I'm expecting this one to spike again to resistance area and then follow the route south to the bottom of the channel. Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)
Similar to AUDUSD, I'll be seeking for shorts in next week also for this pair. This time Fibonacci was drawn on line chart - I just didn't like to use that nasty spike to downside. It turned out that spike on candles chart corresponds to 1.618 extension. Who would thought. Red area seems good for short entries, depending on entry stop loss will be determined,...
Following movement of this pair from the recent past, I will be looking for longs here in the coming week. On daily chart below we can see how nicely it repeats its pattern - makes a high, retraces, consolidates in 0.236 and 0.786 area, breaks down to 1.272 to 1.618 extension area, touches the consolidation area again and drops to 2 (don't get confused with...
We have a saying that could be translated as "dragged by the hair" and this idea might fall into this category :) But I like symmetry and history repeating, especially if I can find them supported by numbers. "0 -> 1 -> 0.5 -> 1.272" can be interpreted as "pair did the full retrace, pulled back to 0.5 and then turn and visited 1.272". In the last week this last...
Area marked in red is the first area of interest for shorts. Anything above will just increase RR. Aiming for marked targets (or near). Stop loss will depend on entry, 0.76 seems the lowest one. Idea depends on opening on Sunday. Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)
I don't know that much about Elliot wave theory and not saying this idea follows it, but here I can see some elements of it - see 12h chart below. Concentrating on the last period (after the saga price movement between 111.75 and 112.10 in blue-gray rectangle), I can see ABCDE pattern in the last phase, which could end around 110.90 - at least here is my target...
This pair is descending last 10 days and seems like it will do another leg down of approximately 60 pips. Support areas are better seen on daily charts below. Pair retraced to 50% in the first two waves, on the last one it touched 62%, but always closed near 50%. I see two possible entries for shorts, marked in red. The higher one would be optimal, but question is...
Long term support and resistance areas are drawn based on weekly line chart below - note that this shows candle closes, so spikes can pass this borders (especially on 4h chart). Final target area is maybe more of a wish, depends how fast will price action go on. Area around 1.05 is also probable for next retrace up - it's near mid channel, at 50% retrace of the...
Hope this is not just an observation, but can be exploited for some profits. It's plotting similar pattern as through the whole February - box between 0.786 and 0.236 Fibonacci levels of previous wave. If it won't be violated too much, red area is place for shorts and green for profit taking. Let's patiently wait and act accordingly :) Disclaimer: this idea is...
If all will go well, we can get a cup of pips. Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)
Normally I'd wait for one more 1h candle before taking the trade, but risking 20 pips here. Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)
Next week I'll be fishing for shorts on this pair - literally, by using Fisher indicator on lower time frames for entries :) Potential bullish harmonics are plotting on weekly and daily, which show us possible targets. The first cloud of targets is around 0.939 for completing harmonic on daily, and the second one is around 0.925, which would complete weekly...
Upside down cup and handle could pour some pips. Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)
This pair is plotting nice box, which can be opportunity for kiss of death. For greater chance, I'd like to see something similar as in the beginning of March - break out with strong candle, "kangaroo tail" or whatever we can call it, and then again retest of box border. Stop loss would be set somewhere in the middle of the box - line chart can give more clues....
Like to switch to line chart from time to time. As shown below, I expect it to continue after this sharp bounce to that bolder white horizontal line (these lines are daily high/low wicks from the past). Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)
Just a quick one, for thrill :) Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)
Simple channel trade. It doesn't mean to sell as soon as it gets to red area, but to watch for short. It can of course also break above, so just monitor it at that level and short if conditions are OK. Final target is bottom of the channel with profit taking at the middle of it. Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will...
Bigger ABCD is still in play (linked idea), let's see how the smaller one will turn out. Besides TA, there is also bearish sentiment on this pair and price of oil has a potential to go down. Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)