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0-618

EURAUD: The 0.618RET and 1.618REXTIn the weekly chart, the market has soared quickly in the past few weeks, will it go on? Maybe it is not because a strong resistance is near. The 0.618RET of previous decline from Aug 2015 to Feb 2017 is at 1.545 level and the 1.618REXT of the drop from Dec 2016 to Feb 2017 is at 1.539 level. Meanwhile the Supply Zone also works at 1.540-1.560 levels. Additionally, the historical resistance line is at 1.553 leve. What is more, the upper edge of equildistant channel may also a resistancel and the RSI has been overbought already. So it is good to sell at 1.540-1.560 levels when price action gives signals in the PRZ. SL: above 1.565 TP1: 1.477 TP2: 1.450 TP3: 1.400 and further more
Short
by AdamHong
Double Top with Break of Structure!Hey guys, the chart above is the 1hr chart on CHFJPY and i'm interested in shorting this pair since we're in a very high level and at a structure point. This means i can look for entry reasons on lower timeframes such as 1hr and 4hr chart. As you can see price has recently formed two tops followed by a break of structure to the downside, this gives us the condition for a 2618 trade. With stops above the highs, first target at the lows, second target to be determined. If you want to share your view or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
4
2618 on CHFJPYHey guys, the chart above is the 1hr chart on CHFJPY and i'm interested in shorting this pair since we're in a very high level and at a structure point. This means i can look for entry reasons on lower timeframes such as 1hr and 4hr chart. As you can see price has recently formed two tops followed by a break of structure to the downside, this gives us the condition for a 2618 trade. With stops above the highs, first target at the lows, second target to be determined. If you want to share your view or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
2
Short AUDUSD?Hey guys, here comes a structure trade: as you can see the last downward impulse has broken the previous support, this specific level becomes the first candidate to become new resistance (this it the key principle for structure traders). At this level happen to be also some confluences like a 618 retracement, a psychological number (1,46) and the divergence down in the RSI. Also, price has recently created a pinbar followed by a red big candle. This is enough for me to take a short position with stops above the highs, target1 at the retest of the most recent low, target2 all the way down to 0,75. If you want to share your view, or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
6
Can we short AUDUSD?Hey guys, here comes a structure trade: as you can see the last downward impulse has broken the previous support, this specific level becomes the first candidate to become new resistance (this it the key principle for structure traders). At this level happen to be also some confluences like a 618 retracement, a psychological number (1,46) and the divergence down in the RSI. Also, price has recently created a pinbar followed by a red big candle. This is enough for me to take a short position with stops above the highs, target1 at the retest of the most recent low, target2 all the way down to 0,75. If you want to share your view, or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
Additional confirmations on GBPCHFHi guys, today i want to bring this analysis i've made on GBPCHF. As you can see we're in a daily structure zone (blue rectangle) and price is having some difficulties breaking through. Actually it's created a nice double top with RSI divergence (down on the bottom) right at this level, that's also lining up with the 618 retracement and a psychological number (1,2600). Also, there's a Bat pattern that's just completed and it's a good confimation of the sell signal. Stops would go above X, targets as in the picture above. If you want to share your view, or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
2
Double Top on GBPAUDHi guys, this morning we could have a chance to get involved in this trade. Now i'm going to explain you why: first of all, the big yellow box represents a daily structure level, this level happens to line up pretty well with the 618 retracement of the bigger daily leg. In this cases i seek for trading opportunities down on lower timeframes: on the hourly chart you can see we have a double top forming right now, with RSI divergence. An additional clue could be the psychological level price is testing (1,6700). I'm waiting to see how the next candle will be. Keep you updated. If you want to share your view or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
Structure Play! (EURCAD analysis)Hi guys, i wanted to share with you this simple structure play. If you zoom out or if you give a look at the daily chart, you'll see that we are now testing a key structure zone on the daily. Therefore i use to lower a timeframe in order to catch an inversion with nice risk to reward ratio. This level also lines up pretty well with the 618 retracement and the psychological number of 1,4100. Plus, we've got RSI divergence and RSI overbought at this time. The clues are enough for me to take this trade, i'm waiting a pullback in order to get a better risk to reward ratio. Stop below the lows, targets as illustrated above. If you want to share your view or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
Structure Play on EURCADHi guys, i wanted to share with you this simple structure play. If you zoom out or if you give a look at the daily chart, you'll see that we are now testing a key structure zone on the daily. Therefore i use to lower a timeframe in order to catch an inversion with nice risk to reward ratio. This level also lines up pretty well with the 618 retracement and the psychological number of 1,4100. Plus, we've got RSI divergence and RSI overbought at this time. The clues are enough for me to take this trade, i'm waiting a pullback in order to get a better risk to reward ratio. Stop below the lows, targets as illustrated above. If you want to share your view or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
2618 & consolidation breakout on EURJPYHi guys, today i want to share with you this simple consolidation pattern called triangle: it basically consists on one trendline and one horizontal structure level converging at the same level. Price is making lower highs and equal lows. As you can see on the chart above though, price has actually broken to the upside this trendline, also breaking the double bottom's neckline (giving us a 2618 entry technique). Plus, the black line represents an important daily structure level, and on the daily chart the RSI is in oversold condition. All these conditions together make me think it could be a nice spot to go long here. I'm waiting for the completion of the 2618 in order to enter long. Stops below the lows, target1 at the retest of the highs, target2 at the top of the triangle. If you have any questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
Time for a Big Reversal? (EURAUD analysis)Hi guys, here we are on the 4H chart on EURAUD, i've been watching it for quite a bit now. As you can see price is now testing a key resistance level that also lines up with the 618 retracement of the previous leg. As soon as price came to that zone, it got immediately rejected by some selling pressure. I'm selling at 1,413s level, with stops just 2-3 pips above 1,4200. Target1 would go around 1,4050. If it breaks the head and shoulders neckline it could go all the way down to 1,3900 and even further. I'll keep you updated. If you want to share your view, or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
Time for a Big Reversal? Hi guys, here we are on the 4H chart on EURAUD, i've been watching it for quite a bit now. As you can see price is now testing a key resistance level that also lines up with the 618 retracement of the previous leg. As soon as price came to that zone, it got immediately rejected by some selling pressure. I'm selling at 1,413s level, with stops just 2-3 pips above 1,4200. Target1 would go around 1,4050. If it breaks the head and shoulders neckline it could go all the way down to 1,3900 and even further. I'll keep you updated. If you want to share your view, or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
Double Bottom at Cypher completion on GBPNZDHi guys, here on GBPNZD as you can see we have a nice double bottom (with RSI divergence) right at the completion point of the Cypher pattern. Besides, this level is also a level of structure that lines up pretty well with the 618 retracement of the bigger leg. The last bullish candle is the final sign of a possible reversal. We'll see. Stops below the low, target1 at the retest of the highs, target2 to be determined (right now i think at the second cypher's target) If you want to share your thoughts or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
Structure Exposed!!Hi guys, this is a simple structure trade: you can see price is coming back to retest the former resistance that once broken should turn into support. This is also lining up pretty well with a 618 retracement and a psychological number (1,40). You can see also a pin bar just formed with OVERSOLD condition. All those clues together make this trade a nobrainer. If the current candle will reject again that level i think i'm going to buy. Stops obviously below the pin, target1 and 2 with 382 and 618 retracement. Always look left. Structure leave clues! If you want to share your thoughts or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
GBPUSD at a decision point! Will it hold?Hey guys, today i want to bring your attention to GBPUSD. As you can see, looking left, there are multiple structure level that acted as supports or resistances. This level also lines up with the 618 retracement and a psychological number. So i'm going to look for a double top or a simple candlestick formation right there. I'll keep you updated. If you want to share your standpoint, or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
2