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USDJPY: 3 Potential Advanced PatternsMultiple potential advanced patterns setting up on the USDJPY all around the same area. We've yet to break out of this consolidation, but if we do before Friday's Jobs number, we have a good location to look for our next short. Before I get a million nasty messages no, I don't think dollar weakness and Yen strength long term, but that's what makes me a "Trader" and not an "investor" I don't have a long term bias when trading on shorter term charts. I take the setups as they come bullish or bearish despite my personal fundamental outlook.
Short
by Akil_Stokes
22
Anticipatory layout with important trend lines, levels, timefibsWe might be cought in sideways within the red channel for another 20 days. I look at the Willy or MAGNUS™ indicator and compare it to a similar situation we had a couple months ago. The yellow box had some rangebound action in it with a little breakdown in the middle ( just like we had it now ). The question is what will happen after the yellow box? The red box like last time? Then we will definitelly see 280 again. Or if 320 holds (looks like some strong demand is sitting there), we'll see another pump like seen in the last green box ! Also check out the time fib analysis : 0.382 & 0.618 were important points in time, so 1 will probably be important too! Likely a major low/high in price. The target for a bullish move is the thick blue dashed line, which is this years top resistance trend line. You can expect sellers there.
BITSTAMP:BTCUSD
by MagnusTradingGroup
2
Higher rates thoughts push down EurStay short EurGbp or, if you prefear, long GBP! Since the macro economic data started to improve, the pressure on the exchange rate has became stronger. The beginning of rates normalization will make the UK's currency more expansive versus the Euromoney. At the same time, the chart seems to confirm the bearish view: It is unlikely (given also the macro-analysis) that the price will brake-up the current level @0.7895, looking also at the RSI oscillator (in 60 area), we have no signs of bullish trend beginnin. My view is that the price will continue its down trend, following the channel you can clearly see on the charts. Take care of 0.78 area that could be a strong point of inversion or continuation of the trend.
Short
by NicoS
AUDUSD awaiting AUD news on tues n wedMy bias is for short. There is a confluence of - d1 line chart; day tf suggests a distribution pattern in place. ( red lines) -d1 fib5 - h4 channel top - h1 channel top with macd divergence What I really wish to see is for price to be kept pushing higher till Tues or Wed when price exhaustion can be suggested and short will be possible. Hence my plan is not to commit till the eleventh hour, and only act when fakeout is hinted and act upon it, likely just before news.
Short
by nakedchartist