My previous AUDUSD analysis suggested the Aussie will create a bullish opportunity near 0.7 - An aggressive C entry (bullish) for a potential 3 Drives pattern that will compete near 0.74. Last week, $AUDUSD rallied 150 pips from the entry zone and reached first target level of the bullish setup - 0.715. This is a resistance zone that includes the following: -...
I've been asked a lot about trading during Holidays Season. There are several things you need to be aware of if you intend to trade during Holidays Season that starts this week: 1. Low liquidity - Market is thin as banks, funds, institutions and pro traders take time off 2. Unexpected moves and increased intra-day volatility. Aggressive price reaction to minor...
$AUDCHF slowly grinds its way higher towards 0.72-0.73 resistance zone. The price completed 2 harmonic patterns - AB=CD and Gartley/Bat (B point just below the 61.8 Fib level). It is also near the daily 200 SMA line and the top of a rising Wedge pattern. Whole of these technical reasons make the 0.72-0.73 a very interesting Sell Zone. The final target zone of...
Nice daily Pinbar on the close today. The Pinbar's high mark the top of the move and a level to place protective stop loss above. I've targeted the 38.2 Fib level as first target level.. obviously you can use smaller time frames for shorter term targets. Tomer, The MarketZone Follow me on TradingView Subscribe to my newsletters - goo.gl Follow my blog -...
The Biotech bubble bursting hits Nasdaq and makes it the weaker link in the indices chain. It all began when $IBB broke below 360$, closing below its Fast SMA line, providing the bearish signal by breaking down the weekly uptrend line (see point 1) August's declines lead $IBB to re-test another weekly uptrend line and the 300$ support zone - This created a rally...
$SPY's Gartley pattern mentioned in my previous analysis finally was triggered last week as investors were disappointed by Draghi's and Yellen's appearances. The price broke below the major support zone 204-206$ and closed below the 50 weeks MA again. The nearest support zone is 198-200$: 1. Structure zone 2. Uptrend line (trend line 2) 3. Psychological...
$XAUUSD reached last week to the sell zone I mentioned in my previous analysis (see linked idea). The first resistance zone was 1165-1180$ (red box). The price closed near the zone's top, just above the 200 days MA. In case that $XAUUSD will decline below 1170, below the 200 days MA, this could be a sell signal that can be used to short $XAUUSD with stop loss...
Will 2016 be the year of Oil and manage to recover some of the losses Crude suffered during the last two years? Since I've posted here this weekly Bat pattern in CL, the price rallied and reached target 1. It created a False Break inside the small structure zone that was created inside the PRZ and now about to re-test this zone again.. perhaps a Kiss Of Life...
Last Friday, when the Dollar rallied on NFP data, it violated the pattern I mentioned in my previous weekly analysis (blue pattern) Now, $DXY is inside the PRZ of another bearish Gartley pattern (red) with potential of reaching towards the 61.8 Fib level (monthly) and complete a bearish Crab pattern (extension of the previous Gartley). The two patterns create a...
1.52-1.53 is a weekly/daily resistance zone (includes two structure zones). The 3 SMA line act also as resistance lines. That zone could lead to a decline that will push $GBPUSD below the major support of 1.5 (or at least back to it). If $GBPUSD will decline below 1.5, it could continue lower to complete a bullish Bat near 1.47 Tomer, The MarketZone.net...
$EURUSD took another blow last week due to the Dollar's strength. As Draghi wasn't enough, Yellen and the NFP numbers delivered blow after blow to $EURUSD and pushed it below 1.08 for the first time since April 2015. This comes in addition to the trend line breakdown we saw just two weeks ago, following the ECB's press conference. The fact that $EURUSD is...
Bearish Butterfly pattern was confirmed last Friday as $FB declined below 107$. The 107$ and the Fast SMA line now act as resistance and a zone to place protective stop loss above. The first target zone for this setup is the 100$ zone, which is the top of the Rising Wedge pattern you see in the chart. Next target levels, if $FB will decline below 100$, are 95$...
$GS reached the psychological zone of 200$ again. A 61.8 Fib retracement since its October's low. The strong volume with the Gap up, suggests $GS won't stop at 200$ and may attempt to reach the next resistance zone - 205$. The critical structure zones are - 200$ (currently resistance), 205$ (resistance), 193$ (support), 188-190$ (support - Head & Shoulders...
Daily Pinbar on $GOOG near the 161.8 Fib extension level. Bearish Butterfly was violated, but a close below 720$ could create a False Break signals. R/R for bearish Pinbar scenario marked on chart Tomer, The MarketZone Follow me on TradingView Subscribe to my newsletters - goo.gl Follow my blog - goo.gl Subscribe to my Youtube channel - goo.gl
The Dollar's rally following the NFP numbers pushed $USDJPY all the way to complete the bearish pattern I mentioned in my previous analysis. Bullish scenario hits target - 220 pips since my entry. Now looking for smaller time frame reversals inside the PRZ to time bearish entry Tomer, The MarketZone Follow me on TradingView Subscribe to my newsletters -...
$USDJPY couldn't gain momentum, last week, to continue higher towards the PRZ of the bearish Gartley The price is back below the 200 SMA line and inside the top structure zone of the trading range it was trading inside during Sep-Oct The 120.5 zone is still support (changed role following the breakout) but the fact that the price is inside it, brings back the...
The downtrend line on $GBPUSD continues to hold and push the Cable down every time it tries to break it. 1.52 will bee the completion zone of a bullish Gartley right on the 1.52-1.525 support zone. Stop loss should be below X Potential move - Back towards downtrend line and 1.54. *Blue pattern will become relevant only if the price will decline below 1.5 ...
$AUDUSD failed to rally from the buy zone I mentioned in my previous analysis and decline below 0.715 till it met the uptrend line created by previous lows. Two bullish scenarios I'm monitoring towards next week (notice RBA rate decision): 1. A close above the 50 SMA line - The price will remain above the uptrend line and will turn the 50 days MA to support 2....