A potential short trade Idea on UsdJpy.
-Daily sell off and retest back up to 110.000 area.
-Trend line break on 4 hour with some bearish divergence on RSI.
-Break and retest of the trend line should line up with Fibonacci key levels.
-If this happens price I could see price head back to 108.000 handle as first target.
-Daily Sell off
-Potential 4th touch of Daily trend line.
-Daily support zone at 1.1335 area which lines up with 4th touch
-4 hour falling wedge pattern
-Targeting 1.1400 handle
-Would need to see some deceleration on 1 hour time frame before looking to take the trade
Potential to short EurNzd
-Break down of Head and Shoulder pattern on the Daily.
-Retest of the neckline and also retest of long term daily trend line.
-On the 4 hour we could see a potential double top forming with a potential spike up to recent 4 hour high's and 1.69000 area.
-Would need some deceleration before looking to take this trade to the downside.
Short position on this pair.
-Price has been sold off on the weekly and daily time frames.
-Price action has pulled back to test previous support which now could potentially turn into resistance.
- Daily resistance lines up with 0.5 Fibonacci retracement.
- Downside target of 75.000 round number
- Will need to see some clear rejection of this area and before...
Gold sell off! Daily has stalled at weekly resistance. Price has been on a bullish run and in need of a pull back. Waiting for a 4 hour break of the trend line for confirmation to potentially go short. 1st Target is 1280. 2nd Target is 1265.
AudNzd. A long term uptrend has been broken on the weekly chart. Price has broken to the downside, retraced and retested the weekly trend line. Price closed as a shooting star on the weekly chart and also hit some key Fibonacci retracement zones. On the daily I would expect to see a push slightly higher to test the 1.0600 area once again before price potentially...
Looking at shorting opportunities on the Dow Jones.
Price has been sold from the very highs. Price has pulled back to 0.612 Fibonacci retracement zone. This also lines up with a retest of a long term uptrend and a support turned resistance zone. I would like to see price stall and decelerate around that area before looking to short this back down to the downside.
A short trade on CadJpy. Price has been sold of on Daily time frame and as we can see price has then retraced into the 0.5 Fibonacci area. This is also a key zone for the pair and is acting as good resistance. I can see the next downside target and price action around 80.000.
Price has been ranging within a 200/250 pip range since mid October. Price broke out of the key 1.1500 area which has acted as major resistance for a while. Price broke this 1.1500 zone with a very bullish candle, a retest has occurred of the zone and I see more upside potential with this pair. I would like to see the next upside target of 1.1600 in the short...
A potential short opportunity on ChfJpy. Price has formed a series of LL and LH since the sell off from 114.500 area. The sell of and recent retracement lines up with the 0.61 fib zone and also a potential third touch of the descending trend line.
I will need to wait for extra confirmation and confluences on the lower time frames for a trend reversal and...
GbpUsd could be heading to the 1.30 area. On the daily time frame price has broken out of the falling wedge pattern and re-tested the descending trend line. 1.2800 is a critical weekly area of support and resistance for the pair, which is where it looks like it is heading to. I believe if we where to break and close above 1.2800 handle on the daily time frame,...