EUR/JPY - Potential Short Set-UpI've been keeping an extra close on this pair over the past two weeks (despite the general trend direction favouring the bullish price action for a year and a half) the 260pip consolidation period that we have been stuck in since the 18th September 2017 is showing signs of exhaustion on the H4 chart and we could be looking at a run of bearish price action as we head in to 2018. Safe trading!
Minor
Moving nicely to start Wave 2 Minor within Wave 3 intermediateFBR Fastbrick Robotics (FBR:ASX) Moving nicely LONG on Intermediate Period with a start SHORT for Wave 2 Minor within Wave 3 intermediate.
A good entry point for this stock will be on the completion of Wave 2 on the Minor period to go LONG
Reference to my previous chart here:
15th August 2017: Fastbrick have announced, Robots to assist building homes in Saudi Arabia, which has driven the price of this stock to a high of almost 0.30, thus developing a Wave 3 on the minor period inside a Wave 3 within an Intermediate period.
Twitter Announcement here: twitter.com
ASX Announcement here: www.asx.com.au
Other Media here: thewest.com.au
----------------------------------------------------------------------------------------------------------------------------------------------------------
DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out.
.....::::: If you like this chart, please click on the THUMBS UP ! :::::.....
----------------------------------------------------------------------------------------------------------------------------------------------------------
XAUUSD: Gold Spot: near term rally within medium term downtrendGold has broken down and should hit 1201 next week. But in very near term it's staging a minor rally within what is now developing into a medium term downtrend. Levels to watch today. PLEASE check CRB index comment if you trade Gold. It will help you understand and stay on the right side of the bigger picture...
TGT Target 100% confirmation of Wave 3 Impulse going SHORT !It seems we have a 100% confirmation of TGT (Target) going SHORT on a wave 3 on Intermediate, Minor and Minute Periods. MACD, RSI and Stochastic all show oversold positions and we shall see on next open of market, how far down the price action gap will take us before we see an upwards move on a correction because continuation of downwards Impulse move. SMA also indicates bearish trend continuation.
This is a Very Dangerous sign for Target as this impulse is on an Intermediate period, which means if it continues this way, the stock is headed downwards very fast. A great SHORT opportunity here is at the breakout of a Fibonacci move, for some significant profit. I shall now await for a corrective structure to form within the Wave 3 move, to then take a short on this, all the way to the bottom of wave 5.
----------------------------------------------------------------------------------------------------------------------------------------------------------
DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk.
Plan your trade and trade your plan... and IF in doubt, stay out.
.....::::: If you like this chart, please click on the THUMBS UP ! :::::.....
----------------------------------------------------------------------------------------------------------------------------------------------------------
NZDCHF BEARISH BUTTERFLY and BULLISH CYPHER LONG? SHORT?Identified 2 Advanced patterns on the NZDCHF.
Purple Triangles represent a BEARISH BUTTERFLY(Completed)
Blue Triangles represent a BULLISH CYPHER
Clearly we are now stuck at an impasse, to go LONG or SHORT, that is the question.
Taking a step back to the 1D time frame, we can see that price has moved in a pennant formation ( grey lines) While it is not within my trading plan to utilise such price patterns, a price breakout to the up/down side is known to follow the termination of a pennant. Thus, we know that SOMETHING is BOUND to happen, but which direction will it go?
Based on the 1D and 1W time frame, this pair seems to be in a downtrend, so i would be entering on the BEARISH BUTTERFLY. However i have yet to refer to the fundamentals such as the COT report and/or Currency Strength Meters.
Thus my current verdict would be to short this pair