Bullish Cypher Criteria
The B point retracement: 0.382 and 0.618 of XA,
The C point retracement: 1.272 to 1.414 of XA,
The D point retracement: 0.786 of XC
Overview & Summary
TP 1: 1.14239 based on 0.618 fibonacci retracement ( Short Term Target)
Risk to Reward 1:2
Support at 1.1300 (from 15 Aug 2018 - 1 Nov 2018)
Appears to be a channel between 1.13 ...
FX:AUDUSD Awaiting Correctional Wave ABC
Potential correction on Elliott Wave
Rules for Elliot Wave
Wave 3 can never be the shortest impulse wave
Wave 2 can never go beyond the start of Wave 1
Wave 4 can never cross in the same price area as Wave 1
Support Level: 0.7750
Stop Loss: 0.7740
Risk to Reward: 1:5
FX:EURUSD Cup and Handle?
Potential Long as cup and handle begins to form on the EUR/USD
Awaiting confirmation on the handle to confirm the 38.2% retracement levels.
Risk to reward ratio 1:4
Entry: 1.20, Stop Loss: 1.19 Target Profit: 1.23
Note if the handle breaks 38.2% retracement then the trade is invalidated.
Near Term Setup - LONG USDJPY
Expected reversal from 108.709 to 111.015
Entry:108.287 (based on April Support levels)
Stop Loss: 108.709
Target Profit: 111.015
Expected Time frame for trade is 3 days
Note: Reversal has not been confirmed as signal line has not crossed over as yet.
Entry 1: 109.0, Stop Loss 1: 108.75, Target 1: 114.4, Risk to Reward Ratio: 1:19.4
Entry 2: 108.3, Stop Loss 2: 108.00, Target 2: 114.4, Risk to Reward Ratio: 1:28.33
Trade cautiously and await for confirmation of entry signals
Consider the horizontal channel which repeats itself over a 1- 1.5 Month Period
Support levels at 109 & 108.35
EUR/USD Near Term Setup for a Short
Price will retest resistance levels from September 2015 upon reaching 2 year highs
If the currency pair continues the pattern shown in the horizontal channel it is likely that it'll fall
Moving average cross over has not confirmed a chance in trend direction as yet. Entry should be made once this is confirmed.
Resistance Level Target: 114.46
Support Levels: 110. 520, 110.107, 108.913, 108.157
Target Entry (Long): 108.913 to 108.157 (check for price signalling of reversal before entry)
Target Entry (Take Profit): 114.46
There appears to be a horizontal channel which has formed from March 2017 up until now between 114.464 and 108.156.
The price ...
AUD/USD likely to retract.
Simple Moving Average (7 days) and Long Term Moving Average (28 days) on a 4 hour interval chart are approaching a cross over indicating a change in market direction
Relative strength indexes indicated the pair had previously had been overbought on a 4 hour interval chart and remains overbought on a 1 day interval chart at 73.84% on ...