Potential Short Opportunity. Upon breaking down EURAUD I was able to discover a advance pattern formation. Bullish Cypher.
Completion of the D leg has occurred and the first rejection so far has taken place. This pair can attempt the price of 1.41475 multiple times before committing to a reversal. So far, We have gotten exhausted candles illustrated in our H1 and H2 charts.
I am noticing a potential short opportunity to arise from this pattern. 1.41500 Being the utmost strength resistance.
Entry Conservative 1.41300)( Aggressive 1.41450-1.41500 (Current)
SL 1.41800 TP 1.41675 -30pips est TP-1.39950-140pips Est
FXU
Possible Long Opportunity. Breaking down GBPJPY i was able to observe a wedging effect to take place under some extended ranging or consolidation time.
I am expecting a bullish breakout to the upside.
My illustration describes what we observed. And how the pair may play out.
I am considering some Orders. That i will later add in the comments.
Potential Long Opportunity Upon observing GBPJPY I have Noticed the over all bearish activity. and also how much bullish activity that played apart in its price action progression. The descending wedge pattern being formed may be approaching a breakout.
As illustrated, i was created a "ejection box". If price action enters and closes within this box. It could have some time to gear up some buying pressure using the previous resistance as support.
If follows, will then again make attempts to break the box, ultimately creating a "buy the breakout" scenario.
Entry- 140.200 SL- 140.100 TP- 140.500
Entry- 140.200- SL- 140.000 TP -140.800
AUD Potential Swing Trade Short Opportunity. Looking to possibly setup a Short On this swing trade idea. This pair has been widely ranging for quite some time. DXY is the adjacent chart that can be used to reference possible movements for this pair. We observed a ABC Formation- Expecting a Double Top at the top around the ranging field. 0.75195
I am observing a rejection. But we still do believe that price action will raise this price a little more. So stay tuned on this up and coming short opportunity.
Long Opportunity. Breaking down AUDJPY i was able to observe that the high was tested at 87.425 earlier today and was not able to break the price. That is a structure being held from DEC12th It doesnt lead me to believe a reversal is next. I believe a retest in this price will occur; Or consolidation will occur between the the structure price range given in the graph. I am seeking a possible long opportunity.
I will update with coordinates.
USDCAD Observation. USDCAD Observation today i am recording a descending wedge. I am expecting this pair to exhaust selling power at the 1.29885 region. FIB Confluence approved the zones. Awaiting for the pair to sell out and exhaust, to potentially buy it up. I set an alert for when the pair breaks previous structure to the down side. Then ill set my by stop as price action goes that direction.
Fundamentals can alter the direction of this pair. There is CAD news releasing. Check the link below for the news article that my effect this pair. And other CAD pairs. Thanks GoodLuck!