The GBPJPY has been in a Rising Channel since October. Rising Channels tend to break to the downside. Today we finally got a break & Close out of the Channel on the 4hr Chart. This would be a longer term trade. Stop is 1 ATR above Breakdown Bar. Target is the measured move of the Channel (yellow line).
Nov 13 2015: BEARISH EURUSD 1H: Long term bearish channel (Analysis Based on 1 hour chart) Observations 1. Long term bearish channel 2. Two short term bullish channel 3. Bullish head and shoulder pattern 4. Price at weekly swing low NOTE: Wait for price action to confirm the importance of these levels. If you find this information useful. Please hit the LIKE button.
Nov 12 2015: BULLISH USDJPY 1 Hour: Buy flag pattern breakout (Analysis Based on 1 Hour chart) Observations 1. This pair has consolidated after a sharp up move NOTE: Wait for price action to confirm the importance of these levels. If you find this information useful. Please hit the LIKE button.
Nov 3 2015: BEARISH EURUSD 15 Min. Sell channel top. Buy support (Analysis Based on 15 min chart) Observations 1. Long term down channel 2. Short term down channel 3. Price at support 4. 15Min RSI oversold at swing low NOTE: Wait for price action to confirm the importance of these levels. If you find this information useful. Please hit the LIKE button.
Nov 2 2015: BEARISH EURUSD 15 Min. Gartley completion in kill zone (Analysis Based on 15 min chart) Observations 1. Long term down trend 2. Price at resistance 3. 15Min RSI overbought at swing high 4. Bearish gartley completing in kill zone NOTE: Wait for price action to confirm the importance of these levels. If you find this information useful. Please hit the...
BEARISH EURUSD 1H: Support becoming resistance. Bearish price action in kill zone. (Analysis Based on 1 hour chart) Observations 1. Long term down channel 2. Short term up channel being retested 3. Price at daily swing low 4. Overbought RSI at 1H swing high NOTE: Wait for price action to confirm the importance of these levels. NOTE: This is a counter trend...
Nov 2 2015: BULLISH EURUSD DAILY: Waiting on gartley to play out (Analysis Based on Daily charts) Criteria 1. Up trend on the Daily chart 2. Price at daily Support level 3. RSI hidden divergence 4. Gartley pattern terminating slightly below channel lows NOTE: Wait for price action to confirm the importance of these levels. If you find this information useful....
BULLISH price at support (Analysis Based on 4H and 1H charts) Criteria 1. Up trend on the 4H chart 2. At channel bottom 3. At weekly swing high 4. RSI was oversold at previous swing low NOTE: Wait for price action to confirm the importance of this level.
BUY GBPUSD at channel bottom (Analysis Based on 4H and 1H charts) Criteria 1. Up trend on the 4H chart 2. At channel bottom 3. At daily support level 4. RSI was oversold at channel bottom 5. Slight hidden divergence NOTE: Wait for price action to confirm the importance of this level.
The price of EURUSD finally broke the upper line of the Descending Triangle. I am expecting a drop, confirming the ascending channel, but the general direction on medium term is still up.
Read text written in the chart.
I predict that going short would be the best option for the next few days. Price has reached the resistance level at 1.1111 and the candlestick pattern at H4 suggests that the price will fall. Moreover, the ascending channel, which was tested multiple times since the end of July, might act as a pivot point for trend reversal if the price does reach 1.0888. The...
Hello Traders, After seeing FX:GBPUSD consolidate within a range for the past 30 days, we have gotten the emergence of 3 Simple Chart Patterns that could present us with good opportunities to LONG on this particular pair. I have color coded all 3 Chart Patterns in the chart above, just to make it visually easier for everyone. I will walk you guys through...
I’m looking at a rising wedge type of pattern forming here on the USDJPY that is working it’s way toward a pretty significant level of structure (look left). We typically see a breakout to the downside with this type of setup as it represents the market losing steam after a high volume move. I’ll be looking for short opportunities on this pair in the Live Trading...
The GBP/AUD pair has endured a powerful bear market since 2001, however, many correlating indicators are suggesting that we may be close approaching a confirmed pivotal change in the dominant trend. Our first major indicator was the cross of the 50/200 Exponential Moving Averages which occurred in January of 2014. The last time these indicators crossed...
Bounce on Tanta Pivot Channel 2, Pattern Bullish engulfing and bullish harami and hammer with volume, Major trend uptrend Above MA 50 and 200, Entry on Retracement
Whenever the chart shows a confluence (i.e. 2 or more) of technical indicators at about the same price zones, it is more likely to see a higher probability of a successful trade. For AUDUSD, i see a confluence of 2 technical buys. First, AUDUSD is trading within this green rising channel. This rising channel is a classic textbook pattern. Notice that AUDUSD very...
The inv. Head and Shoulder pattern plays well along with the rising channel which is very well defined. Last week PA managed to reach 1.47 but couldn't hold the 1.46. Expect more pressure towards 1.46 as Aussi net shorts increased last week to 30271 CFDs compared to 26486 the previous week.