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618 Fibonacci Retracement

AUD/CHF shorting signsSimilar to AUD/CAD, AUD/CHF is setting up for a short opportunity with the following in view: - inside bar following high test bar in pull back to 50ema - price rejection at resistance at ~0.8210 - price retraced to 0.618 Fibonacci level which coordinates well within proximity of resistance at ~0.8210 - Stochastic and RSI in overbought territory - Stochastic and RSI hidden divergence (bearish trend continuation) entry - below inside bar stop loss - above mother bar (above previous high test bar) target - previous swing low at ~0.7830, or lower
Short
by amanpaulbhogal
Selling a weak EUR/USDIn its prominent down trend, price continues to have pronounced consecutive cycles below the 20 ema pushing EUR/USD lower. Today’s bearish reversal bar bumped just shy of a past level, now acting as resistance, at 1.2500, and closes below 20 ema and 0.618 Fibonacci level. If a short trade does not trigger a re-entry can taken at the test of 50 ema and/or 1.2500. Entry – below today’s reversal bar Stop – above today’s reversal bar Target – once triggered, will let the trade run for price to rendezvous at 1.2000 where it’s been before Reverse set up of the same nature on USD/CHF.
Short
by amanpaulbhogal
Hourly cycle predictability on EUR/USD In view of price action on the daily time frame, EUR/USD has demonstrated a lower high with a rally back into the daily time-frame's falling trend line with the possibility of heading into ~1.2885 where the recent daily high sits. A violation of this high, though unlikely, could see a change in trend in EUR/USD. Until then, as indicated by price action behaviour, advantage of a potential rise back to 1.2885 can be taken by looking for a long predictable intraday opportunity on the hourly time frame. Previous retests at the bottom of the rising trend channel on the hourly timeframe occur alongside previous levels and, repeatedly, the 0.618 Fibonacci level. Furthermore the 50 ema could catch up in the buyzone to a confluence of these factors foreshadowing a move to the upside. entry - above low test/bullish reversal bar at bottom of hourly trend channel stop loss - below trend channel, 50 ema or low test/bullish reversal bar at bottom of hourly trend channel target - top of hourly trend channel (be cautious of price action reaction to falling trend line of daily time frame (in yellow)), and resistance at 1.2765 on the hourly timeframe
Long
by amanpaulbhogal
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