Cable has recently fallen out of trend with a strong bearish candle. On the 1 hour timeframe price is forming a continuation pattern and I am looking to get involved on the hover . On the contrary, I have been bullish on the US Dollar for almost a month now and we can finally see the DXY pushing higher, rejecting a key monthly structure. There are many...
This CHFJ on the 4 hour time frame. Currently we are trading within an ascending channel, as we have been for the past 30+ days. In the upcoming week we could see short setups arise. I am looking to see whether price confirms its move by forming a continuation pattern which I would then enter on the break or from the top, defending on the nature of the structure...
This is NCHF on the 4 hour. We could be seeing a reversal on this pair. Using parallel lines (which this pair tends to respond well to) we can make a case for NCHF being in a key value area. Before jumping in, we will need to wait for the market to give us clear confirmation. I would be looking to get involved at a clear rejection from the 4 hour, or if we see a...
Similar to CJ, CADCHF has been trading within a very corrective structure for just over a month. On Friday we saw this pair close its weekly candle below this lower time frame ascending structure. To get involved, I would be looking for some sort of continuation pattern and I would be targeting the bottom of the expanding, or the double bottom area at 0.67450.
CJ has been trading correctively for just over a month now. We have seen price break the expanding to the upside through an ascending channel. I would be looking to get involved at the break, targeting the double bottom area at 77.620 or even further, to the bottom of the structure.
Oil is trading within an ascending channel and if we zoom in we can spot an expanding pattern. If we see a break of the expanding, we could see a nice rally to the top of the channel and potentially higher.
Ripple has rejected a high value area and has the potential to head lower to recent lows. Longer term I am still bullish on ripple, but there is a possibility this is just a retracement before following the higher time frame forecast.
Price in in an ascending channel making higher highs and higher lows. With the channel, we are forming a middle section which is a smaller descending channel. Price is getting closer to the bigger channel bottom and from their I will be looking for a rejection to take this to the upside.
Right now you could say the S&P is at a make-it-or-break-it level. There a multiple confluence which make my bias short (for the shorter term), factors including the double top, the third touch of the ascending channel top, and the lack of momentum to the upside (as of yet).
Price is looking like it will continue the move to the downside. On the lower time frames, a correction is forming which adds confluence for the continuation. Of course there is a possibility we hold this channel bottom and head back up to the channel top but the market will give us confirmations in order to take advantage.
There is a possibility for price to move either way here but thinking in probabilities, the nature of this channel leads to me be bullish. If price breaks to the downside then price would just form a continuation to the continue to the downside.If we see a clear rejection we could see buy opportunities, the first target being the top of this structure.