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,...
A potential short trade set up on EurNzd. Price has been sold of since reaching monthly resistance. Price action has retraced and pulled back into some key fib zones both on the weekly and daily time frame. We also have a key support now turned resistance area at 1.7125. I believe price to still have some downside momentum and can see this pair heading towards the...
Price has hit a key Daily resistance zone and been sold off. On the 4 hour chart as we can see, there was a break of the trend-line and retest to the daily pivot which lines up at fibonacci levels. Stop would be above R1 and target would be at S1/next support level.
A potential short opportunity on AudChf. Price has been sold off on the Daily time frame and hitting the next key support zone. What I will be looking for is some deceleration and slow down on the Daily chart along with the 4 hour. I would like to see a double bottom pattern form on the 4 hour chart for conformation of a reversal, along with a break and re-test of...
A short position on AUDCAD. Break of Neckline on Head and Shoulder's pattern and looking for price action to move to the downside.