Short term long - price has been oscillating between S1 and R1 of the weekly pivot. Presently price is at S1, which I am hoping will continue to support price allowing price to move up to R1. Price is also below the daily trend and will be below the weekly trend - at this point pound remains a short. Short term pattern appears to be building a bear flag. If price...
Short term long. Price presently below all trends and pivots. Euro is trading close to top of this weeks pivot point - in doing so it will be by default thrown above the next weekly pivot point - basically creating a hole to slide up. If it can maintain this price range close to top of pivot at closing then I would expect a challenge on the up coming weekly pivot...
I do not usually start with the larger picture first, however this is unusual. When something is out of the ordinary expected in structure the best is to wait and see which way it will break. The smaller descending triangle is out of place in the larger descending triangle - we are expecting 5 sets of 3 waves - or could this be a very messy running flat where this...
This is a continuation chart from last published - Kiwi is above the 8 hr trend but with the new daily pivot, price will again find itself below the daily trend - Kiwi remains long as long as above the 8 hr trend - targets are the daily trend and weekly pivot. Pivot trend lines differ from traditional trend lines as they are adjusted with each new pivot point -...
Short term long to daily trend line - if price can successfully close above the daily then would expect challenge on daily pivot - Pivot trend lines are dynamic like price and change with each new pivot point - the long position holds as long as price does not close below the 4 hr pivot trend - if it does then a short position approach is taken
Price at daily pivot trend line - looking for rejection of daily trend - if price closes above then the target will be R1. As long as price is below the daily trend UsdJpy remains short - close above long. The 4hr trend line confirms price is trading short term long to daily trend. A close below the 4hr trend will confirm short play remains intact.
USoil has broken above the weekly pivot past two weeks, but unable to hold above. However the fact it got above says a lot about the strength of price we are seeing and worth a watch. Price came off of demand zone and has continued to rise - no guarantees this area will hold coming back down. Lots of traffic in front of price - 12hr trend and pivot weekly pivot...
Kiwi is trading below the daily pivot and just below daily trend, also below 8hr trend and pivot point. Price bounced away from weekly trend once and appears to be coming back down to challenge if again. The projected daily pivot will be lower and price is presently trading below that. I will start the chart as a short looking for price to cross the weekly trend...
Yen crossed above the 4hr trend line today. Looking for price to maintain above the trend line. Preferably bouncing off of the 4 hr pivot and making new highs to R1 - R3. First target is to get above the daily trend line or at least challenge it. A close below the trend line would end long trade.
Swiss is below the 8 hr pivot point and pivotal trend line. Also below the daily trend line. I put a projected 8 hr pivot on the chart to see where price is sitting - until price closes above the upper trend line it is a short. The red lines are clones of the trend line above, drag them down and place them on key areas of support for targets