completion for a possible reversal soon. Divergence on RSI and MACD. Entry: 1.2906 S/L: 1.2843 TP1: 1.3018 T2: 1.3087

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USDJPY is entering an area where I believe there is a strong potential for a bearish move. 0.618 retracement 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.

bruzzese1

Cypher pattern nearing completion inside of what looks to a be a bullish flag formation. Entry: 1.2939 S/L: 1.2879 TP1: 1.3006 TP2: 1.3049 Thanks! Good Luck!

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Went short on the cable as it has bounced off a trend line and is displaying divergence on both the MACD and RSI indicators. Entry: 1.4777 S/L: 1.495 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 sometime shortly after that. I personally believe...

bruzzese1

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 be highly appreciated. Thanks! Good Luck!

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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 MACD and hopefully we will see more should the price...

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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. Entry: 1.116 S/L: 1.1075 TP1: 1.135 TP2: 1.150

bruzzese1

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 either long or short, but as I said, I favor the...

bruzzese1 Updated 

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 pattern. RSI and MACD showing divergence, especially on...