USD/CAD SHORT IDEAWe have a triangle formed and it looks like it'll be heading down south to around the 1.3000 level
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USD/JPY SHORTI'm looking to SHORT USD/JPY shown in the analysis provided. In my opinion this looks pretty solid and follows the current downtrend happening right now.
The Dollar Isn't Relenting Even On Lower PayrollsLower payrolls would usually send the Yen soaring against the Dollar however the Dollar rallied against the Yen on Friday before a predictable retracement.
The purple dash is a historic yearly resistance level where if price closes above a prolonged bull run is more than possible.
For now a retracement back to prior structure before a continuation of bullish price action is likely.
AUDUSD LONG TRADE1. Stopping volume: The previous bar is a down bar closing at the lows of the bar with high volume, what this means? possible selling, but, look how the next bar respons, high spread bar, closing at or near the highs with greater volume, so, if the previous bar was a weak bar, why the market didnt go down? The next bar is a up bar with not excesive volume, so, it confirms the demand.
2. Possible buying climax: Look at that volume, is incredible, in a up bar with wide spread closing at the middle of the bar, this is weakness, and need to be confirmed in the next bar, but evene if this not happend, you know that there is some selling that needs to be tested.
3. No demand: This bar do a incredible job, because is the first bar after the real weakness hit the market (the buying climax) in close above the close of that bar, and it did with literaly no volume, so, this is a confirmation of a weak market, why if you have demand in the market, the volume is not high or at least average?
4. Trap up move: This bar is seen after a no demand and a possible buying climax, this bar is the final confirmation of the weakness, you can say that this bar is caused by the brexit effect, but, if you read the chart 4 hours before you had a clear zone of distribution. This bar closes lower that the lows of the buying climax. This bar also contains high volume, so, be aware if there is some strenght you need a test or a no supply bar.
5. Gotcha bar: This bar is a down bar with a ultra wide spread, closing at or near the lows of the bar with the higher volume seen in the chart, so, be aware because this bar also contains a lot of demand, and that demand need to be tested to raise a market.
6-7. Supply coming in: Three up bars with wide spread closing off the highs or at the middle with high volume only indicates one thing; supply still in the market. But you are now in a zone that also contains demand by the gotcha bar, so, you need a clear breakout of the low of the bar 5 and bar 1 (where the demand hit the market).
8. Up-thrust: Up bar with wide spread closing almost where it opens with high volume, a clear bar that was absorbed by the supply. This bar will be our trigger to open a long position.
9. Test: This bar is a average-wide spread down bar closing almost at the highs, testing if there is some supply in the market at that zone, because the smart money sell in this bar, and if the volume is average-high, they know that other players are selling too, but, in this case, nobody (at least nobody in the smart money) wants to sell, you can see it in the low volume. The next bar confirms this signal.
10. Strenght coming in: Down bar wide spread with high volume closing in the middle of the bar, this bar says that the demand in that zone is absorbing the supply. This bar is seen in the same zone of previous strenght (the test) and in the same song as the signals 5-6-7, so, if there are no supply in this area, you now know that you got strenght. Wait for a confirmation and new signs of strenght in the future.
Well, im waiting in the 5M-15M timeframe to a SOS (sign of strenght) above the pink line (the last sign of weakness seen in this chart) to open a long position and my take profit will be the next pink bar. In this timeframe i cannot see a clear sign to open a position now.
EUR/USD Forecast June 7th 2016We can see that EUR/USD have come up to an order block entry and also a liquidity zone, it is now set for a drop down (short) and we have a couple of order block entries that will allow re-entry and cash out. Liquidity zone is also highlighted and is the area we believe it will come down to.
USDX ForecastThe forecast for USDX. It has come down and touched previous order block, it now has 2 major order block areas in front of it (north, bullish) and then it will go into liquidity zone before it does another retracement before final climb up to top area where we have another liquidity zone.
GBPUSD - GOING SHORT TARGETING 1.4420Free forex signals for 30 days - check out our website at www.clearedgefx.com
EURUSD : Long term Forecast for 2016 - 2017 I am not a long term trader however it is often good to know the prevailing market bias so that we don't make huge short term projections against the prevailing market bias. When you take a short position in 2016 it would be a good thing to be conservative with your targets as the EURUSD is going up. Once the 1.1059 break happens I see an area of resistance at 1.1616 - 1.1760 and also at 1.1901 - 1.2098 , so I do advise you look out for these areas as they may offer temporal reversals before the market goes for 1.2300
Structure Trade & Bullish Gartley All In Play on USDJPYFollowing my post from yesterday, the market has now come back a little little deeper than where i said it would but it's still a valid long trade in terms of the structure trade i posted yesterday and if you're a pattern trader instead, the market has given you another alternative by forming another gartley pattern which has just completed. I'm still gonna be staying out of this trade because my second target from the first gartley i posted a few days ago is still open. Another good thing about this trade is the fact that my RSI is showing oversold conditions so i expect a pop back up from this point, so only time will tell now.
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EUR/USD SCALP IDEA "NEUTRAL' 'IF' 'THEN' EVENT RISK!
*SCALP STRATEGY FOR EUR/USD BEFORE CONSUMER PRICE INDEX*
'IF LONG'
- needs to brake resistance at 1.1045 for a possible long
- T/P 1.805 ( Resistance Level )
- However will pull out if price action dictates consolidation or uncertainty.
- Watch if price stays within the turquoise consolidation zone
- Look for strong candlesticks
'IF SHORT'
- needs to brake support at 1.1020
- T/P 1.09796 ( Support Level )
- However will pull out if price action dictates consolidation or uncertainty.
- Watch if price stays within the turquoise consolidation zone
- Look for strong candlesticks
' Graph Notes '
Purple = Trend continuation line, ( if long watch for brake )
Turquoise = Consolidation zone
Grey - Minor resistance/support levels
Green = Major resistance/support levels
- Wolf of El Cerrito
London Session Watch - XAGUSDSilver has been rising since last Friday and is near the 19.32 resistance level. The overall trend for this market is still bearish as the price continues to stay below the 200 period moving average. There is a bearish engulfing bar candlestick pattern which could lead the price lower in todays London session. The current support level is at 19.00 and resistance level at 19.32. The Stochastic, Commodity Channel Index (CCI) and Relative Strength Index (RSI) are showing Silver is overbought at this price level which add fuels to the bears. We will keep an eye on this market in todays London session as it could potentially provide some nice shorting opportunities.
EURAUD 240min - WAITING FOR DIRECTIONEURAUD currently @1.4417 - not doing much yet. Currently inside a big wedge in the 240 min chart and waiting for direction out of it.
But if you look at the EURAUD 60-min chart, we are inside an ascending wedge with a potential 30-35 pips once we break out of it and continuation to the top 1.4460-80 levels.
Both potential trades would be as follow:
LONG ENTRY @1.4430 STOP 1.4390 TARGET 1.4468-80
SHORT ENTRY @1.4380 STOP 1.4410 TARGET 1.4330-26
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These comments are for information purposes only. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors. Do not trade without proper research on the asset. This is an opinion ONLY – and not a trade call, but this analysis may lead you to a trade. The information contained on this document does not constitute a solicitation to buy or sell an asset by FOREXTRADINGZONES.COM.
DO NOT TRADE WITHOUT STOPS
AUDNZD Head & Shoulder 240-min - SHORT SETUPAUDNZD currently @1.0789 giving us a head & shoulder pattern right at the top of our Channel for a potential square up of the move from last week.
Let's wait to see if they will violate the H&S by going higher, If not take the short below the neckline @1.0770 - or even before the break at the current level of 1.0790
ENTRY: SHORT @1.0770 STOP 1.0800 TARGET 1.0730-20
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IMPORTANT DISCLAIMER:
These comments are for information purposes only. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors. Do not trade without proper research on the asset. This is an opinion ONLY – and not a trade call, but this analysis may lead you to a trade. The information contained on this document does not constitute a solicitation to buy or sell an asset by FOREXTRADINGZONES.COM.
DO NOT TRADE WITHOUT STOPS
