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Medianlines

NZDUSD - Is the Rally... Fake or for Real?Current price action could be a fake move to the upside... Unless 0.8515 proves to be a tested support level. Dashed light grey Median lines plots the potential down slope (but could be invalidated if price goes higher). I expect the upside move to be capped not higher than 0.875 - 0.877. If price doesn't break this level, expect a test of support at 0.852, which if gives way could go all the way to 0.8265 to complete the broadening triangle's target. Also look for the daily close. A pinbar kind of set up near 0.864 - 0.863 could give some clues.
by justatrader
3
Good guy AUDUSD listens so well to Mr Elliot and Mr Andrews Idea is a based on a combination of elliot wave theory and median line analysis. The reasoning behind this technical analysis is a basic count of elliot waves combined with a longer term slope (please zoom out to see it). On the chart you will have concrete target and stop loss. Why I think wave i is about to end: price is sitting right against a top of a schiff pitchfork which I chose not draw on the chart to reduce clutter. Please check out the comments section!!. For those of you who will repeat the count of all the subdivided waves ---> RESPECT.
Short
by NQunlocked
21
GBPCHF heading down a bit but going up towards previous highesIdea is based on a combination iof median line analysis and Fibonacci ratios. Don't hesitate to ask if you want to know more. Chart contains all reasoning behind this technical analysis and concrete targets and stop loss!. One can argue that going long from current price is not bad considering the RR, however personally I would wait for the price to stabilize of head a bit higher before going long (if the green entry price is not reached) Good luck.
Long
by NQunlocked
5
NZDUSD fate seems to the downside but caution is needed!!!When one considers where price is at right now, then it is not yet possible to say with absolute certainty that NZDUSD is going lower. We are still sitting on top of a strong support line. Only when this line is broken and closed under (on 4hr chart) then I will have a bearish bias. The reasoning behind this technical analysis and concrete targets are shown on the chart. Be aware regarding the targets, the longer it takes to break this blue line the higher they should go based on the slopes where they are situated. Apologies for the humongous font size of the call outs, made the chart unclear!. Good luck!
by NQunlocked
9
USDCAD IS GOING DOWNMedian line analysis and Fib ratio's indicate that USDCAD can not close higher than last weeks high. Price is on the verge of breaking an Andrew's (gray) pitchfork that dates back to 09-04 and thus about to resume it's downward slope (blue pitchfork ) that dates back to 31-01. Expect price to form a double bottom with the lows from 08-05 before going up again. Chart contains all reasoning behind this technical analysis and concrete targets and stop loss. Good luck guys
Short
by NQunlocked
7
CADCHF Completing CorrectionAre we good to go? Is it a higher low, nicely placed at the lower median line parallel of the blue fork? It looks like CADCHF has found nice support at the 0.382 retracement, which is way above the half-way of the May rally and thus seems to be a factor conducive to further up trend advancement. I find the CAD to be very strong and to have a lot of latent bullish potential, and yet it is way oversold. The CHF is still relatively weak, although not as weak as the NZD. I expect this market to make it to the prior high (the green level) or even to the blue median line. The stops for this trade idea should be kept below the lows to the left, ideally below 0.8155. ----------- Disclaimer: There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell. Rather, you should use the information only as a starting point for doing additional independent research, your own due diligence, in order to allow you to form your own opinion regarding trading decisions. No assumption should be made in relation to the performance or accuracy of the methods shown. No claims are made as to the success or profitability of any of my posts.
Long
by ForceFollower
5