Please see annotated chart for details.
the price kroke up the bearish trend line, then retraces to 78.60 and coincides with support
View on EUR/AUD based on reasons shown on chart.
NZD/USD has retested 0.6500 today closing as a low test bar and just shy of trend line support. Price has also reached the 0.786 Fibonacci level closing above it. Stochastic and RSI show hidden bullish divergence. entry - above high of low test bar stop loss - below low of low test bar target - at previous resistance at ~0.6880
Reasons to short USD/NZD: - high test bar close - 20 ema rejection and close below - resistance (~6700) - downward trend line rejection (third bounce) - 0.786 Fibonacci level rejection and close below - Stochastic and RSI hidden bearish divergence entry - below low of high test bar stop loss - above high of high test bar target - previous swing low or lower
Looking at the following to sell EUR/USD: - inside bar - 50 ema rejection - resistance at @1.1100 - Fibonacci cluster: - 0.786 Fibonacci level rejection from previous swing high to swing low and closes below - 50% retracement between first swing high at the top of the trend line and closes below - trend line rejection - Stochastic and RSI convergence entry -...
Using the following to back a short entry on EUR/GBP on the daily chart: - inside bar - resistance at ~0.7120 - mother candle rejects: - 50 ema and closes below - 0.786 Fibonacci level and closes below - Fibonacci cluster - falling trend line for the 4th time closing within the downward trend channel - Stochastic hidden bearish divergence (comparison of...
Although looking a bit choppy, the bigger picture on Gold still shows an uptrend with higher highs and higher lows. Price has touched the floor at ~1180 and rejected the trend line for a third time giving a bullish engulfing and doji bar yesterday, together with rejecting the 0.786 Fibonacci level and closing above it. Stochastic and RSI are in convergence and are...
As we come to the close of the week, the markets have been extremely quite. However the has been a few trading opportunities this week despite the calm. I want to look at the USDCAD bear gartley pattern that is currently on market. Personally due the risk factor i can't trade it. Stops on this one line up pretty well close to structure giving you a good reward to...
Confluence of factors for short set up: - resistance at ~0.9590 (also weekly resistance) - inside bar formation in pull back below resistance - 0.786 Fibonacci retracement/rejection - hidden divergence (bearish trend continuation) entry - below low of inside bar stop loss - above mother bar target - previous swing low or 1.272 Fibonacci extension