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Techn Analysis: 7 4hr candles could not make a Lower low have price has terminated at 127% of the Fib extension on the Daily chart.
Double bottom on 4hr. This is a high risk trade as the 15min has a change of trend.
Looking for a move fib of the break down.
Price should retest confluence TL and 38.2% Fib correction level before more selling occurs.
Buy at ...
USD is in No-Man’s land and we did not see any big moves like the other major pairs.
I had to take a quick look at the USDCHF considering the fall in the other currencies such as AUD & EUR on Friday. Usually there is inverse correlation between the USD and other currencies. Currently there is none.
Technical analysis suggests we can look at trading this pair ...
The Aussie dollar has turned bearish on the weekly and daily chart. The Bias is bearish till price hits the next fib level 78.6 (0.7105) indicated by the orange line on the chart.
The long term trendline has been clearly breached and on the weekly and daily with a bearish candle closing beyond the upward support. We can now trade this to the next level for around ...
This is what I am waiting for on the 4hr chart.
I’ve been keeping an eye on the USDCHF for a while.
Price has taken out the previous swing high and has now broken a supporting trendline.
This is the confirmation I needed to take a short against the Weekly Bias on this pair.
The daily looks prime for a correction to the extension targets.(see green arrows) before the BULLS re-enter long.
USD/CHF - SHORT
My analysis on the daily Ethereum chart tells me we are at the point where we could see a large move on Ethereum. My personal Bias is Long and I see a bullish wedge formation which can lead to the next leg up.
To find the point where price may terminate we measure the opening of the wedge from the 1320 ish area to the bottom support line = $1,112.00.
I then ...
I like to analyse the Weekly time frame to give me a perspective on when I am forming my Bias.
The Bias is still bullish and it simply looks like a minor correction of the previous rise and we are looking at making a higher high.
If price closes above 11380 then 13448 (overlapping fib areas) well then we may see a double top at the All Time High.
Price action will ...
We predicted a bullish move from the Weekly 127% and support. Economic factors contributed to the strong rise in this pair after Tokyo closed. The RBA announced it will keep the cash rate the same 1.5%.
Price is now falling from the top of the channel. After a decline of 328pips in 14 days we can expect some retracement or mean reversion.
The daily chart may be ...
I trade the AUDUSD as the margin is low and this pair works well for intraday trading as it can yield 50-95 pips. It trends well so if you are a beginner or intermediate trader it's a good pair to start with.
Price has reached a monthly and weekly low and support from May 2017. We have a response from the Bulls and a nicely formed doji candle provides us with a ...
Rules of Engagement
Price is at a 200% extension of the previous swing on the Daily chart
A 1-2-3 pattern has formed on the 1hr or 4hr chart ie. A prior swing high has been taken out by price action confirming our entry.
Price at Daily support and order flow is forming a fractal. Sellers are taking profit and the Bulls are looking at an entry as price is ...
Rules of Engagement
Mean reversion - ie. Price will climb retrace to 50% of the last swing on the daily once support/resistance is proven. Expect this pair to be mixed and volatile.
Price did not make a higher high at 1.32687- if this level had have been taken out the trade would have been triggered for a long position.
Bespoke resistance is located at ...
GBPUSD - A position trade
GBP has been on a downward trend since it formed a double top Jan then April then unwound in a steep decline. The daily trend is short.
Price has reached 161.8% of the last fib before the decline indicated by the blue arrows.
The extension has been reached and yesterday price formed a doji.
This level is also a ...
Price opened high during the New Zealand open.
The following are two plans that I am waiting to unfold to take the trade.
1. Price breaks up and closes through the downward sloping resistance line in the wedge.
Then when the hourly candle retests this area I will take the trade long.
2. Price heads down to the bottom of the wedge to retest the lows and fulfil the ...
AUD has fallen for the past few weeks. Time for a reversal. After a pair has a long trend of several hundred pips I look for a point where price will stall or terminate. Counter trend trading is not for the faint hearted. However there is no other way to continually make profits if you cannot enter both ways short and long. It's all about waiting for the chart to ...
The GBP is renown for being difficult to trade. When I first started to trade we were warned against trading this pair until we were competent at trading the EURUSD. When the GBP trends it's a great way to bank the pips if you are on the right side of the trade.
Let's take a look at what's happened recently.
The weekly trend is LONG. The DAILY trend is SHORT. My ...
When I'm trading BTC against the USD or USDT I look at the USDCHF to gauge where the USD strength may start to weaken. The weekly and monthly USDCHF charts paints the picture. Price is at April 17 and Oct & November Orderflow levels of resistance. Maybe price is retesting here. Price has moved 700 pips with very little retracement during this year. If price breaks ...
In forex pairs are often inversely correlated. It pays to watch and wait for price to hit daily or weekly levels before trading a pair that is very oversold or bought. For instance the USDCHF is at a 161.8 extension level of the last corrective swing on the daily.
There has not been a reversal sign. The 4hr chart has fibbed during London's open yesterday. I am ...
Since the beginning of April 2008 Bitcoin has gained almost 27% after a major correction.
Most traders were expecting this correction due to the past years phenomenal rise in price.
In the brief history of Bitcoin’s genesis 2008, we have seen many negative events causing price volatility such as India’s recent ban on banks engaging in cryptos, ...