The GBPNZD 50% retracement from the last major move appears to be holding. Indicators are suggesting oversold values and weakening bullish pressure. The red rectangle is the projection based on the 50% retracement.
A pending sell order has been place a few pips below today's low at 1.748. SL is safely above the ...
CHFJPY has made an impressive move to reach the 113 level in a short period. However, this pair is due for a correction.
With price rejecting this resistance level and bullish pressure easing over the last couple days, this is likely to be the start of a good sized correction/retracement before price continues ...
The price for EURGBP has retraced to the 50% level of the upward move starting late May. This could set up to be a great risk reward opportunity. With the rejection of this key Fibonacci level and a trend line break for this retrace, I will wait one more day before making an entry decision.
The criteria for a buy ...
After testing the lower bound of this descending triangle, AUDNZD appears to have made a jump lower. A pending sell order is set at 1.038 to catch this bearish breakout. This price point was selected in consideration for the 1.04 psychological support level. However, this is still a bit of a risky entry as the ...
The overall down trend appears to be holding for GBPCAD. Furthermore, the beginnings of a possible bullish bat pattern are taking shape. However, the current BC retracement is a little short at this point. Nevertheless, the pattern appears to be in proportion and a sell setup is likely before the end of the week or ...
A bullish pinbar is forming on the 1 hour chart at a strong support level. If this candle keeps a proper pinbar formation and price breaks the high, the trade will be triggered.
Entry: Pinbar high + 1 pip
SL: Pinbar low - 1 pip
1st TP: ~.9495
GU is setting up for a potentially large move down. To confirm the entry, chenkou span must must clear the kumo cloud 26 period to the left. SL should be placed just above the bottom of the cloud and the 1st profit target is at the next closest support level.
NOTE: this trade may need to be placed when markets ...
A nice setup took shape on GBPUSD. With a double top as confirmation this trade is opened. Initial profit target is the median line of the blue pitchfork and a SL that provides a 1:1 RR. Here's hoping this trade will make up for the couple of setback from the end of last week.
This level seems to be holding as the swing low. As usual, profit targets are the major lines of the pitchforks and SL will be trailed as targets are reached.
Note: The bright green line is a trend line that is still showing some support/resistance. This may limit the position's profitability.
Price dropped a bit lower before the candle closed but the trade is still valid once the pitchforks were adjusted.
Profit targets are the at each fork on the pitchforks and SL is trailed each time a target is reached.
A high probability long trade opportunity may arise if the close of this 1 hour candle lands near the lower red and blue lines from the pitchforks. Initial target will be the median line of the blue pitchfork.
UJ found resistance at the 0.88 D leg of a bearish Bat pattern on the 1 hour chart. With the break of the trend line associated with the recent up move and the MACD/Stochastic crossovers, this could result in a nice retracement.
TP1: 113.277 (.382 retracement)
TP2: 112.395 (.618 retracement)