Analysis: EURCAD is currently positioned at a significant weekly support level, indicating a potential reversal zone. Further analysis on the 5-minute timeframe reveals a notable change of character, suggesting an influx of buyers entering the market. Trade Expectation: Anticipating a reversal, I am focusing on the warning line of a pitchfork I've drawn on the...
NZDCAD : Navigating the Bullish Pitchfork NZDCAD seems to be respecting the bullish pitchfork that I've plotted on the chart. It's followed the script by touching the median line and is now making its way back down. The Anticipated Scenario I'm anticipating the price to retrace upwards to the liquidity zone above. The Trade Strategy I'll be watching if...
GBPCHF's Respecting Pitchfork: GBPCHF is respecting the bullish pitchfork as it's drawn on the chart. It touched the median line, and is coming back down, which is a pretty textbook move. All in all, things seem to be playing out according to the rules. New High Confirmation It managed to make a new high in the process. This kind of behavior often signals that...
Setting the Scene: Resistance and Attempts USDJPY has been knocking on the doors of a strong resistance level, it made 3 attempts and has failed. Bearish Breakout and Pitchfork So, what happened next? The price decided to ditch the bullish pitchfork and explore the bearish side. It touched the median line of the bearish pitchfork, and came back up for a quick...
Accumulation and Breakout: GBPAUD underwent a period of accumulation just below the median line, signaling potential upward momentum. The eventual breakout above the median line adds credence to this notion and positions the pair for a potential bullish run. Support from Accumulation: The accumulation phase beneath the median line not only reinforces the...
Price Action Analysis: The bullish pitchfork (marked in green) failed to reach its median line, leading to a breakout below the lower parallel. This breakout signaled a shift in market sentiment, potentially indicating a bearish reversal. Drawing Conclusions: In response to the breakout, a bearish pitchfork (marked in pink) was drawn to assess the potential...
Bearish flag pattern found on the GBPJPY pair's 1-hour chart, indicating a potential bearish continuation signal. Flag Pattern Description: A bearish flag pattern is a continuation pattern that occurs after a sharp downward move in the market. It is characterized by a brief consolidation period, forming a narrow and sloping rectangle, known as the "flag,"...
Introduction: AUDCAD is showing signs of a bearish continuation pattern on the H1 chart. A sharp move down was followed by a pullback forming a bearish flag pattern. Entry and Target: We can enter a short trade after a confirmed breakout below the flag's lower trendline. Our target is set at 0.86533, based on the height of the preceding flag pole projected...
CADJPY is currently in an uptrend and undergoing a pullback on Daily with an ABC pattern. 📈 After a double bottom formation, and the B point has broken upward, hinting at a potential trend resumption. 🚀 So, here's my plan: I'm looking to take a breakout pullback retest entry on the H1 chart🎯 Two targets in sight: 108.587 and 109.386. 🎯🎯 For risk management,...
Introduction: EURUSD is showing signs of a bullish continuation pattern on the H1 chart. A sharp move down was followed by a pullback, breaking above the latest fractal bar down. The subsequent price action formed a flag pole and a pennant, indicating a potential bullish breakout. This analysis outlines the setup, entry, exit strategy, and target for this...
Introduction: I'm looking at a potential bullish trade opportunity on the NZDCHF pair. The price is currently attempting to cross the median line of a bullish pitchfork, and it has also broken out of a rectangular pattern. A recent support level seen at a sliding parallel just below the median line. This sliding parallel has been respected 4 times in the recent...
USDCNH short entry with 2 TPs as marked on the chart.
Buying AUDCHF at lower parallel. TP ay upper parallel or H4 200 EMA whichever comes first. SL below the previous low.
Sell Limit Entry at upper parallel. Target profit at lower parallel with SL above previous high.
Going short on CADCHF targeting median line with a SL just above the previous high
NZDCAD short entry from median line till lower parallel.
Shorting EURAUD targeting H4 ema200
Sell stop (pending order) below 0.8470 Entry 0.84675 SL 0.86575 TP 0.81768