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Breakandretest

Sell Opportunity for USDCHFLooking at UsdChf, price has been in a steady downtrend ever since it has rejected off of the monthly non-horizontal resistance level a couple of months ago. Considering the overall long-term bias for this pair is bearish, we will look to capture a short-term sell order when the opportunity presents itself. That brings us to the 4H timeframe, where price has just recently broken market structure. A significant support level has been intentionally violated and this could show us some signs of weakness for the future. If price could retrace back to the significant support level and treat it as resistance by leaving a bearish reversal candlestick pattern, I'll look for sell opportunities at that moment. But until then, just patience.
Short
by CapitalHillFX
Possible Reversal Setup on USDCAD On UsdCad, we could be seeing a potential reversal forming. Price has been in a steady downtrend for quite some time now, but it may seem like we're losing some bearish steam. If we look on the monthly timeframe, we could identify a clear support level that price is sitting at right now. This is a major factor that identifies price may reverse at this point. Looking at the 4H timeframe, we could see that price is having difficulty breaking the current support level to continue bearish structure. This could identify that sellers cannot take over and buyers could come into play soon. I've identified a significant resistance level that could be useful in the future. If price manages to break this resistance level, I'll be looking for more uptrend structure before trying to capitalize on the bullish reversal. For now, just patience.
Long
by CapitalHillFX
Possible Reversal on EURJPYWe finally found some bearish movement on EurJpy. I've been avoiding bullish buys on this pair for a while now because in my subjective opinion, it looks overbought. When we analyze price on the daily timeframe, we are currently sitting at a daily non-horizontal resistance level that could warrant a bearish reversal. When scoping down to the 4H timeframe, price is also sitting at a lower-timeframe resistance level. This overbought non-horizontal resistance level identifies a great opportunity fro sell setups. We've began to violate the recent significant support level, showing some bearish movement. If this pair develops more downtrend structure, I'll be looking for sell setups.
Short
by CapitalHillFX
Possible Buy Opportunity on EurNzdLooking at EurNzd, this pair has been under my radar for a while now. Mostly because price has been ranging for quite some time now since it's reached the non-horizontal support level. It may seem like price is rallying to break some market structure. if we look on the daily timeframe, price is currently testing a daily resistance level that shows some strong significance. If price is able to definitively close past this level, a sign of strength could be identified. Scoping down to the 4H timeframe, although I want to see price break the overall daily resistance level, there seems to be another level of interest on the lower timeframes. I've outlined another level that is a trigger for a potential buy execution. So bottom line, if price breaks and retests the daily resistance level = sign of strength (bullish bias). If price breaks and retests the 4H resistance level above = buy opportunity is valid. Let's wait and see how she plays out.
Long
by CapitalHillFX
Reversal Setup On EURUSDLooking at EurUsd, it seems that the bearish reversal setup I called yesterday could be playing out! If we start on the daily timeframe, price is sitting at a non-horizontal resistance level (signaling sell opportunities). Scoping into the H4 timeframe, price has begun to break market structure by violating a significant support level. Although price has travelled in this area not too long ago, it seems like that was a bearish fakeout. This means that price looked to have break market structure, only to quickly snap back into the range it once was in. If we begin to see more bearish market structure on this pair, I will be switching my bias to bearish.
Short
by CapitalHillFX
Sell Opportunity on AUDNZDAnother Aussie pair that has some downside potential is AudNzd. Starting on the daily timeframe, price has had a bearish rejection off of the non-horizontal resistance level. Ever since the rejection, we've been relatively bearish since. Now, price has broken a significant support level and came back to retest it as possible resistance. When scoping down to the H4 timeframe, price is seemingly having a hard time to get past this resistance level. Although this shows that the resistance is pretty significant, price is still not breaking the H4 support level that I've outlined. If we get a bearish candle closure past this H4 level, that will identify selling momentum that could shoot towards the downside. I have an alert set below the level so if/when price breaks this support, I'll most likely be in for sells.
Short
by CapitalHillFX
Sell Opportunities on AUDCADIt looks like most of the Aussie pairs took a bearish dive last night. As for AudCad, this is good news considering this aids our overall bearish bias that I called in the beginning of the week. If we look on the daily timeframe, price is beginning to break the significant long-term support level. This could be identifying strong bearish movement for the future. With this being said, I'll be awaiting price to make a strong decisive push towards the downside to prove that the bears are in control before looking for a retest and capitalizing on this bearish movement.
Short
by CapitalHillFX
Possible Reversal Setup for EURUSDLooking at EurUsd, we could be seeing a potential reversal setup. Looking at the larger timeframes, price is in a bearish downtrend channel. I've created a non-horizontal resistance/support levels to use for context. Price is currently sitting at the monthly non-horizontal resistance level, signaling long-term sell opportunities. Scoping into the 4H, we could see that price is having difficulty to try and break the current resistance level. This cease of creating new higher highs could signal to us that our reversal could be coming soon. If price drops below the current support level and begins to create some downtrend structure, we could start changing our bias to bearish. But just patience to wait and see what she does for now.
Short
by CapitalHillFX
Buy Setup on NZDJPYLooking at NzdJpy, I am anticipating some more bullish momentum on this pair. On the 4H timeframe, we could see that price broke a major resistance level, and had a bullish impulse on the retest. We then found some major resistance and retraced back to the current support level. If we scope down to the hourly timeframe, we could identify a bullish rejection wick right at the level. If we could get a bullish candle closure following this rejection wick, it would signal that there is some bullish sensitivity around this area, and buy orders wouldn't be a bad idea. I'm going to keep an eye on what price does following this rejecting wick.
Long
by CapitalHillFX
Possible Sell Opportunities on AUDCADLooking at AudCad, this Aussie pair has a little different bias then the others. Zooming out to the daily timeframe, we could see that price has been creating solid downtrend structure and we are currently coming to a daily support level. Now zooming into the 4H, we could see that price just keeps creating lower highs and lower lows effortlessly. If price manages to have a bearish impulse past the daily support level followed by a retest as potential resistance, I'll be looking for sell opportunities.
Short
by CapitalHillFX
Possible Reversal Setup on USDCADOn UsdCad, we could be seeing a potential reversal forming. Price has been in a steady downtrend for quite some time now, but it may seem like we're losing some bearish steam. If we look on the monthly timeframe, we could identify a clear support level that price is sitting at right now. This is a major factor that identifies price may reverse at this point. Looking at the daily timeframe, we could see that price is having difficulty breaking the current support level to continue bearish structure. This could identify that sellers cannot take over and buyers could come into play soon. I've identified a significant resistance level that could be useful in the future. If price manages to break this resistance level, I'll be looking for more uptrend structure before trying to capitalize on the bullish reversal. For now, just patience.
Long
by CapitalHillFX
Possible Buy Setup On AudJpyWe have an interesting setup forming on AudJpy. On the larger timeframes, we could see that price is trending upwards through a bullish channel. We have just recently rejected off of the non-horizontal support level and created some uptrend structure (higher high, higher lows) after the correction movement. Now, I've identified two levels of significance. One is more noticeable on the H1 timeframe, and the other is more noticeable on the H4/D. I've labeled both to distinguish the difference. As for validity of the levels, I usually tend to resort to the level most visible on the higher timeframes (aka H4). The levels on the higher timeframes seem to just hold more significance and work really well when you're able to identify them. I would consider the H1 level, more of a "minor zone", while the H4 level is a "major zone." As far as analysis goes, price has just recently broken the minor zone and retested it on the lower timeframes. If you're eager to enter a trade, this entry wouldn't be a bad idea. But as for me, I'm going to wait for extra bullish confirmation by waiting for price to break through the major zone. This will certainly show a sign of strength for the pair, and I'll wait for the retest before executing longs. Enter at your own risk!
Long
by CapitalHillFX
Buy Setup on NZDUSDOn NzdUsd, price has been overall bullish on the larger timeframes. I've created non-horizontal support/resistance levels to contextually analyze where price is relative to the levels. We could identify that price is currently sitting at a non-horizontal support level, which signals buy setups. On the lower timeframes, price has been ranging between a significant support and resistance level. The only times price has broken this range is to reject off of the non-horizontal resistance and support level. If price manages to break through the resistance level, this will show a sign of strength to me, and I'll be awaiting a pullback to the level before considering a buy setup. If we have some bullish rejection present on the retest, I'll most likely go long. But for now, patience patince patience.
Long
by CapitalHillFX
Buy Setup On GbpUsd The setup I called in the beginning of the week, is starting to play out. On the lower timeframes, price has broken the significant resistance level and came back to test as support. But on the larger timeframes, we don't want to neglect the clear extreme weekly resistance level that's approaching. If price has a bullish reaction following the recent retest, then potential targets for this pair would be around that extreme level. The stop loss could be placed right underneath the level. Let's see if we could get some bullish movement.
Long
by CapitalHillFX