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Multipletimeframe

Dollar: Final of the Final WaveIf we follow the basic of Elliott wave, the dollar is already forming its 5th motive wave in the weekly timeframe. Last week, the dollar fell into a consolidation in the midst of the 5th motive wave. Apparently, this is the 4th corrective wave in the H4 timeframe and that means it will be forming its 5th motive wave very soon, probably this coming or the following week. Therefore, we could look to resume selling the dollar this week as long as the price pulls back to the upper band for a higher price to sell. P.S. This entire bearish wave could just be the beginning of dollar's downfall due to the breakdown of a near 10-years rising trendline.
TVC:DXYShort
by AlgoVenture
AUD JPY is preparing for a massive drop - Trade SetupHi Traders, The daily chart indicates we are still in a sellers market and the uptrend in the lower timeframes are actually a pullback move. The major resistance is at 76.748 - 76.218 (yellow zone) levels. The hourly chart indicates we have a minor resistance at 75.954 - 75.858 (Blue zone). This level can be used for short term scalping trades. Now coming down to the 15min Chart, we have an outer trendline and an inner trendline. Since the major trend is down we recommend looking for sell positions. The break of the inner trendline can be used to enter a short position and can be held till the hourly chart touches the 50 SMA with the Stoploss maintained above the blue zone. Another Short setup can be the break of outer trendline. For queries pls comment Below..... Happy Trading...
by Hari_krishnan_S_Kumar
3
EUR\USD New York Breakout I'm staying with my bullish bias on eur/usd as the dollar is clearly getting weaker by the day. Today's Fed minutes will probably cause some short-term volatility spikes so I will be cautious if I am still in the market at that time, other than that the calendar is light today so overall market sentiment is what I will be paying attention to today for direction. Now the fun part, I see on the 15 min chart that no major upside or downside movements were started during the first half of the London session so this short-term range provides a good opportunity to look for a breakout play when North American markets open and more volume comes in.
Long
by charlieb410
USDCAD - Expecting a Consolidation - Another Trendline BounceHi Traders! The market is in a Downtrend. As always, let's begin with the daily Timeframe: You can see a descending Wedge (with one bearish Fake out). Consider the distance between the Trendlines: It is getting tighter and tighter. Because the market has fallen very much and reached now an Area of neutrality, we expect a consilidation now. Let's move on to the next Timeframe: The price is now at the lower Trendline. It is bouncing back from upwards it to reach the other side. Because the market is in a Downtrend, we don't recommend to trade the Upmovement towards the upper Trendline. We will trade the bearish Bounce from the Trendline. Let's move to the Entry Timeframe: Here we see an orange box. We call it the "Area of Concentration". We're here waiting for a Trend Reversal Pattern. This could be the Engulfing Pattern, a Doji-Pattern, etc. We recommend to trade the pair patiently, because it is a Longterm-Analysis. Thanks and successful Trading :)!
Short
by swissmoneymakers
Rock Companies IncI should have published about this asset a day or so ago. I've actually been tracking it since it's inception, but I will say that there might be an opportunity presenting itself soon to invest at (or near) the opening price. I'll be paying attention to Price Action to leave the necessary clues needed for me to react. Yesterday's P.A. had breached a level ($20.31) and today it's below it so that opening price is starting to look even better to me. We shall see..
NYSE:RKT
by ChrisJTradesFX
6