BULLISH CONTINUATION PATTERN SPOTTED IN NINJANINJA ALREADY FORMED a bullish continuation pattern as we can see today there's a descending broadening wedge (DBW). Some people may assume that the DBW is a part of CUP AND HANDLE pattern, nothing wrong about it.
THE SPECULATIVE setup would be around 50% Fibonacci Retracements measured from latest Swing Low to the current High (I assume it gonna form a swing as the price already hit the resistance area). We can wait for a resistance breakout too as its confirms the DBW pattern.
October2019
GBPNZD / H1 / Daily Forex Technical Analysis / 10.24.2019Hello Traders, welcome to the Daily Forex technical analysis. Today is October 24th, 2019 and we will be taking a look at the British Pound against the New Zealand Dollar. Looking at the 1 hour time frame we are looking for price action to hold above the trend line acting as support the 2.016 region. If we can continue with a bullish follow through and stay above the trend line and our stop loss we will be looking for an entry long. Entry for a Long position near the 2.01664 area, with a Stop Loss near the 2.00326 zone, and a target profit level area of 2.03497, could possibly ensure a profitable trade with a 1.37 to 1 R/R. Thank you for tuning in please feel free to write a comment or leave some feedback, any advice is greatly appreciated. Have great day and good hunting out there traders!
NZDJPY / H1 / Daily Forex Technical Analysis / 10.23.2019Hello Traders, welcome to the Daily Forex technical analysis. Today is October 23rd, 2019 and we will be taking a look at the New Zealand Dollar against the Japanese Yen. Looking at the 1 hour time price action is nearing it's previous area of resistance at the 69.6 region, if we continue to move upwards moving back above the trend line and our stop loss this would negate our analysis. If we fail to break above this resistance at the 69.6 area we will be looking for an entry short. Entry for a Short position near the 69.587 area, with a Stop Loss near the 69.820, and a target profit level area of 69.016 for what can possibly be a profitable trade with a 2.45 to 1 R/R. Thank you for tuning in please feel free to write a comment or leave some feedback, any advice is greatly appreciated. Have great day and good hunting out there traders!
AUDJPY / H1 / Daily Forex Technical Analysis / 10.22.2019Hello Traders, welcome to the Daily Forex technical analysis. Today is October 22nd , 2019 and we will be taking a look at the Australian Dollar against the Japanese Yen. Looking at the 1 hour time price action is nearing it's previous area of support at the 74.3 region. If we can touch this support area and hold it and not break below our stop loss we will be looking for an opportunity to enter the market long. Entry for a Long position near the 74.342 area, with a Stop Loss near the 74.172 region, and target profit level area of 74.732 to possibly ensure a profitable trade with a 2.29 to 1 R/R. Thank you for tuning in please feel free to write a comment or leave some feedback, any advice is greatly appreciated. Have great day and good hunting out there traders!
THERE'S ONLY TINY SPACE ON LOONIECOMPARED TO ANOTHER pair, the range on LOONIE is not really interesting. It's likely form a rectangle pattern and I assume the next move will be down as shown on the weekly chart that the rectangle is formed below EMA's.
The price will likely make a pullback before the price continue drop, even though the range is not really appealing but the movement is pretty clear for me.
XAU/USD IS LIKELY FORM AN A-B-C CORRECTIONON THE DAILY CHART, we can see that has a chance to forming an A-B-C Correction in a descending channel. The current count is assumed by 5-3-3 corrective wave. The support area were assumed with Fibbonacci retracements.
The wave count (up and down) were based on Gann time Projection and could be adjusted if the price movement didn't respect the common time ratio of XAU/USD
IS BEARISH CORRECTION ON GBP/USD GONNA FORM A HARMONIC PATTERN?STERLING MAKE A MASSIVE MOVEMENT LAST FRIDAY
Not just on GBP/USD, all GBP is going stronger that maybe not many people can expect it (except who used an Elliott Wave Count). The movement is really crazy and it's flying right to the 200 EMA's. Some people knew that 200 EMA's has a function like a dynamic Fibonacci as it be a support resistance levels too.
I ASSUME that GBP/USD will make a huge corrective movements and forming a bullish harmonic pattern in Week III and IV OCT 2019.
EURAUD / H1 / Daily Forex Technical Analysis / 10.14.2019Hello Traders, welcome to the Daily Forex technical analysis. Today is October 14th, 2019 and we will be taking a look at the Euro against the Australian Dollar. Looking at the 1 hour time we are now looking for price action to find support with this minor pullback at the 1.626 region after breaking above resistance and flipping bullish. If price action can hold this area of support we will be looking for an opportunity to go long. Entry for a Long position near the 1.62625 area, with a Stop Loss near the 1.62268 zone, with a target profit level area of 1.63460 to ensure a profitable trade with a 2.34 to 1 R/R. Thank you for tuning in please feel free to write a comment or leave some feedback, any advice is greatly appreciated. Have great day and good hunting out there traders!
EURNZD / H1 / Daily Forex Technical Analysis / 10.10.2019Hello Traders, welcome to the Daily Forex technical analysis. Today is October 10th, 2019 and we will be taking a look at the Euro against the New Zealand Dollar. Looking at the 1 hour time frame, we are looking for price action to pullback into it's previous area of resistance at the 1.74 area. If price action can pull back into this resistance region and reject it we will be looking for an entry short. Looking for an entry Short near the 1.74768 area. With a stop loss at the 1.74988 region, with a target profit level area of 1.74125 to possibly ensure a 2.9 to 1 R/R. Thank you for tuning in please feel free to write a comment or leave some feedback, any advice is greatly appreciated. Have great day and good hunting out there traders!
EURUSD / H1 / Daily Forex Technical Analysis / 10.9.2019Hello Traders, welcome to the Daily Forex technical analysis. Today is October 9th, 2019 and we will be taking a look at the Euro against the U.S Dollar. Looking at the 1 hour time frame, price action has broken a key level of support breaking down through it at the 1.09 region and now action as resistance. If price action continues with it's bearish sentiment and doesn't break up back above the 1.09 resistance area we will be looking for an optimal short entry. Entry for a Short position near the 1.09674 area, with a Stop Loss near the 1.09876 region, and target profit level area of 1.09402 to possibly ensure profitable trade conditions with a 1.35 to 1 R/R. Thank you for tuning in please feel free to write a comment or leave some feedback, any advice is greatly appreciated. Have great day and good hunting out there traders!
CADJPY / H1 / Daily Forex Technical Analysis / 10.7.2019Hello Traders, welcome to the Daily Forex technical analysis . Today is October 7th, 2019 and we will be taking a look at the Canadian Dollar against the Japanese Yen . Looking at the 1 hour time frame we can see price action has attempted to reach its previous area of resistance at the 80.7 region, but failed to make bullish continuation at this zone. We will be looking for an opportunity to find a short with optimal conditions to execute a proper trade with manageable risk. Entry for a Short position near the 80.687 area, with a Stop Loss near the 80.850 region, with a target profit level area of 80.307 to possibly ensure a profitable trade with a 2.33 to 1 R/R. Thank you for tuning in please feel free to write a comment or leave some feedback, any advice is greatly appreciated. Have great day and good hunting out there traders!
NZDCAD / H1 / Daily Forex Technical Analysis / 10.4.2019Hello Traders, welcome to the Daily Forex technical analysis. Today is October 4th, 2019 and we will be taking a look at the New Zealand Dollar against the Canadian Dollar. Looking at the 1 hour time frame we are looking for price action to possibly pullback into the .8427 area and retest this area of resistance. If we do get a pull back and price action doesn't S/R flip and turn bullish at the .8427 region we will be looking for an optimal entry short. Entry for a Short position near the .84276 resistance area, with a Stop Loss near the .84468, and a target profit level area of .83800 for what can be a profitable trade with a 2.48 to 1 R/R. Thank you for tuning in please feel free to write a comment or leave some feedback, any advice is greatly appreciated. Have great day and good hunting out there traders!