Update: Looking at possible double top pattern forming on the 4hr chart for GJ price target is right at the previous swing low (also in a support box for me). definitely a possible trade, it's not miles away from current price and RSI looks like it is failing to hold support on that red line. keep in mind there is still a couple hours left on this 4 hr candle...
Update: Looking at several things here, many confluences and a big move coming. obviously bug news coming out today but I just want to share what I see here and the potential move here. so firstly we are forming an ascending triangle here, which is biased towards the upside, the grey box we are currently in has proved to be resistance/support several times and...
Update: current trades aiming for this green resistance boxout you can see price has literally touched it and no more previously so if we see a break into this box I expect a nice push to the upside. entered this trade this morning after a break of horizontal resistance we seen a push up and retest before moving to the upside, really nice trade, around 25 pips...
Update from previous idea: not had a great time lately in ETH and by the looks of things I don't think the dump is over. so I think all we need to look at is a fib retracement and strong levels of support and resistance. a very important level of a fib is the 0.79 because that is the last level to hold before you can pretty safely say the trend has reversed. so...
Update: was actually looking for a long yesterday but price has continued to show a bearish bias, making lower lows and lower highs. we also have seen a break down of crucial support (purple and grey line). seeing this push to the downside my next move would be to wait for a bearish retest and look for a short down to any of my lower targets, we have seen a...
Looking at USDJPY pair and it looks interesting to me I think there is several things that can happen with this pair and I think a big move is forming. I think we are hitting a level of support here on this grey line but we also have resistance on this yellow line just above so we are trapped in a zone. looking at the previous weeks price action we fell out of a...
Would just like to outline the potential pattern that is playing out GJ here, looks really nice obviously dependant on news etc but could be seeing a W formation playing out on the 4hr candles which would mean a huge move incoming for the pair. couple of things I want to mention, the first being we basically hit all of my downside targets. that I mentioned last...
Update from previous idea: Still working our way down to my technical target we did see a drop in price and further continuation down but we are slowly facing more support, which is good. I just don't want people being fooled into thinking this is the bottom. its like we are making a constant ABC correction if you don't know what that is go on babaypips and...
Update: not looking good just thought I'd update because I've spotted an M pattern or double top on the 1/4hr chart, target is at the green vertical line (2979). this isn't great, a short could be lovely here looking for a retest of the line so seeing this initial move down is the beginning and then we should see a bearish retest of the green neckline. looking...
Looking at the DXY here for Monday's open and a is said in my last post it looks exhausted. I am ideally looking for a double top here but I think a test of this yellow line, there is so much liquidity there it would make tons of sense. I would love to see it get taken out straight away just to see a bearish week ahead for dollar pairs because there will be some...
Looking at the EURUSD here just before Monday's open. couple of things I'm looking at to grab a quick 30 pips at the open, this is a very risky play because I do think the bias is bullish for the euro against the dollar based on the DXY. but the DXY in my opinion is looking for a slight retrace back up before more bearish continuation down. so it is dependent on...
Update from previous idea: It has been a while since the last update and I am going to be doing eth analysis again everyday. been distracted with forex but I can still find the time to analyse eth I still look at it daily just have stopped trading the past few weeks. anyways, we have flipped this thick yellow line as support which is really good to see, however...
GJ has had a crazy day today I had it charted out nicely but I missed the move unfortunately. now it needs to be decided the most likely scenario to play out next. there are several things to consider here when looking at this chart firstly, we have been in a strong uptrend in price the previous week 2-3 weeks and for the first time since then price has failed...
Looking at a possible move here for USDJPY, couple things to take into consideration for this move. so we have dropped below a 'bullish formation' (falling wedge). taking a short is definitely a risky move due to the fact the optimal entry here is back within the formation so ideally looking for a takeout move back in before seeing a big drop back down signalling...
Update from previous idea: if you look at my analysis posted on Saturday I done a Monday prep chart. I was favouring the downside on USDCAD, I had 2 areas mapped out, one was basically right on the open and the other was incase price were to see a rise at the open before an even bigger drop throughout the day. so far we have seen a slight wick above the box but...
I hope you can read these notes. I am working currently on determining the bias and when the price starts to shift from bullish to bearish. watching this move play out. price created a breakout formation the target of the breakout was of course above the previous high. on the way back down you can see price formed this area of resistance so that was highlighted...
Update from previous idea: we have seen a continued drop I have switched charts again because there is several things I want to bring to light. I think we are in the middle of a large reversal pattern so I have highlighted in the grey line a possible W pattern that could form on the larger timeframes. or possibly and probably more likely an inverse head and...
I am looking at these 2 zones to take a short from, I think a lovely short entry was beginning to form for the pair just before trading finished on Friday night. that could also ruin the trade because there will be many more factors effecting this pair come Monday. if we break higher I am looking at the slightly larger green box to take a larger short position....