Aussie trading in a consolidating triangle. Consider a short with a favourable risk reward ratio of 5.
Enter at 200 MAV.
Stop above the monthly pivot.
Target the origin of the triangle consolidation. ...)
Wait for retracement to horizontal resistance.
Then entry short at .7470
Target the monthly S2 Pivot at .7340 ( reward 130 pips)
Stop just above the 50 MA at .7515 ( risking 45 pips)
Risk Reward close to 3..... :)
Possible intraday Wave Count - could this be a minor wave 4 retracement.
Price has moved away from the $ 1300 level , and may move towards the Monthly Pivot ( and the .5- .618 wave 3 retracement, with 200 MAV) .
Then watch for the downtrend to resume with a wave 5 , for a price target at Monthly S1 ( and medium term channel support).
This should be mirrored in...
The Euro has been in a decade long descending triangle. In March 2015 price touched the supporting trendline at 1.0450 and struggled to move away in the next 2 years before moving up steadily to test the resistance trendline at 1.2550. Price moved sideways for a number of weeks, before moving down in the recent week to test the 50 MAV and Monthly Pivot...
Post GFC has seen the S&P 500 more than quadruple in value.
Price had moved up steadily to touch,cross and retest the 200W MAV over 2010/2011. The moving averages 50/200 have been steadily rising in a golden relationship ever since.
Price has only tested the 200 W MAV in Feb 2016.
For the current year the S&P 500 is travelling sideways, not breaching the...
The Euro on an intraday basis is coiling within a significant Mother Bar.
There is significant horizontal resistance between 1.1930 ( horizontal support) and 1.1950 ( Monthly S1 Pivot) . Price is stalling just above this region.
The recent trend in Euro has been down.
A clear break of the Mother candle to downside , may trigger price movement to next...
Pound Yen in recent retracement of prior upswing.
Looking for a trend continuation to downside targeting fib levels
Entry - closer to the significant horizontal resistance at 150.65
Stop 1 - above current 50 MA
Stop 2 - near the prior swing point.
Target 1 = fib .618 ( near the Monthly Pivot point)
Target 2 = fib .786 ( Close to the supporting...
Suggested Wave pattern for USDJPY , which is carving out a corrective major C wave channel structure.
Within this consolidation , price could be making a minor d wave that could complete near the 200W MAV $112.80.
Momentum ( stochastics) is suggestive price will move further to the upside.
Consider a long position , on intraday retracements , targeting the...
Euro momentum is to the downside. Price volume has increased steadily and the current candle shows little movement lower.
Possible retracement may see an entry for a short scalp for euro as follows
1. Enter between the 13 EMA and the Monthly PIvot.
2. Stop above the 50 MA
3. Target the Monthly S1
Risk Reward = 2.....:)