USDCAD looks bearish1. We have reached the HIGH of the DAY and there is a SUPPLY ZONE
2. SInce we are at the HIGH we are looking for sell opportunities
3. We have CP price action towards our SUPPLY ZONE
4. TP should be at the end of CP
Commoditycurrencies
(AUD/ USD) Bullish 5-0 Patternthis pattern started off as a Bearish - Shark Pattern but as you can see PA came to the .618 and is now starting to reverse and head the other way. These 5-0 patterns are rare and not often completed as the shark pattern continues in its intended direction. The Shark Pattern was completed with PA reaching the 618 of the pattern but if this candle closes as strong as it is then look for entries.
USD/CAD Bearish Shark PatternSo, here on the dollar Loonie we have a bearish Shark Pattern. We currently have price in a decent area of resistance and both of the oscilators are in an extereme area. the reaction will happen fast. i will probably miss this pattern as the move will probably happen in the london session. Careful of PA making it to the 50 of the pattern it has the potiental of doubling back as a bullish 5-0 pattern.
AUD/USD (Aussie/ Dollar) Here on the Aussie Dollar we have a bearish gartley pattern. i would be surprised if this pattern moves today as the 10Y bonds are having a weak day, and the dollar is weak against some of the exotic pairs like USD/MXN. Its hard to say if you're looking at the Rubble as its having a rough day too. I'm not in the "know" on Russian news. So, again I would be surprised if the pattern moves today. What i think we might see is PA trace up to the shaded area and kiss the HOP level and play around a bit. i would like to see the oscillators move into the extreme zones before considering an entry! Stop is the red lines and tp 1 is 382 of the pattern and tp2 is the 618 of the pattern. Sorry everyone for not going inot super deep detail just trying to push out info and get back to studying! the courses are still in the process, again once my profile goes premium ill advertise here.
NZDUSD trading planPlans for a swing trade on NZDUSD. Waiting for confirmation on my ellipse for potential sells from that supply zone.
Potential double top to look out for as well.
AUD/CAD Long Opportunity - Battle of the Commodity Currencies Hello Fellow Trader!
Great risk to reward play forming on AUD/CAD with AUD looking to strengthen against the USD as the Iron Ore price strengthens and oil dropping effecting the Canadian Dollar.
Key Points:
- Price crosses September trend line
- Consolidation above trend line
- We have the 21 EMA crossing above the 50 EMA
- Price sitting on 38.2% Fibonacci retracement
- RSI to test above 50 territory
Caution:
- 50 EMA and 200 EMA will act as resistance, so risk management is important if failed.
Key Levels:
Support – 0.95105, 0.95000
Resistance – 50 EMA, 200 EMA, 0.95500, 0.95770, 0.95950
Entry Zone:
Optimal entry provides the greatest reward to risk ratio while supporting entry is a zone for reversal signals.
Optimal Entry – 0.95200
Supporting Entry – 095300
Candle Reversals for entry
- Bullish Hammer
- Bullish Engulfing
- Bullish Piercing
The Risk:
As traders, it is your job to mitigate the risk and only trade structures that provide high probability and great reward to risk ratios.
If you are not comfortable with defined exit levels, experiment with Moving Averages to help set solid exit rules to protect your capital.
IF: Price breaks below 0.95105 – this would suggest the structure is not in our favour and would be wise to reduce exposure or close the trade until a solid signal gives us reasons to re-enter.
Reward / Reward Targets:
Optimal Entry 0.95200 – Target 1 0.95500 = 2.2x Reward to Risk
Optimal Entry 0.95200– Target 2 0.95770 = 4x Reward to Risk
Optimal Entry 0.95200– Target 3 0.95950 = 5.5x Reward to Risk
Supporting Entry 095300 – Target 1 0.95500 = 1x Reward to Risk
Supporting Entry 095300 – Target 2 0.95770 = 2x Reward to Risk
Supporting Entry 095300 – Target 3 0.95950 = 2.7x Reward to Risk
CADJPY 800 pip move! (Long Straddle) Probability of price breaking away from the purple range (highlighted on the chart) by 600-980 pips is >85%
Note: Grey lines are anticipated pivots to instate the big move
NZDUSD - 2nd Wave Retracement In CompletionDo you have the answer to that equation on the chart?
That's usually how I find as many technical reasons as possible to identify a trade that I will not regret making.
The dollar is near the bottom of its major range at 94.4, commodity currencies have proven to be weak as well.
So shorting NZDUSD is quite a safe choice and given the fact, the price has retraced very significantly.
Always go for the trade you have no reason not to make.
[GOLD] POTENTIAL PULLBACK IN SHORT TERMHi Traders,
If we will see a support breakout, this could be a clear bearish signal in short term.
If you think this analysis can be useful, leave a your comment or your LIKE!
Thank you for support and trade with care!
RBNZ rate decision & NZDUSD at confluence resistanceWe observe a tug of war between buyers and sellers near .7280 -.7310 area, here lies the confluence resistance, channel bottom line crossing the down trend line.
1- RBNZ rate decision may give the direction cues.
2- Longer term down-trend is still intact with resistance @ .7740 handle, but since Aug 2015 kiwi showing resilience against greenback.
3- we have short term bullish bais above .7220 and looking to enter long once RBNZ rate decision announced.
4- From commodity bloc both aussie and kiwi are performing better against king dollar as compared to CAD which may struggle further as OIL remain range bound.
