The dollar has been in a weak uptrend for the past few hours so I decided to take advantage of some indecision at a high. Price presented a shooting star on the 30minute chart as well as a strong bearish engulfing on the 5min at the exact area needed for a short. This area is exactly where price closed at then was immediately rejected on last Friday (6/23). This...
UJ is still in its major uptrend as price continues to create strong higher highs and indecision lower lows. I took a buy based on the 30min structure. My target is the next daily resistance level. I believe that buying at a higher low off of a retest is a valid opportunity. Especially after a volume bullish engulfing candle.
This pair has been retracing for a few days now. I believe that after Wednesday's close, price is very close to reversing. The presentation of an indecision candle on top of a major support and between the 23.6% and 38.2% fib, signifies that momentum is slowing down for bears. I would wait for more bearish activity during following hours, and potentially for...
EURUSD is bullish in all aspects of the form. It took a small double bottom to confirm the major Double bottom on the daily. ADX is bullish during the latest high. Price may proceed to retrace to retest the daily support as it was previously rejected. I will buy upon a bullish reversal on top of support.
I believe EURUSD is reversing as it formed its first higher high within this consolidation range. ADX was not bullish during this move, however structure was broke. I will look to capitalize on any breakout. I have a zone marked at the bottom of the zone as the daily has formed two bullish reversal candlesticks along with volatility at support. Currently price is...
I decided to display how I mark up my charts. I will be trading EURUSD going forward. I intend on leaning closed into naked trading as I don't use many indicators.
Ethereum is on its journey of creating many higher highs along with bullish reversal candlesticks to initiate the move. The Daily has retraced to a key level on the daily chart. This is our first signal to go long. A morning star on top of structure and support. The 4H chart will inform us on whether price is still retracing bearish or if its time to get in long NOW.
UJ has been bulling very hard as of lately. With the never ending rate hikes pushing up the price of the dollar, and many foregin countries defaulting on their national debts, it is midnight in lots of places but it seems Powell is still squuezing everything he can out of the dollar. Technically speaking we see here a very nice looking rising wedge type pattern...
Daily Analysis - AUDUSD - Smart Money Concepts - Institutional Order Flow Daily: s3.tradingview.com 4hr s3.tradingview.com s3.tradingview.com
Our USDJPY bear swing paused about 300 pips ago and created a temporary bottom from which we took short term buys from After a nice run of 200+ PIPS we are EXIT the shorts. Now USDJPY should resume its bear swing on the route to new lows. From a technical aspect this retracement has come up to retest the overall trend at the 38 Fib level. Normally I would be...
Here it is Folks, the moment we have all been waiting for After months of testing and retesting the upper bounds of the 1.24 area. it appears that CABLE has broken out and will now begin a very solid and consistent BULL SWING. Looking forward to buying and buying again on every dip. Fundamentally this is being set up by the incoming US recession and data...
GBP/USD looks as if some weakness is creeping in to the chart. On the smaller timeframes we had a TEST of the resistance at 1.235 area during large session volumes, followed by a subsequent retest where it looks as if buyers are exhausted, as they have failed here to push above the resistance during multiple sessions. Looking for volumes to start pulling CABLE...
USD/JPY bear swing was absolutely beautiful, but we are not done yet Usdjpy has a looooong way to drop still, the impending US recession is not going to be pretty and the moment the market gets a single whiff of hawkish-ness from the BoJ, this pair will sink to the bottom of the ocean like ATLANTIS In the mean time however it looks as though the bear swing has...
Japanese Yen is nearing a crucial point of FIBO level 61 This level can be see as a pivot point for price action many times over and over again The yen fundamentally is in a 20+ Year run of Qualatative easing and negative interests rates The new BoJ Ueda seems very reluctant to use any type of terminology that leads one to believe that a swift change is on the...
Our cable trade from several days ago is playing out BEAUTIFULLY lets see if we can get some SUPPORT STRUCTURE tomorrow with CPI Hopefully anyone who missed out can get in before the main rally
Here we see USDJPY in its final push upwards. As we can see by the chart 138.00 is a very significant level for TWO reasons 1. It is a major FIBO level that is retesting the overall DOWNTREND that we are on from a WEEKLY perspective, this has been a necessary retracement to the massive downward trend that we had begun late last year. 2. It is the 1.6 FIBO...
After several weeks of Price action consolidating on CABLE inside of a DESCENDING WEDGE and forming several HARMONIC PATTERNS it appears as though we finally have a winner between the bulls and the bears. Based on the price action a bottom has been formed and a breakout of the WEDGE PATTERN has occurred. Assuming this is a STEP ONE BREAKOUT and a total reversal of...
Here we have a textbook example of consolidation aka sideways trending. This is made clear by the triangle pattern before price broke out this morning. Following that we've had the break of a swing low (by that I mean a candle that reached/wicked lower than it's neighbours on either side). The spike that broke out of the sideways trend to the upside triggered...