we've achieved a 3 wave uptrend that began from the first of October. now we are yet once again in an overbought position and any new longs should be taken with precaution if not avoided altogether. I believe for this upcoming week we will see a dip in AUDUSD or probably a new downtrend.
After 2 waves up we are now oversold and audusd is now showing signs of weakness I believe we will have a retracement this following week to at least the moving averages before reversing entirely or going for one more leg up.
After having a bullish rally that lasted for half of september we retraced downwards all the way to 0.71 Fib level. I believe we will have yet another bullish rally this upcoming month. what i would like to see is momentum and a break above 0.6777 to confirm a new bullish trend
It appears we've reached a peak level on EurNzd that we failed to break on 2 previous attempts. currently have RSI divergence i project to fall at a minimum to the moving average projection (dotted white line)
We're currently having a wedge pattern on usdjpy, as well as the bundling of the long and short term moving averages. bias is for a push up but not ruling out the possibility of a push down back into the demand zone.
looking at the pattern that recently formed on WTICOUSD I believe we will be correcting upwards for at least $57,44. This isn't much as a trade set up but a hint of what's to come with correlating pairs, such as USDCAD.
I saw a chart of someone going long on this pair, of course, this isn't a blind copy paste, I identified my own patterns and entry reasons. I'm looking for a complete reversal of the trend that began in early may to at least 50% of the original trend.
set up: identified pattern after the 2-month trend and now crossing above the 200 EMA
After the strong impulse up and hitting a major weekly support level, it MAY be time for a reversal. once price confirms the new trend (short term / long term) i will be in.
TP.1 - 2:1
I will place a protective stop when price hits the 50% fib lvl.
short after sharp impulse up.
This chart was brought to my attention via a post on facebook, and generally speaking, I don't trade from what I see others post, however, I recognized my trade set up forming so I chose to enter.
second push down
After a bull run that lasted 2 months, now may be the time for a correction or a reversal. although I am having conflicting thoughts about this trade. if price goes in my projected direction that would mean a strengthening of the Pound over the Euro which I don't see likely amits this whole Brexit situation.
Would be interesting to see how this plays out for the...