I would first like to preface that this analysis is simply for educational purposes and does not constitute a signal. With this idea, I would like to touch on the topic of confluences. When performing technical analysis on pairs in the forex market, it's great practice to study confluences in the market. What are confluences? Confluences are levels in the market...
Refer to my USD/TRY idea linked to this idea. When I trade one pair, I also like to study the market structure of correlating pairs. USD/TRY and EUR/TRY correlating pairs. In my high level analysis we see that both pairs experienced the nicest nice bounce off the 61.8 fib level and would have been a perfect entry point, as we can see price action was swift to...
Price respected trend line, and reached oversold territory. Impulsive move to the downside has happened. Expecting pullback before price drop to 50% or 61.8% fib level. Trade at your own risk.
I've been in this trade since mid-November (see trade idea below that's linked). I've snagged close to 1,000 pips on the sell. It appears that price is attempting to reverse. Price is flirting at a key level in the market 50% fib level and breaching a descending wedge. Looking for price to pull back at least 50% before continuing back down. Trade at your own risk.
Retrace to major fib level before continuation to previous high. If dollar strengthens, we can look for gold to fall. For demonstration and educational purposes. Trade at own risk.
USD/MXN. The rate increase by The Bank of Mexico last week was great for this pair, and the peso regained strength. If the DXY continues to fall we can hope to see this move. You won’t want to miss this one. 1400 plus pips possible over the entire swing trade. Trade at your own risk and be sure to use proper risk management.
With this pair I see increasing bearish sentiment in the market and a potential descending wedge formation, afterwhich a possible bull run based on market structure. Price attempted to break structure but the bears were standing by ready! This idea would mean price would respect a few key areas in the market (61.8% fib level as noted), as well as trendlines on...
XAUUSD price is being contained within an ascending channel . Current price has reached 50% fib level from previous swing high. Looking for slight pullback and continuation to 61.8% fib level. Must observe DXY to which this pair is inversely correlated. Trade at your own risk.
CHF/ZAR Update If you followed the trade idea I posted on my TradingView on 11-20-18 (), we see how we have progressed. As charted, we hit TP. Hopefully you took your profits as noted on December 4, 2018. The reversal did occur as expected and we saw a series of impulsive moves and corrections (see current flag). Be sure your profits are protected. Although I...
Please see my previous analysis on this pair. If you followed this idea, hopefully you protected your profits along the way before price reversed close to the retest of the trendline. As with any trade idea, we have to watch what the market is telling us and follow suit. We can see clearly how price is respecting trendlines on a larger time frame (highlighted in...
This idea is purely for educational purposes. As I study I see what could be a possible triangle pattern forming. If this is so, a breakout would be expected to occur to the upside using the distance application from the last major support. From a fundamental standpoint, the rand could deteriorate based on fiscal and monetary policy in South Africa. The continent...
Price approaching key level in the market. Given current price action (recent bearish impulse and correction in process), looking for at least one more push to the upside before sell off. Price also contained within channel. Trade at your own risk. This is not a signal. TP1: .87023 TP2: .83235
Long legged dogi on weekly time frame indicates trend reversal; price is also being contained within a pennant. Expect price to reach at least 1.09 based upon 50% fib retracement. Trade at your own risk.
Price for USD/ZAR is forming a possible descending wedge. I am looking for price to pull back to the trend line, following recent bearish price action last week. The first take profit area has 3 different points of confluences, using Fibonacci at various swing points. The second take profit target is also a possibility. Price action would need to be observed to...
Price is forming a descending wedge. Anticipate pull back to the 61.8% fib level, after which bullish price reversal. This trade is for educational and demonstration purposes only. Trade at your own risk.
NZD/CAD hit 61.8% fib level with an inside bar candlestick (see highlighted/circled). An inside bar candlestick is known to signals reversals in the market. Price is also being contained in a descending channel. Be on the lookout for NZD news this week. Trade at your own risk.
Bank increase of rates would cause the peso to strengthen against the dollar. Price is also flirting around a key level for this pair. Possible head and shoulders. For educational and demonstration purposes only.
Spinning top appears at the end of sell rally; price appears to be bouncing off 78.6% fib level. Watching for next candle closure for a potential buy opportunity. For now, patience is key; watch.