EURJPY short bias 1. Price beneath the Ichimoku cloud. 2. Red brick close beneath the 8/14 MAV. 3. More than 2 red bricks in succession. 4. ADX crossing. Entry @ 114.30-114.50 Stop @ 115.20 ( above cloud) Target @ 112.40 ( recent swing low , at demand zone) . 2.6 R
GBPJPY for potential retest of recent corrective triangle, at conservative fib retracement of current swing. Entry @ 128.54 - 129.40 ( 50-61.8 fib retrace) Stop @ 132.15 ( swing high) Target @ 121.40 ( 127 fib extension triangle a wave) . 2 R +.
AUDNZD possible completion of subwave 5 , resulting in bearish divergence. Look for potential Zig Zag correction of Wave 2. Entry now 1.0605 - 1.0610. Stop 1.0650 Target 1 @ 1.0470. The low of subwave 4. 2+ R. Target 2 @ 1.0390. Completion of Zig Zag and .618 retracement of Wave 1. 4+ R.
AUDNZD in a B wave corrective phase. Price may move ( in 3 waves ) up towards 1. 200 period MA @ 1.10. 2. d point @ 1.12.
EURUSD has been in consolidation since March 2015 in a complex corrective 4th wave. The medium term outlook is for a break to the downside of a recent triangle, with a potential target of 1.07.
Gold has reversed at 1337.28 and now has formed 3 red bricks, which have passed beneath the 8 EMA. A short position could be considered from here , in line with the longer term logic. Stop loss would be above the 8 EMA.
US Oil in corrective phase. 2 short possibilities from here 1. Flat Correction - for b @ 52.00 , with target of C at 42.00 first target and 36.5 second target. or 2. Zig - Zag - if recent supply zone at 49.00 holding, with target C at equal legs projection of 36.50.
EURUSD 60 min @ ABC correction. Possible scalp trade on breakout of trendline support , with Entry/Stop Loss / Target on chart.
GBPUSD corrective ABC pattern. Entry, Stop loss and target on chart.
AUDUSD on 60 min chart potential corrective pattern abc setting up. MACD bearish divergence suggests recent top was wave 5. Looking for a wave to stop at prior wave 4. From there a b wave to 61.8 - 78.6 fib retracement. From here potential short trade Enter short @ .7670 - .7885 Stop loss above start of a wave @ .7710 Target c, with 1.27 fib...
NZDUSD about to complete a combination corrective structure ( double three = zigzag (w) + flat (x) + triangle (y) ) . The 4th wave should not enter into the price zone of wave 1, so price must stay below .7660 for this idea to be valid. The short entry is following breakout of the triangle to the downside and retesting of the trendline. The target will be...
AUDJPY with potential triangle. 2 Entry Points 1. At E - with stop loss above C. ( More risk as the breakout could occur to upside , as shown in prior post for this pair) 2. Retest of trendline following downside breakout. Stop Loss above E. ( Maybe a better entry point) Target 1 @ .7590 ( equal legs projection of CD ) . Target 2 @ 74.80 ( important...
AUDUSD possible consolidation .74 - .77 in a double top or 3 drives ( as illustrated). If Point C of potential Gartley can hold ( .7760) , we would be looking for a short setup close to the supply zone. The short trade would follow the entry and exit rules for trend following with HA candle , listed by Dale _ Ansel . Stop Loss @ .7840 above X. Potential...
USDCAD with potential bearish cypher. PRZ between 1.3383 and 1.3472. Confirmation of short with at least 1 red renko brick. Short @ 1.3395. Stop Loss @ 1.3475. Target @ 132.11 ( X) . 2.3 R.
My present bias is for a long position in the SPX 1. Price is above the Kumo , favouring a long trade. 2. More than 2 long renko bricks have formed since recent correction. 3. Renko brick has broken above the Tanken-Sen. 4. RSI above 50 ( but not oversold) Barrier = Nearby resistance at 2173.5 Suggested trade Entry @ 2164. Stop Loss @ 2130 ( beneath...
USDJPY Medium term logic for this pair is a Crab Pattern. Hurdles to overcome ( if price stays above A ) 1. Trendline resistance and Kumo @ 102.00 - 102.50 2. Recent Swing High (B) @ 103.75 3. Pattern Swing High (X) @ 106.75
Possible medium term scenario of British Pound breaking the wedge consolidation to downside , targeting 120 - 121.