Looking for a potential reversal pattern to trade to the upside. Keep an eye out for a breakout from the trend channel.
Price has closed outside long term bearish trend channel on the daily and 4 hour. Looking to enter upon price retest of key level.
Since the USD has seen stronger gains last week, and the long term macroeconomic outlook for the US is of further growth and therefore strength of the USD, we could be seeing a generalized comeback to the uptrend in the USD and the downtrend in GBPUSD. Im biased to a short on the GBPUSD specially since the UK is growing at 0.6% and the US at 1.9%. --- Sources...
USDJPY has broken trendline again, back into a minor uptrend (requiring higher-low confirmation). Trade Setups: 1. Break green trendline upwards towards R1 2. Break pink trendline lower towards S1 We await confirmation of breakout and then follow that trendline.
EURUSD is currently trading within a Potential Reversal Zone (Major support level). We expect price to turn bullish in the near-term before hitting our TP 1, which is a resistance level. If price was to break further through the green trend line, we would expect it to move towards TP 2. If price does not break TP 1, we expect it to continue on its downtrend...
A very powerful bearish engulfing candle formed today on EUR/USD. There seems to be an overall bearish sentiment forming on all Euro pairs. This signal looks nice forming below resistance at (1.4400) and being significantly more powerful then any of the consolidation we have seen over the past week or so. Looking for a tight 1:2 RR if possible, but playing this...
Tidy little hightest candle on some strong resistance which on the intraday charts is setting up a nice right shoulder to complete a head and shoulder pattern. Lots of room on my stop stop loss to leave room ahead of NFP. - Perfect hightest candle on 1D - On resistance on 1.4400 - Head and shoulder pattern on 4hr - With trend - 1:2.75 RR - Hybrid trade - Safe...
A great bearish engulfing candle formed on a nice retest of a long term bullish trend line after breaking through back on 03/17/16. Intraday charts showing bullish pressure being broken down and the bears completely taking over. Easy 1:1 RR to the recent lows and from there price could dip all the way to 106.00 for closer to 5:1 NFP coming up can stir up some...
Strong Beairsh engulfing candle breaking past 4hr chart phase line on AUD/JPY. Add to that this happening on both strong resistance and long term bearish trend line, it's a match made in heaven. - Bearish Engulfing Candle 4hr - Rebound of long term bearish trendline - On strong resistance at 86.500 - Lots of room for good RR
Great little naked price action set up on EUR/CHF - Perfect low test candle - Previous low test candle on 4hr chart and already reacting - Testing key support of 1.0900 - Testing Long term bullish trendline from April 2015 - 60% Fibonacci retracement - Looking like a daily close above daily open will happen - With trend Clean targets at 1.10000 and then at...
Not the cleanest, but still a convincing naked set up on AUD/USD. Nothing is better then price reacting to the intersection of key support/resistance and a long term trend line. My favorite set ups! - Price stalled out at key resistance of (0.76000) - Bearish engulfing candle 1D - Double top Pattern (4hr) - Bouncing off long term bearish trend line - Aligned with trend
Since late January, USDCAD has seen a significant counter-trend move to the downside after a sizable bullish run. On it's way down, price briefly found support at the 1.3390 handle (the first blue box) before breaking through it shortly after. After breaking through to the downside, this level got retested twice (the next 2 blue boxes) and met significant selling...
Just checking up on my charts for the week and after the close for the weekend before we got a tidy set of tweezer tops on some strong resistance on 1.3000. I'm only going to look for a 1:1 RR on this trade because I'm going counter trend on this as we've just had a breakout past the long term bearish trend line shown. Looking for price to retrace back down to...
Just checking up on my charts for the week and after the close for the weekend before we got a tidy set of tweezer tops on some strong resistance on 1.3000. I'm only going to look for a 1:1 RR on this trade because I'm going counter trend on this as we've just had a breakout past the long term bearish trend line shown. Looking for price to retrace back down to...
EURUSD has formed a series of impulsive and corrective moves that shows us exactly how much power the bulls currently possess. To clarify, impulsive moves tend to be "strong and fast" while corrective moves tend to be "weak and slow". This directly correlations to the strength of each party's hand. The bulls are in control right now. The push from the bulls are...
Within a steady uptrend, price initially struggled to break above the 38.5 level. However, the immense bullish pressure resulted in a breakout to the upside and a brief intraday pullback shortly after. Price preceded to create a new high and has pulled back to that same role reversal level (now support). It has formed a notable reaction hinting at potential...
Price has left the consolidation zone that's been going on for some time, and if it manages to come back to the 0.97347 zone then we could expect some evidence for a last kiss trade