NZD/USD potential downfall It's formed a XABCD and another triangle to show the predicted movement of the market it's heading to.
It's hit the resistance line twice already from previous moves and every time the candlestick hits a resistance line, it continues to crumble and gets pressured to lower the price.
I am hoping it will continue to lower because it has already hit a resistance line by two 1 day candlesticks.
1day
Awaiting Short position on EUR/USD.I belive Eurusd is going to head back into the 1.14586 area to retest a key support level. Currently price is in no mans land. Once price reaches the key resistance level drawn in, we will be looking to sell it off to our first take profit level of 1.09456.
So for now this trade is going to require a lot of patience, as we will not be looking to do anything with Eurusd at the moment until it reaches our desired sell zone.
Potential downtrend on the DAXAfter the price couldn't break through the upside of the last high anymore a double top was formed and the price fall down below the trendline.
Now the price has retraced 76.40% and it seems that a lower high has formed. Normally I would watch for a good opportunity for a short trade here but because of the referendum tomorrow I will stay out of any trades for this week and wait until monday to trade again.
Eventually the referendum is helping to drop the price as I expect here but I think the risk is way to high to be stopped out in the next two days.
I wish everybody who is still trading good luck and nice profits.
Dennis
PS: I give no advice, I only share my opinion.
GBPAUD is going down :D... I hope...GBPAUD
well, there is not much to say, in 15m just broke a nice resistance, it seems that will make a nice shoulder-head-shoulder, also seems like the 1h and 15m 5th elliot wave, and the end of a 4th wave on 4h. It coudn't suppas the fibbo resistance. And well, in the lv2 there are like the HELL of a lot of selling positions right above that is scaring the price away...
Squezze is starting to fall, we have a short aceleration... What else we can ask? Maybe that MA 50 that is like saying "hey dont trusth this dud, go long" but... Naaa, who really cares about that silly MA... (Put some tight stops...) put stops around 1.9913... Or something like that, remember your spread.
Remember if you have a winning position and it goes to a losse position is a mistake that has no forgiveness, please follow your trade with stops and so. This is a daily swing, that could turn into a positioner trade... It might go short for weeks :D
That is what I am aiming for. SELL MY CHILDREN SEELLLLL!!!
CADJPY ShortI will be looking for a movement below the green support on Monday before placing a trade. Overall this pair is trending down and it has pulled back to resistance. I believe this is a good time to short with the proper signals. I will be paying close attention to RSI and MACD. I have 3 TPs shown. The green line is long term support on the weekly. Looking like a good setup though.
EURAUD- Awaiting solid confirmation then.... LONGWere in a bullish trend here :)
-This daily trendline has held for our last EA Long so I think it will hold again
-ABCD Structure
-FIB on here from most recent A to B wave watching the 0.618 as usual
-There is some AUD news coming out later this evening to bare in mind if we get it.
-So I'm looking for a good amount of rejection...some long wicks and reversal to enter
-Bare in mind a break of this TL we could be going south
Follow me on instagram and twitter: jackmyattfx for more ideas