Triple confluence of resistance on AUDUSD. Only sell if a lower low is made & the support is broken and retested; - 0.72000 psychological level - 800 SMA dynamic resistance - H&S Pattern
The recently made H&S pattern on UC and the fact that it may be at the end of a distribution phase may indicate the start of a downtrend/fall. I would wait for a break of the support before entering.
This is my view based on the market cycle structure on GCHF. I think if it follows the 15 EMA from underneath, we can get an early entry, but I think it would be better if we wait for it to pierce through the support and then ride it down.
Is the Crude Oil beginning to prepare for the markdown/decline phase? For this scenario, I think it would be better if we wait for a break and a retest of the actual support to confirm the downtrend.
According to my analysis and the market cycles theory, NZDCAD has just entered its markdown/decline phase. I think it would be better if we wait for the price to break the actual support, retest it, and then head straight downwards.
From my point of view, GBPAUD may be at the end of a distribution phase, having completed a H&S pattern. I see the beginning of the markdown phase just around the corner. The best scenario would be for it to make another lower low, breaking the support, retesting it, and then dumping the price.
This is my view (based on the market cycles) of AUDCHF.
50% fibo + 20&50 ema rejection, plus downward momentum, shorter ccorrections and longer impulses.
I don't usually trade patterns, but I have observed what is usually reffered to as a "descending triangle" so I'll just leave this here and see how it goes. Price action-wise, the previous high has been broken, so I am not sure what to say about the nature of this pair (if this is the end of the downtrend or not, etc.). Once again, I only want to see how this...
Natural Gas' downtrend impulses have been flattening recently, with a recent break above the 15 EMA and change in momentum signaling a possible change in trend. The psychological price of 2.600 has not been touched since March, so I believe it is a strong enough support to let the price bounce significantly.
USDJPY has been having a hard time breaking the 110.000 psychological level, leaving trails of wicks behind it. It arrived here with lots of bullish momentum, but I don't think it is going to break the level just yet. The most possible scenario I see is that we are going to enter a range, so that's why I set up that short position. Let's just wait and see.
AUDCAD keeps making lower lows and lower highs lately, so I believe the downtrend may continue for a while. It's also below the 15 EMA and it has retested the 50% fibo level, also barely touching the 0.9440 psychological level with 2 wicks.
CADJPY has recently made a lower low and is now retesting the 15 EMA and also the imaginary support trendline that can be easily observed. We could enter short right here, even though it's risky, or we could wait for it to make a lower high so that we can have more confidence that the downtrend momentum is actually trustworthy.
EURUSD's ranging nature has been keeping away its traders for some time now, and I would not recommend trading it, since the direction is not clear. I'm just placing a bias around to see how it behaves. I wish you all safe trading!
Is the previous move on EURGBP a correction of the downtrend or a trend reversal? From my point of view, it can only be a correction, since it just bounced from the previous major support at this exact same level. Time will tell.
15.7000 psychological level making bulls uneasy; this correction of the uptrend can be continued until the imaginary trendline, so it could be a short term trade. I do not consider it a long term because we have no sign that the uptrend is going to end.
Clear downtrend, rejection of the 61.8% fibo level and the previous resistance which had a couple of touches.