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Patterntrading

EURJPY Daily Analysis 1/5/20EURJPY Long Idea This daily time-frame has been very bullish and is looking to continue this trend. Let’s keep in mind that the weekly and monthly time-frames are bearish On the daily we can see price action has pushed back down into the range between 119.500 - 120.000 Before we can enter a trade and continue with this bullish trend we need to see a break and retest of 120.000 with plenty of confirmations We are looking to target toward 123.000 once we have identified significant confirmation
Long
by ForexLeague
AUDJPY 4hour Analysis 1/4/20AUDJPY Long Idea On the daily and 4 hour time-frame we can see that AJ has been very bullish however, on the higher time-frames price action shows to be very bearish Continuing with the most current trend we’re looking for long setups until we see a significant transition (break of a higher low) then our bias will change At the current support level we can see that we have a 100% fib retracement and from here we’re looking for strong bullish setups before we target higher.. Our target for this pair will be our major resistance level around 77.000 and our -27% fib level
Long
by ForexLeague
DXY Daily Analysis 1/4/20DXY Short Idea The overall trend on higher time-frames is very bullish however, the recent daily trend has been bearish. We also have been experiencing negative news surrounding the USD which supports further bearish movement On the chart we’re looking for a retest of broken support followed by strong bearish setups to then target lower. We are looking to target our daily support level around 96.00 followed by a second target around our monthly support at 95.00
TVC:DXYShort
by ForexLeague
AUDUSD Daily 12/29/19AUDUSD Long Idea All time frames above the daily are very bearish On the daily time frame we have seen a bit of a bullish trend which is likely a higher time frame retracement. Last week price action broke back into this range and is looking to reach the next resistance level around 0.70300 Ideally we want to see a test of support, 38.2% level, and bullish setups around 0.69300 which would be perfect to enter on and then target toward the top of the range.
Long
by ForexLeague
EURCHF 12/21/19 Daily AnalysisEURCHF Short Idea Higher time-frame analysis shows that price action has been very bearish and seems to be continuing the bearish trend on the daily Here we have seen a confirmed rejection of the 38.2% fib level and now lower highs are forming consistently. We are now looking to enter short on this pair as it has dropped out of the pattern and looks to be heading south Ideally a retracement to broken structure and a key lower time frame fib level would make for a great short opportunity
Short
by ForexLeague
AUDUSD 12/21/19 Daily AnalysisAUDUSD Neutral Idea On high time frames we can see that AU is very bearish and is currently approaching a key resistance level around 0.69250 which is also a daily 61.8% fib level I would like to see how price action reacts at this level before making a move. Ideally for a long setup we would like to see resistance broken and retested as support If we are to continue with short setups strong rejection from this level would be perfect for us to then enter on. Either way, we are waiting for confirmation
by ForexLeague
USDCAD 4hour 12/15/19USDCAD Short Idea Higher time-frames show that price action has been ranging within the 1.33500 - 1.30000 area and has yet to make a break to the up or downside On this daily time-frame we have been seeing lower highs forming and price action is once again heading toward support at the bottom of the range For us to target lower a break and retest of 1.31450 would be ideal and the drop to 1.30000 would become very likely However, if we see price reverse at 1.31450 it would need to break 1.31930 to start the transition to the upside on this time-frame
Short
by ForexLeague
EURJPY Daily 12/15/19EURJPY Short Idea Higher time-frames have been very bearish and have held a steep downtrend for over a year Currently on the daily timeframe we have seen a large retracement to the 88.6% fib level which has left a huge 100 pip wick after news last week Price action is resting at the weekly level around 121.500 where we are waiting to see if this push will sustain or if it will fall back into the range and begin to push downward once again If we see price action fall and retest the weekly level we are looking to target toward our lower trend line near 119.600 and major support level. This drop will be about 180+ pips
Short
by ForexLeague
XAUUSD (GOLD) Daily 12/15/19Gold Neutral Idea Higher time-frames suggest Gold is still bullish but on the daily time-frame we are still within this range between 1477.50 and 1450.00 There is no real direction as of yet while in this range but we are ultimately looking for a break to the upside when the 1477.50 resistance level is broken Long term I think gold will continue it’s bullish trend up to 1560.00 area but for now we are holding at key support around the daily 38.2% fib level
FX_IDC:XAUUSDLong
by ForexLeague
DXY (USD INDEX) Daily 12/15/19DXY Long idea Last week we saw huge bearish volume from news that pushed price action out of this range on the daily time-frame but price action formation now is showing a bullish engulfing which is displayed as a HUGE weekly time-frame wick The overall trend on higher time-frames is steadily bullish and it is right to assume a continuation of this trend. If we see a break back into this range with a confirmed retest of broken resistance turned support we will continue to target long for the USD Potential to reach 98.00 - 98.500 area
TVC:DXYLong
by ForexLeague
EURCHF Daily 12/15/19EURCHF Short Idea This pair is still very bearish on higher time-frames. Price action rejected the daily 38.2% fib level and has been forming lower highs. Last week we saw a surge in volume from the bulls after news followed by quick rejection leaving a giant daily wick, this clearly shows huge bearish volume is present Ideally we would like to see a break and retest of this pattern and the lower trendline before we can target lower Upon a break and retest we will look to target toward the 0% daily fib level which is around 100-110 pips lower If price action continues to push down we are looking to target our major weekly support level around 1.06750 which is about 240-250 pips lower
Short
by ForexLeague
AUDUSD 4HOUR 12/15/19AUDUSD Short idea Higher time-frames still suggest a bearish trend but last week we saw price action push up to the daily 61.8% fib level and major resistance following news The test of the 61.8% fib level is the second time price tested and has shown significant rejection from this level We are currently looking for more bearish setups to present themselves early in the week before we can begin targeting lower. Our targets will be the lower trendline around 0.68000 which us about 70-80 pips lower. Upon a break of this trendline we will target the 0% fib level near 0.66800 which is around 190-200 pips lower
Short
by ForexLeague