robertdewick

robertdewick

I have my suspicions about this being a great & retest, as why we haven't seen a continuation to the downside but merely some sideways action. Looking left, we see an area of supply on the H4 which failed to drive price lower, furthering my suspicions of a bear trap and a potential move higher.

robertdewick

Right now it look's like we're trying to trade higher into the 20/50EMA wave, based on price action as it currently stands. There's too much conflicting information on all timeframes for me to build a thesis for an entry into the market. I'm not confident that a break above the 50EMA on the daily will confirm anything either. Looking left we can see this...

robertdewick

Zooming into the weekly this looks to be painting a different picture. Underneath the surface of the Monthly structure and most recent candle formation, it would appear there's conflicting information. There may be a new trend forming, but we're a long way off confirmation for that to be considered in our analysis at this stage. Looking into the structure of...

robertdewick

Starting from the Monthly trend, which has been bearish since May 2014, you can see we've been making lower lows and lower highs. In April 2017 we saw a breakout from 6 months worth of consolidation, coming back to retest the zone in June before making its' way higher forming a lower high at the 50EMA. Was this a correction or the start of a new trend? Could it...

robertdewick Updated 

On the chart peeps

robertdewick

Break & retest on the Daily? Bulls need to step in now, orders are set.

robertdewick Updated 

All notes needed on chart

robertdewick Updated 

Looks like we may be forming a reversal on DXY index. USDJPY has already indicated strength in the dollar.

robertdewick

A follow on from my previous prediction.

robertdewick

I've drawn on the chart the confluences I can see at a quick study. As you can see, there's plenty pointing towards the 92.000 zone. Price action will now prove this theory right or wrong.

robertdewick

Looking at the Weekly Chart, we can see we're seeing higher highs and higher lows. I am anticipating another leg up into the 92.000 zone. We saw a corrective double bottom on the previous leg (B-C leg), which has created a nice area of support. I'll break down the Daily Chart next and look for confluences.

robertdewick

Notes on the chart

robertdewick

Notes on chart

robertdewick

Something like this I reckon?

robertdewick

Notes on the chart

robertdewick

I'm always wary of picking tops on AUDCAD.

robertdewick

Notes on the chart

robertdewick

Looking for a pullback into structure for a sell order.