A friend asked me to create a setup that he could have on his phone and he could get alerts on potential trades. So this is what I came up with a slight modification of a system I have on my desktop. 5/21 Cross with a couple Friends! Setup: 1) 30min Chart Only 2) 5EMA and 21 EMA 2a) I added a ribbon to make it easier to see on a phone. 7,9,11,13,15,17,19...
on the AUDJPY I'm waiting for the breakout and confirmation of supply areas as highlighted on the weekly and daily charts. Again I'm using trend (which is down) to assume that the breakout of Price Action(PA) will be down. As we look to the downside we look to break a demand(support) area from 2009 as highlighted on the weekly chart. To find out more about my...
Ideally, cable could still rise up towards 1.3925 area before turning down. But a break below 1.3040 gives way to more downside movement.
Aussie did not reach 0.7700 area. Instead, price started to drop. A break of the lower boundary of its corrective channel, around 0.7485 is an indication that the pair already topped at 0.7675 last week.
Price made a decent 5 wave down which has already ended at 1.2795. Ideally, cable may temporarily rise towards its 61.8% retracement at 1.4165 area before downtrend resumes.
As long as euro price is contained inside its corrective channel, price might still push up towards 1.1225 area. But a break below 1.0910 may confirm that the trend is once again bearish.
USDMYR 3.9552 is a strong Daily Support, Let's see how market movement in this few days. Happy Trading Day !!!
following a break and close below a near term trend line A close below 0.97790 on the 4 hour chart could lead us down to 0.96800.
Don't lose out, don't try to get too clever. The direction right now is DOWN to fill the void of the recent spike. Will the UK stay or leave? Don't know, don't actually care. All that matters is that we monitor and FOLLOW the patterns of price. Should the UK remain hit the reverse upward trend as of tomorrow when the referendum is done. Should the UK leave keep...
Hello Traders, We have a potential BAT pattern If price can reach 1.4094. Today CPI Inflation figures came out less than expected at 0.3% which has helped pushed price down close to our level of entry. This area has confluence of support and trend line support. There seems to signs of indecision in this area too. If we can continue to put in higher lows this...
And yes, based on our last analysis, Crude Oil almost managed to touch the 48.00 area we are waiting. Price is already starting to rally, but a confirmation beyond 50 area must be seen first.
USDJPY was not able to break below 105.54. Instead, it created new highs for the past trading days. If price rally above 108 area, it suggests that bulls are in control once again.
We may still see cable move upside temporarily. But overall trend of GBPUSD is still down.