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Ranging

Long term Aussie IdeaIn June 2013 (Green circle) price broke below the 200 EMA and an important support level 0.9650. Price made a low and retraced back up to retest this key support now turned resistance in October 2013 - failing to break above this level and creating a lower high. Since then, price has been in a downtrend creating lower highs (yellow box's) and lower lows (blue box's.) For a nearly a year now, price has been consolidating between two levels - 0.7750 resistance and 0.7150 support (highlighted by red box.) Right now I am neutral. I do expect price to reach 0.7750 very soon of writing this. Afterwards price can either break out of our 0.7750 resistance or it could reverse back down to the 0.7150 support. If price breaks our 0.7750 resistance - I am bullish. First target would be 0.8050 - 0.8100 (300-350 pips.) This is due to the price in June 2015 failing to break our 0.8050 support turned resistance - creating a lower high (yellow box.) Also if you apply a fibonacci retracement tool. From the low in January 2016 (A) to the high in mid April 2016 (B) - price has stalled twice at the 61.8% support level (C) first at the end of May 2016 and second at the end of the 2016 year (double bottom pattern). D1 extension -27% is 0.8100 which lines up nicely with the resistance levels mentioned. If the 0.7750 resistance level holds and we see a reversal, I will be bearish. First target will be the 0.7150 support. If this support is broken - second target will be 0.6850 - 0.6900 as price has stalled at this area in late 2015. If price breaks this 0.6850 support, next target will be 0.6000 - 0.6250. This is because price found this support back in late 2008 / early 2009. Also if you apply the fibonacci retracement tool from the high in May 2015 (A) to the low in January 2016 (B) - price has been stalling and failing to break the 61.8% resistance level (C). D2 extension -61% lines up perfectly with the 0.6000 support level. My overall bias on this pair is BEARISH as price has been in a downtrend since 2013 and it is advised to trade with the trend - not against it. I believe the 0.7750 is a lower high level and price could see 0.6000 area creating new lower lows (if 0.6850 support is broken.) Also fundamentals hinting USD strength in 2017 as there are rumoured rate hikes from the federal reserve which strengthen the USD which will cause this pair to fall in price. Again we will have to wait and see what price does around the 0.7750 resistance. Break or bounce. Be patient and ready to execute either way.
by TmTRADES
UK100, what's next?Hello guys! happy new year. UK100 indice is printing a nice range here and as we can see, it's at a very important point. Break or reversal? Our 2 most important questions. AS usual, we're not the one to decide, so let's watch it and see what the market will decide in the next coming candles. As for a personal analysis, I bet for a reversal. Price is at the resistance, we have a doji candle and not much volume in the market for price to break the 3 months high. Still, let's wait for the upcoming candles.
OANDA:UK100GBPShort
by nkanven
[USDCAD]Let's Profit from the ranging marketHi everybody!! First I am very sorry, I don't post that much, I am very busy in my life right now! When I find the time I will for sure ! So USDCAD is ranging since few days now, let's profit from it! look for the ranging market Max and Min and play inside that gap!. Play safe get the right candle and dont look for more than 40 pips at a time ! Everything is on the chart. Need explanations ? ask your questions. Need my Idea on any other thing let me know. **Never forget your helmet when you take the right candle** **Enjoy trading ! it's thrilling" and **SL should NOT and almost NEVER be beyond 10 pips! JUST Wait for the right moment to get in ( Currencies )*** **I am trying to be as much precise that I can. ** **Use TradingView as a confirmation tool for your own strategy** **Please study hard before placing your money on Forex** Look at my other ideas right Below. **You like what you see ? give it a thumbs up** **FOLLOW ME FOR UPDATES**
Long
by KinkoHyoTrading
EURUSD ANALYSIS WEEK OF JULY 10, 2016The weekly is currently ranging. The daily chart shows LH and LL being made, so it is on a nice downtrend. That being said looking for a short trade would be a good idea. Looking at the 4H chart there is a nice bullish cypher formation which is a great opportunity to move the price up in our favor to look for shorts. You can get into the bull cypher without risk. Make sure to put a nice SL. I would be looking for shorts around 1.12222
Short
by Jnwsk
1
Ninja (USDJPY) struggles within the rangeAs you can see in the chart, there's little to no space in the range where USDJPY has been locked in for some time (since the recent lower point), so here's some things to think about: The US Dollar Index ( USDOLLAR ) may breakout the resistance and go higher Or it may get rejected at the resistance and come back all the way down Considering both scenarios and the similar positioning I took on GBPUSD , I thought it would be reasonable to post my thoughts here about this pair.
by Ice_
Horizontal support level low test rejection in ranging channelGBP/CAD has tested the rough level of 1.8159 4 times within the ranging channel and most recently has closed as a bearish low test above this support level. This signals at a potential rally back into the top channel at approximately 1.8474 continuing to move within the range. There are two entries into this reversal: 1. Entry above low bearish test bar of 15th August 2014 Entry = 5 pips above high of the bar (1.8223) Stop = below low of the bar (discretionary) The bearish low test close above the support level shows a strong rejection by buyers looking for a long move to previous highs around 1.8474. 2. Entry above a potential bullish close today Entry = 5 pips above high of the bar Stop = below low of the bar (discretionary) This scenario would suggest a shift from bearish to bullish with buyers returning back into the market. There is also the added bonus of Stochastic and RSI oversold reversal.
Long
by amanpaulbhogal
3