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Patterntrading

EURCHF 4hour 12/8/18EURCHF Short idea Higher timeframe analysis shows strong bearish movement in this pair as well as good structure formation as price action has rejected the daily 38.2% fib level Taking a closer look on the 4 hour timeframe we have seen higher lowers being broken and lower highs forming which suggests more bearish volume is coming Based on 4hour fibs we’re looking for price action to keep pushing lower from the current level and/or retest the 4hour 38.2% fib level around 1.09640 From this area we’re looking for bearish setups to then target toward the -27.2% fib level around 1.09000 and potentially even lower toward our next major support levels
Short
by ForexLeague
AUDUSD 4hour Analysis 12/7/19AUDUSD Long idea Higher time-frame analysis on the monthly and weekly show strong bearish movement, however, price-action is very over extended and is yet to form structure on said time-frames When looking at the daily time-frame we see that price action found a bottom near 0.67000 and has been in a bullish trend since. The 4 hour time-frame shows a strong bullish push followed by consolidation in the form of a symmetrical triangle which suggests more bullish volume to come. Upon a break of the triangle we will look to target toward the relevant higher time-frame trend line near 0.69000 followed by a second target of the 61.8 daily fib level around 0.69300
Long
by ForexLeague
AUDJPY 4Hour 11/30/19AJ Short Idea AJ is still quite bearish on higher time-frames and we have seen a daily transition happen where support was broke and is now being tested as resistance Current price action has been consolidating in an ascending triangle near resistance and we will be looking for strong bearish setups next week before entering short and targeting lower Upon confirmation we are looking to short toward the 23.6% fib level and trend line around 73.200 which is about 90+ pips lower from current price action
Short
by ForexLeague
EURCHF DAILY 11/30/19EURCHF LONG IDEA Higher time-frame analysis shows the EURCHF has been majorly bearish but is quite over extended. On the daily timeframe we have seen a bit of a bullish trend and we expect price action to reach the daily 38.2% fib level at least If the 38.2% is broken we’re going to continue with this daily trend and target the monthly resistance, broken structure & 50% fib level around 1.11500 which is about 120+ pips from current price action If we see significant rejection from the 38.2% fib level with strong bearish setups we could see price action push toward the bottom of the current range around 1.08500
Long
by ForexLeague
NZDCAD DAILY 11/30/19NZDCAD LONG IDEA NZDCAD has been very bearish on the higher time-frames but we have seen a bit of a bullish trend on the daily. We can see that the weekly resistance level around 0.85000 was broken last week and price action is currently consolidating. Although we see a lot of exhaustion on the daily there is bullish pressure still present. On a 4hour time-frame we can see that this area is consolidating in a range and has formed a rectangle. We will need to see some conviction and this range broken but ultimately we are looking to target higher The daily 61.8% and monthly resistance around 0.86400 is going to be our target which is about 115+ pips higher from current price
Long
by ForexLeague
XAUUSD (GOLD) Daily 11/30/19GOLD LONG IDEA Gold is still very bullish on most higher time-frames, however price action currently retraced to the daily 38.2% fib level where we are seeing a daily double bottom form To confirm a bullish continuation we want to see a break of structure at 1477.50 followed by a retest of that same level. Some strong bullish setups pushing price action up and out of this zone would be enough confirmation a long We’re looking to target our monthly resistance and daily 0% fib level around 1550-1560 area
FX_IDC:XAUUSDLong
by ForexLeague
NZDUSD DAILY 11/30/19NZDUSD SHORT IDEA We’re still looking bearish on this pair and it has been consolidating in the current price range near the daily 38.2% fib level All last week NU has been ranging within a rectangle pattern and we are currently waiting for conviction At the current price zone there a little bit of confluence: the daily 38.2%, major resistance, broken monthly structure which is now acting as resistance For us to confirm a sell we need to see some strong bearish movement from this level. Ideally a bearish engulfing down and out of this rectangle and through the moving averages would be perfect. We’re looking to target toward our weekly support around 0.62750 which is about 140 pips lower from current price
Short
by ForexLeague
EURCHF 4hour Analysis 11/24/19EURCHF Short Idea Although higher time-frames show us this pair has been in a strong bearish trend we have been trapped in a giant range between 1.10500- 1.08400 area and have not moved outside of these areas in a long time. However, current price action looks to be establishing a lower high and could find it’s way back down to the 1.08400 area My reason for this is because on the daily timeframe we have multiple candles showing us exhaustion and on this 4 hour time-frame we can see an ascending wedge forming at the top of a bullish push. This often suggests a bearish push is imminent but we will watch and see what happens at market open. Ideally to enter on this setup we would like to see a strong bearish engulfing candle push down and out of this pattern and through the three moving averages. Then a quick retest of the moving averages would be decent confirmation to enter and target lower.
Short
by ForexLeague
2
XAUUSD (GOLD) 4hour Analysis 11/24/19Higher time-frames have been very bullish for gold but the daily trend has been in a slight downtrend presumably from the steady dxy bullish trend. Last week we saw gold test our daily 38.2% fib level and pushed up to test resistance/structure at 1477.50 where it failed to break and push higher. After that test we have been seeing strong bearish setups indicating that there is bearish pressure still present, we will look to target the 38.2% once more around 1450.00-1447.00 and see what the market tells us once price reaches this area!
FX_IDC:XAUUSDShort
by ForexLeague
(USD) DXY Daily Analysis 11/24/19As we have known for a while DXY (USD) has been steadily bullish and recent price action from last week has confirmed this trend is not yet over! We saw a double bottom form around 97.15 and price action pushed higher breaking minor resistance and tested it as support before pushing up again with a high volume bullish candle. Our next minor level of resistance is around 98.40 (blue line) which if broken we could see price action push up toward our higher time-frame resistance level, our monthly zone around 99.50. Keep this in mind for all USD pairs, this thing is bullish so trade accordingly!
TVC:DXYLong
by ForexLeague
NZDCAD Daily Analysis 11/24/19Higher timeframe analysis for NCAD has been more bearish but on this daily time-frame we have seen a strong bullish trend that is not quite ready to drop. Last week the major weekly resistance level was broken and is now being retested, price action also failed to reverse at our 38.2% fib level so we will look toward our next key fib level, the 61.8%. If we see strong bullish setups off this weekly support we will look to target toward the 61.8%, monthly resistance and 200 ema around 0.86350 which is over 120+ pips away. Be careful around that confluence area as it is an important zone that may show bearish volume and favor the overall higher time-frame bearish trend!
Long
by ForexLeague
USDCHF Daily Analysis 11/24/19USDCHF Long Idea This pair has been bullish on higher time-frames but has been recently trapped in a daily range between 0.98500 and 0.99000. Sticking with the trend our bias will remain bullish but we will only look to enter after resistance at 0.99000 has been broken and retested as support. Look to enter after the 38.2% has been tested and price action shows strong bullish setups, we will target the daily resistance level around 1.01000 about 100+ pips up!
Long
by ForexLeague
NZDUSD Daily Analysis 11/23/19NU Short idea This pair has been holding a steady bearish trend on high time-frames. At the current level we have seen multiple rejections from the major resistance zone & daily 38.2% fib level around 0.64400 which means that a strong bearish move could be imminent. For us to have enough confirmation we always look for bearish setups but in this scenario there are two relative minor support levels we want to see break (in blue). A break of the first support level will confirm the first broken higher low, ideally after that has been broken a retest followed by strong bearish setups will give us confidence to short to the next support level around 0.63250. Once this level has been broken that will confirm a break of a higher time-frame lower high in which case this thing is more than likely to dump! We’re looking to target our weekly support around 0.62750 which is about 125 pips from where price current is!
Short
by ForexLeague
NZDJPY Daily Analysis 11/23/19NJ Short Idea The overall trend on higher time-frames have been steadily bearish. Recent price action on the daily has been trapped in a range between the daily 50% and 38.2% fib levels. In favor of the trend we’re looking for NJ to push lower and break the range and monthly support, when this happens we want to see a retest of broken support turned resistance with significant bearish setups before we can enter short and begin to target lower support levels. If momentum is strong and the lower trendline is broken we will be targeting the next significant support level around the 67.00 area which is also around the 0% fib
Short
by ForexLeague