TECHNICALS: 1. - Price has been tracking a descending trend-line within a strong bearish trend since 14/06/2018 - This line has acted as strong resistance with price bouncing multiple times - However price may finally be about to break-out bullish as strong support has been found around the 15.75 region 2. - Bullish RSI divergence can be seen - The price within...
TECHNICALS: Price may be forming either: DOUBLE BOTTOM: - Two bottoms can be seen very close to each other on lower time-frames such as the 4h chart - Neckline resistance is found at 16.0 ( Psychological level ) - This level would need to be broken to confirm this bullish reversal pattern TRIPLE BOTTOM: - Three bottoms can be seen on the 4h chart however they...
**This analysis links with my idea published on Jul 13th here: TECHNICALS: 1. - Price has formed a double bottom bullish reversal pattern off the 3Yr trend-line as well as the 1240 Pyschological level - Neckline is found @ 1266.22 - This level would need to be broken to confirm the bullish reversal 2. - The second bottom of the pattern broke below both the...
TECHNICALS: 1. - Price broke through a long term ascending trend-line (19/01/2016 - 03/04/2018) - Looking for price to retest this trend-line as a buy signal has now presented itself 2. - 0.7400 Pyschological level has acted as a key level of Support/Resistance in the past - This level has now been retested 3 times on the daily chart, each time breaking below,...
*This is the last chance for gold I believe, if this trend-line were to be broken alot more bearish action could come so MAKE SURE TO SET SL'S and USE RISK MANAGEMENT. TECHNICALS: 1. - Gold -0.57% has been forming a possible Ascending Triangle pattern on the weekly chart since December 2015 - Price is now touching the ascending trend-line of the pattern for...
TECHNICALS: 1. - Price has formed a double top on higher time-frames - Neckline @ 0.88 (Psychological level) - This level would need to be broken to confirm this bearish reversal pattern 2. - After the 2nd top formed price has been consolidating within a descending triangle pattern - Well known bearish pattern - The lower trend-line support of the pattern is @...
TECHNICAL: 1. - Price is approaching the upper trend-line of a descending channel 2. - This level coincides with the 78.6 fib retracement of the bearish move from 05/03/2018 - 23/03/2018 3. -This level has also acted as strong resistance/support in the past FUNDAMENTALS: - A lot of geopolitical tensions at the moment are proving very negative for USD...
TECHNICALS: 1. - Price may be forming an Equidistant Ascending Channel - Price has bounced off the upper trend-line twice now, and the lower trend-line once - However price is finding support at the lower trend-line once again and may be setting up for a bounce to the upper again 3. - 61.8 Fib level of the bullish reversal move from 03/07/2018 -...
**This is an update to my original idea published on July 6th TECHNICALS: 1. - Possible bull flag pattern forming on hourly charts - Continuation pattern - Previous bullish breakout of descending channel gives bullish bias to the pattern 2. - 1260 and 1250 Psychological levels acting as a resistance/support zone the possible Bull Flag pattern is...
**This is an update to my original idea published on July 6th TECHNICALS: 1. - Price was forming a H + S Bearish reversal pattern - Price broke through neckline support of the pattern to confirm - Price is now re-testing the neckline (now acting as resistance) - Neckline @ ~ 19.46 FUNDAMENTALS: - A lot of geopolitical tensions at the moment are proving...
**This is an update to my original idea on Jul 5th TECHNICALS: 1. - Price previously formed an inverse H + S - Neckline resistance @ ~ 16.2 - This level has now been broken and the pattern confirmed 2. - Price is now re-testing the neckline (now acting as support) - Possible false broke below neckline but will wait for 4h candle close to confirm ...
TECHNICALS : 1. - Double top bearish reversal pattern formed - Neckline @ ~ 19.46 - Currently neckline is being broken, if next 4h candlestick closes below I will go short FUNDAMENTALS: - Three high volatility news items today for USD - Average Hourly Earnings , Non-Farm Employment Change + Unemployment Rate - Could provide a lot of volatility for USD...
TEHCNICALS: 1. - Possible bull flag pattern forming on hourly charts - Continuation pattern - Previous bullish breakout of descending channel gives bullish bias to the pattern 2. - 1260 and 1250 Psychological levels acting as a resistance/support zone the possible Bull Flag pattern is forming within FUNDAMENTALS: - Three high volatility news items...
TECHNICALS: 1. - Inverse H + S bullish reversal pattern forming on hourly/4h charts - Neckline resistance @ ~ 16.2 - This level would need to be broken in order for the pattern/reversal to be confirmed 2. - Shoulder neckline of pattern is just below 16.000 Physchological level - This level and ~ 15.94 make up a resistance/support zone the shoulders of the...
TECHNICALS : 1. - Symmetrical triangle is forming - Continuation pattern - Previous bearish move gives bearish bias to the next move 2. - Previous double top reversal (confirmed by break of neckline) gives more weight to bearish bias ** Mainly going off technical analysis, as this is a commonly seen continuation setup **However alot of high volatility USD...
TECHNICALS : 1. - Price may be forming a symmetrical triangle - commonly known to be a continuation setup - previous break out of the descending channel points to a bullish breakout 2. - Previously resistance found at 1255 (not sure if this is Psychological level or not?) - This level now may have turned to support with price recently bouncing off it during ...
TECHNICALS: 1. - Price currently within a range - Between 0.74 (resistance) and ~0.7370 (support) - Large bullish move with large volume seen this morning 2. - Possible inverse H + S pattern - first shoulder foming 29/06/2018 @ ~ 0.7370 (support of range) - "Head" of pattern @ ~ 0.7312 02/07/2018 - Second shoulder of pattern @ ~ 0.7373 (support of range)...
TECHNICALS : 1. - Price broke through the descending trend line acting as resistance yesterday (02/07/2018) - However today has come lower to possibly close within the trend-line again - This looks like a false breakout at the moment, however will need to be confirmed on a higher time-frame such as the weekly before entering a position 2. - False...