davistradingforex

davistradingforex

This is one possible direction for price to move with the news tomorrow. On other charts the daily for UJ looks like we are in a breakout and the daily for EU looks as if we are at major resisstance. If the current active momentum holds I will be targeting these levels. I will be creating a chart for the other direction aswell to prepare for both possible...

davistradingforex Updated 

Price action finished last week in the tip of a nice minor wedge. Moving into this week I will be placing intermediate support zones formed around 1.17288 and intermediate resistance levels around 1.1839. Monday should either break up out of current wedge to upside to retest last weeks highs or break down to test intermediate support and follow thru with the break...

davistradingforex Updated 

The 15min scalper looking like the embedded short term wedge is coming to a point. Monday should give a nice couple scalps and I will be tracking the minor waves looking for entries throughout the day. I am not expecting any wild movement until the major news later in the week which should give a some major volatility for scalpers. Currently price action is...

davistradingforex

The current intermediate active momentum is bearish but the bullish impulse wave is active until trendline is broken to the downside. Harmonics are loosely forming and there is the begging of a wedge with a weak top at its first point. Bulls have been back in control since may 29th and currently need more confirmation before returning to major bearish momentum. ...

davistradingforex

Price action is sitting at resistance from may 9 support. A Pullback to 1.150 zones and lower trendline support would embed a point c on the active harmonic. A candle close below the trendline and 1.172 zones would confirm the move to 1.1540 An extension up to 1.12 zones would be about 50% retracement of the major bearish impulse and create a nice point B of...

davistradingforex

Price action is currently sitting at pivot support from November 2017 and trendline support from January-May 2017. A nice bullish 3 bar candle pattern has completed at the end of major bearish impulse wave giving the possibility of a pullback and 3 or 4 more bullish candles. The left shoulder, head and neckline are currently forming and if we get a push to 1.209...

davistradingforex

The 4hr trend scanner currently looks bearish and has not given signal to intermediate upside yet. Indicators are showing signs of intermediate momentum bearish with short term momentum oversold and needing a minor bullish pullback. If we get the pullback I am expecting price action to respect the major wedge trendline and embed another head and shoulders. If we...

davistradingforex

Daily price action looks to be forming a head and shoulders with a defined neckline at lower trendline support. There has been 5 short term waves in the last intermediate bullish impulse from 104.317 to 111.687 giving a head at wave 5 around the major wedge trendline resistance. If the 5 waves hold up we are in wave c of the abc correction and wave 3 of the 5 wave...

davistradingforex

Monthly price action looks to be in a major wedge and approaching upper trendline resistance where we have seen selling power in the past . November and December 2017 and December 2016 there was a respect of the trendline and a significant move down from it. It looks like there was a minor engulfing candle 2 weeks ago with 2 weeks now of indecisive price action....

davistradingforex Updated 

Trade The Breakout - Hedge The Breakdown - (stop zone applies to both, active order open long and hedge zone outlined short)

davistradingforex Updated 

Trade the Breakout

davistradingforex Updated 

Trade The Pullback

davistradingforex Updated 

Trade The Breakdown

davistradingforex Updated 

Trade The Breakout

davistradingforex

Just entered position 1 on Gbp/Usd long with target 1 at 1.38541 @resistance from February 2016 support. If price action makes it up to 38541 it will paint a nice right shoulder to retest last highs. Possible that it breaks down to 0.236Fib zones for more entries but I think it is more likely that price rally's up to 38541 before heading to lower levels. Overall...

davistradingforex Updated 

If price breaks down I am targeting 6500 next round number zone

davistradingforex

looking for wedge breakdown

davistradingforex

Looking at a floor levels and key zone around 6000. If that breaks hard to the downside I will be targeting a full next level floor at around 1.618 fib of last cycle