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Gbp-cad

Gbp-cad

GBPCAD 500+ pip move potential GBP has been dominating all week and is, imho, overextended. GBPCAD is now at a Daily Resistance level that has been rejected 3 out of the last 4 times (75%) Need to see compression on the 60 min chart below the resistance level and then a strong bearish candle for entry. Entry = not yet ??? the stop will be 10 pips (+2 for spread above the last swing high) PT = 1.6668 * both sides of this pair have news release that will effect this trade. GBP retail sales at 4:30 est.which is forecasted for -0.8 which can easily be beat and CAD CPI at 8:30 est .Please take this into consideration ** A more aggressive entry can be made if there is either multiple testing of the resistance level or a tight compression below but at it, for at least 8 hrs.

Short

Updated

XAUUSD Approaching Resistance, Potential Reversal XAUUSD is approaching its resistance at 1312.17 (61.8% Fibonacci extension , 76.4% Fibonacci retracement , horizontal swing high resistance) where it could potentially reverse down to its support at 1282.40 (23.6% Fibonacci retracement , horizontal overlap support). Stochastic (89, 5, 3) is approaching its resistance at 97% where a corresponding reversal could occur.

Short

AUDJPY Approaching Resistance, Potential Reversal AUDJPY is approaching its resistance at 78.84 (61.8% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse down to its support at 75.79 (38.2% Fibonacci retracement). Stochastic (89, 5, 3) is approaching its resistance at 98% where a corresponding reversal could occur.

Short

SPXUSD testing resistance, potential reversal!SPXUSD is testing our first resistance at 2627.9 (horizontal pullback resistance, 50% fibonacci retracement , 100% fibonacci extension ) where a strong drop might occur below this level pushing price down to our major support at 2521.30 (horizontal pullback support, 38.2% fiboancci retracement). Stochastic (89,5,3) is also testing resistance where we might see a corresponding drop in price.

Short

EURAUD Approaching Resistance, Potential Reversal EURAUD is approaching its resistance at 1.5981 (100% Fibonacci extension, 23.6% & 50% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse down to its support at 1.5877 (61.8% Fibonacci retracement, horizontal overlap support).

Short

NZDUSD Approaching Support, Potential Bounce NZDUSD is approaching its support at 0.6714 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 0.6797 (61.8% Fibonacci retracement, horizontal pullback resistance).

Long

EURNZD Approaching Resistance, Potential Reversal EURNZD is approaching its resistance at 1.6886 (100% Fibonacci extension, 50% & 38.2% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse down to its support at 1.6770 (61.8% Fibonacci retracement, horizontal overlap support).

Short

AUDJPY Testing Resistance, Potential Reversal AUDJPY is testing its resistance at 78.59 (38.2% & 61.8% Fibonacci retracement , horizontal overlap resistance) where it could potentially reverse to its support at 75.60 (38.2% Fibonacci retracement ). Stochastic (55, 5, 3) is approaching its resistance at 98% where a potential reversal could occur.

Short

EURAUD Bounced Off Support, Potential For A Further Rise EURAUD bounced off its support at 1.5789 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) where it could potentially rise further to its resistance at 1.5967 (23.6% Fibonacci retracement, horizontal swing high resistance). Stochastic (55, 5, 3) bounced off its support at 1.1% where a further rise could occur.

Long

AUDCHF Approaching Resistance, Potential Reversal AUDCHF is approaching its resistance at 0.7124 (61.8% Fibonacci retracement , horizontal overlap resistance) where it could potentially reverse to its support at 0.7038 (23.6% Fibonacci retracement, horizontal overlap support). Stochastic (55, 5, 3) is approaching its resistance at 98% where a corresponding reversal could occur.

Short

AUDJPY Approaching Resistance, Potential Reversal AUDJPY is approaching its resistance at 78.79 (61.8% & 23.6% Fibonacci retracement , horizontal overlap resistance) where it is could potentially reverse down to its support at 75.75 (38.2% Fibonacci retracement ). Stochastic (55, 5, 3) is approaching its resistance at 98% where a corresponding reversal could occur.

Short

NZDUSD Approaching Resistance, Potential Reversal NZDUSD is approaching its resistance at 0.6879 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing high resistance) where it could potentially reverse down to its support at 0.6801 (horizontal overlap support). Stochastic (89, 5, 3) is approaching its resistance at 96% where a corresponding reversal could occur.

Short

EURAUD Approaching Support, Potential Bounce EURAUD is approaching its support at 1.5873 (61.8% Fibonacci extension, 76.4% & 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 1.6133 (38.2% Fibonacci retracement, horizontal swing high resistance). Stochastic (55, 5, 3) is approaching its support at 2% where a corresponding bounce could occur.

Long

AEX bounced off support, potential for further rise!AEX bounced off our first support at 474 (horizontal overlap resistance, 100% fibonacci extension , 50% fibonacci retracement ) where a further rise might occur pushing price up to our major resistance at 61.8%, 38.2% fibonacci retracement , horiozntal overlap resistance). Stochastic (55,5,3) bounced off support where we might see a corresponding rise in price.

Long

XAUUSD Approaching Resistance, Potential Reversal XAUUSD is approaching its resistance at 1312.17 (61.8% Fibonacci extension , 76.4% Fibonacci retracement , horizontal swing high resistance) where it could potentially reverse down to its support at 1282.40 (23.6% Fibonacci retracement , horizontal overlap support). Stochastic (89, 5, 3) is approaching its resistance at 97% where a corresponding reversal could occur.

Short

UK100 Bounced Off Support, Potential For A Further Rise!UK100 is bounced off its support at 6613 (50% Fibonacci retracement , horizontal swing low support) where it could potentially rise further to its resistance at 7118 (38.2% Fibonacci retracement , horizontal swing high resistance). Stochastic (55,5,3) is bounced off its support at 3.6% where a further rise could occur.

Long

EURAUD Bounced Off Support, Potential For A Further Rise EURAUD bounced off its support at 1.5886 (61.8% Fibonacci extension, horizontal overlap support) where it could potentially rise further to its resistance at 1.6037 (23.6% Fibonacci retracement). Stochastic (55, 5, 3) is testing its support at 1.1% where a further rise could occur.

Long

AUDCHF Approaching Resistance, Potential Reversal AUDCHF is approaching its resistance at 0.7110 (61.8% Fibonacci retracement , horizontal overlap resistance) where it could potentially reverse to its support at 0.7007 (23.6% Fibonacci retracement). Stochastic (55, 5, 3) is approaching its resistance at 98% where a corresponding reversal could occur.

Short

NZDCHF Approaching Resistance, Potential Reversal NZDCHF is approaching its resistance at 0.6728 (100% Fibonacci extension, 50% Fibonacci retracement , horizontal overlap resistance) where it could potentially reverse to its support at 0.6592 (61.8% Fibonacci retracement). Stochastic (55, 5, 3) is testing its resistance at 99% where a corresponding reversal could occur.

Short

XAUUSD Approaching Resistance, Potential Reversal XAUUSD is approaching its resistance at 1298.25 (100% Fibonacci extension, horizontal swing high resistance) where it could potentially reverse down to its support at 1282.40 (Horizontal overlap support). Stochastic (89, 5, 3) is approaching its resistance at 97% where a corresponding reversal could occur.

Short

SPX500 breaking channel - Possible Big Short SPX500 have been trading in a narrow range channel - so far it broke the base of the channel, expecting this market to break down which is more probable scenario to me at the moment, but if it doesn't then i am looking the top of the channel for a short trade. As this market is bearish trending and momentum on all across higher time frames supporting the view, so keep watching this market for a big trade opportunity. Trade Safe!

Short

by UmarAbdurRehman

Updated

DAX Approaching Resistance, Potential Reversal DAX approaching resistance at 10999 (100% Fibonacci extension, 38.2% Fibonacci retracement, Horizontal overlap resistance) where it could potentially reverse to its support at 10278 (100% Fibonacci extension, swing low support). Stochastic (34,5 ,3) is approaching its resistance at 95% where a reversal could occur.

Short

XAUUSD Approaching Resistance, Potential Reversal XAUUSD is approaching its resistance at 1312.17 (61.8% Fibonacci extension, 76.4% Fibonacci retracement , horizontal swing high resistance) where it could potentially reverse down to its support at 1282.40 (23.6% Fibonacci retracement, horizontal overlap support). Stochastic (89, 5, 3) is approaching its resistance at 97% where a corresponding reversal could occur.

Short

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