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Breakandretest

Buy Setup on ETHUSDLooking at EthUsd, price is beginning to play out as I expected around a week ago! Price has pulled back to the lower level around 2900. Now wouldn't be a bad time to throw some money into ETH. As for short term plays, I would wait for a bullish bounce off of this level before validating any type of buying pressure. I still believe in the long-term bullish bias of this asset, so I do anticipate another bullish rally. But for now, this is what we're working with.
BITSTAMP:ETHUSDLong
by CapitalHillFX
Potential Sell Setup on AUDUSDLooking at AudUsd, recent price action has been favoring the sellers when technically analyzing the charts. We've recently broken a Weekly Horizontal Level and continued with some bearish momentum. I'll be waiting for price to come back to a Significant Pivot Point that includes a Weekly Horizontal Level and Non-Horizontal Resistance Level. The multiple levels of significance provide the setup with confluence, which helps validate the overall trade. Let's see if she could setup.
Short
by CapitalHillFX
A Couple Buy Opportunities on GBPAUDThere's a couple different ways that GbpAud could play out. It's possible that price could continue it's bullish momentum and break the current resistance level it's approaching. In this case, I would be trading the break and and retest of that level. If prices begin to drop, the lower Daily Significant Level would be a potential zone where price may react with. Either way it plays out, I have a bullish bias for this pair. Well see how this one plays out come market open.
Long
by CapitalHillFX
Buy Setup on USDCADRecent market structure on the daily charts show that UsdCad has been impressively bullish over the last few months. Buyers have been showing their participation and I plan on capturing a potential bullish rally. Scoping down to the H4 charts, price has pulled back to an interesting pivot point. This area not only includes 2 Non-Horizontal Support Levels, but also a Significant Horizontal Level. The confluence on this setup is very apparent, now just waiting on some bullish rejection. Just some strong H4 candle closures will validate that the buyers have stepped in.
Long
by CapitalHillFX
Buy Setup on ETHUSDAs far as ETHUSD, a couple of situations could play out. Price is currently testing a significant level that was perviously tested in the past. Although this level fueled the bullish rally towards 4000, it seems like price is not showing enough buying pressure to send the price towards the upside. So what I think will likely happen, is price will drop to the lower significant level and begin test the level as support, followed by a bullish continuation pattern to help establish uptrend structure again. I believe this setup is more probable because price is still relatively overbought and a larger correction movement will settle this issue and allow more buyers to come into play. If price does manage to drop to 2800, wouldn't be a bad idea to throw some money into ETH! Well see how she plays out.
BITSTAMP:ETHUSDLong
by CapitalHillFX
Buy Setup on NZDCHFNow, let's take a look at NzdChf. Price has recently found some strong buying momentum and broke out of an established downtrend channel. We've had a small correction movement to retest the 4H Horizontal Level and now we're showing bullish rejection off of the level. This could be signaling further bullish momentum in the future. For extra confirmation, I would wait to see how this H4 candle closes in approximately an hour. If it looks like the bullish pressure is upholding, then buy orders aren't a bad idea. But if we begin to get some sellers in the mix, it's very possible that price could make a further correction movement towards the downside before finding enough pressure to send price for a bullish rally. Be extra cautious of this scenario, because price does look relatively overbought. It's just the price action is telling us that buyers are still in play. I won't be entering this one because I'm already in 3 trades, and this one is rather risky. But if you want to roll the dice, wait an hour atleast.
Long
by CapitalHillFX
Potential Buy Order on CADCHFLooking at CadChf, we could be seeing a buy opportunity present itself. I attempted to place a buy order on this pair last week, it just wasn't ready to take off. But I still have the anticipation that a bullish rally is soon to come. Price has continuously dropped to this H4 Horizontal Level, and followed with bullish rejection many many times! The sellers or buyers just aren't showing clear dominance yet. But I believe if the buyers can take over this Daily Horizontal Level that it's currently sitting at right now, that is a potential sign of strength. I'll be waiting for a break and retest of this horizontal level. And I will be sure to not make the same mistake I did last time on this pair. I'll wait for significant bullish rejection before placing the order. Patience & discipline is always the name of the game.
Long
by CapitalHillFX
Potential Buy Setup on AUDJPY Onto AudJpy, we were waiting for price to pullback to this Significant Daily Level and follow with bullish rejection. Looking on the daily charts, it looks pretty apparent that price is beginning to reject away from the zone! But scoping down to the 4H charts, we had two strong bullish candle closures (which I should've entered after but I was asleep) and now the following candle is showing some bearish movement. I'll be waiting for another bullish candle before thinking of placing any orders on this one.
Long
by CapitalHillFX
Potential Sell Opportunity on EURJPYTuning back into EurJpy, although I was a little bummed that I missed this trading opportunity yesterday, price has come back to the level of interest and seems to be showing bearish rejection! I'll be waiting for this candle to close just to make sure we could keep the bearish pressure, but for the time being, it doesn't look like a bad opportunity to reenter for sell orders. I'll be patient and disciplined for the next hour and a half until candle closure.
Short
by CapitalHillFX
Potential Sell Setup On EURJPYLooking at EurJpy we could see a sell setup potentially forming. Overall market structure is showing us that price is in a bearish correction movement during a bullish uptrend. Although we've had quite a bullish rally the past 2 weeks on this pair, it didn't break any major structures in the market that invalidates our bearish continuation. When price approached the Daily Significant Level, we seem to be showing bearish rejection away from the level. If we scope down to the H4 charts, we could notice strong, intentional bearish candle closures away from the level multiple times. Although many could just place a sell order right now considering the bearish rejection from the level is significant, I'm waiting to see if price could pullback to a minor zone that was created as support before continuing its bearish rally. If price could come back to this zone and show bearish rejection, I'll most likely pull the trigger on sells. But either way, still bearish bias on the short term for this one.
Short
by CapitalHillFX
Potential Buy Setup On AUDJPYLooking at AudJpy on the daily timeframe, we could notice the bullish structure that has been created. More recently, price has been in a bearish correction movement which potential could be ending soon. The reason I forecast a bullish continuation is the way market structure is presenting itself for now. Within the last week, we've had a strong bullish push towards the upside while breaking some downtrend structure. This break of market structure could be the buyers way of telling us that they are beginning to step in. I'll be waiting for a retracement back to the Significant Daily Level, before monitoring bullish rejection for potential buy orders. Just patience and discipline for now.
Long
by CapitalHillFX
Buy Setup On ETHUSDLooking back at EthUsd analysis for third time this week, we could notice that bullish rejection is starting to become present around the level of interest. Although I had identified another signficant level that was around 2,800, for now it seems like for price is reacting well with the zone it's currently rejecting away from. I would wait an hour and a half for the daily candle closure just to add confirmation to the bullish momentum upholding. But it seems like we could have a potential upside rally in the near future. Let's see how the candle closes.
BITSTAMP:ETHUSDLong
by CapitalHillFX
Buy Setup on GBPAUDA little update on the analysis I gave for GBPAUD yesterday, things ended up playing out as I expected. Price retraced back to the H4 Significant Level and pushed away with bullish candle closures. With this bullish structure, we have broken another Significant Level that could cause a bullish rally. Price seems to be retracing back to the level for the time being. But I'll make sure to set an alert to know when price is experiencing some bullish momentum away from the level of interest.
Long
by CapitalHillFX
Chart Setup On ETHUSDIt looks like we got our bearish retracement from Ethereum as expected. Now the question is how steep will it retrace. We seem to be getting some bullish rejection from the level it's currently testing for the time being. But, if we don't notice a strong bullish candle closure off of this level, we could possibly see another drop to around 2,800 before gaining some buying pressure. We'll have to wait and see which level is more significant. The safe play in my subjective opinion, is the lower level, but we could possibly get our bullish push from the current zone as well. We shall wait and see.
BITSTAMP:ETHUSDLong
by CapitalHillFX
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