FOREXCOM:GBPUSD
As the sweet drawings on the chart suggest, GBP has some options. When you get into levels of structure such as this, it can make for some interesting waves. Last week, the 4H saw some nifty trending moves to the upside, but ultimately, and as shown here, are most likely just a complex pullback in a larger downtrend. For those wishful thinkers,...
FOREXCOM:EURUSD
Overall, I do not believe this downward trend has completed. I do however feel a pullback will take place over the course of the week, potentially bringing in some limited short-term buy opportunities. The bearish momentum candle with the extended wick into the support zone suggests that bulls are willing to enter the market at these prices. I...
FOREXCOM:AUDUSD
I haven't looked it up, but this and NZD have to be pushing 97% correlation lately. They both look set up to continue lower, and the small consolidation here looks as though it will end up as nothing more than a short price shelf as price continues to put in newer lows. Gonna risk 80% and enter short before the market even opens... :P
Check out...
FOREXCOM:NZDUSD
Two numbers: 25 and 3
Of the last 25 candles, only 3 can be considered definitively bullish. If you're playing averages, and assuming you're looking at this because you trade Forex you probably do, there's a high likelihood of a bullish candle printing any time. At the current support level and the 12% bull candles of the last 25, now is as good...
FOREXCOM:USDCAD
My initial gut feeling was short until I started marking up the chart with SR zones. Besides the uptrend it's currently riding, it just put in a double top at a resistance level that recently held. The bear reaction to each push was substantial, but I don't think it's a true roll. Price sits at a significant support level, and if you didn't...
FOREXCOM:USDCHF
Potential for trend continuation move after seeing confluent signals including a small reversal candle at the same level as the .382 retracement, which also happens to be at a level of resistance. The aggressive play is to get in soon, or we wait for a few more factors of confirmation such as a close below the recent swing low. If not, and with...
FOREXCOM:USDJPY
I'll be looking for a double bottom to form before I try any long position. If price breaks the support zone look for your trend continuation entry reasons. I'd rather see the upward move for target reasons, but decent setups for either direction should show themselves soon.
FOREXCOM:GBPUSD
I suspect deep retracements are overdue and I'm seeing a setup that usually results in a decent upside move. Price has moved past my entry level, so unfortunately it's popcorn and fun dip on this one.
FOREXCOM:EURUSD
Look for price to continue the downward slide to at least the nearest structure level and possibly further. I still expect some upward movement in the near future, but the bounce is taking longer than expected.
FOREXCOM:AUDUSD
Although the massive bear trend looks to be losing steam, it doesn't seem as though it's ready to end. If you're a candlestick trader your long entry on the retracement may have already passed, or it's right around a second chance entry level. The resistance zone is my projection for max pullback before the continue downward. Look for short...
FOREXCOM:NZDUSD
The current sell-off cannot last forever, and the major support level it just entered will have something to say about it. Price action just completely disrespected two support levels on its way down to where it currently sits. The .382 retracement level sits in the middle of the two structure levels and is where I'd like to see some signs of...
FOREXCOM:USDCAD
Major Structure
Long-term Support Line
Important Price Level
Overall Bullish Trend
We have two beautiful and powerful support and resistance levels surrounding another important price level. Play the range or wait for the break, but more importantly, enjoy the amazing story unfolding. As if it was fate, a support line (not a trend line since...
FOREXCOM:USDCHF
USDCHF is interesting in that it ranges in a very deliberate fashion. The green box represents a roughly 250 PIP range in which price tends to bounce. If you extend it either direction (up or down) the same amount, you have a box that contains somewhere around 99% of price action for the past 4 years. The green box itself seems to have an...
FOREXCOM:USDJPY
Bearish momentum
Potential for confirmation of mid term bear trend
C leg bear trend fractal
Important level of support
I'd rather not get into a habit of projecting consolidation periods, but it certainly feels like a possibility for this pair. Price action is attempting to put in new lows to confirm a larger overall bearish trend that started...
FOREXCOM:GBPUSD
All-Time lows
Extremely important price level/support level
Psychological number
Relief imminent
Expecting a period of relief or consolidation. Look for price to have a hard time breaking structure in the short-term, but once there is a break, it will make large moves quickly. Price is currently at a level that has shown extreme support in the...
FOREXCOM:EURUSD
Range tendencies
Near long-time lows
Price currently at very respected level
Bull flag
High structure relevance
Look for price to either make a move straight up into the depicted resistance level, or a dip down to the support level followed by a push up. Looking for immediate confirmation of move. Look for break of flag pattern to enter...
Look for price to fall into recent areas of structure. At these levels, price will either pause and continue lower, or reverse and continue reaching new highs. Look for entry signals at each of these points and set take-profits in reasonable locations.
