Resistant
Day Trade (2:1 risk reward)Coupled with RSI and MACD, I have drawn the support and resistance line for confirmation. During the asian session, EUR may rise to 1.068 range or slightly higher. From there take a sell trade and set your stop loss at 1.07208 and TP at 1.06038.
AUD/USD GeometricsWhat I have included on this chart: A fibonacci Retracement
A resistance line at 0.76812
A rising trendline underneath the lows of each swing low
The resistance line and trendline creates a wedge pattern since the end of May unti the present; observing this shows that the pair has closely followed a descending triangle pattern. When a fibonacci retracement is drawn from the swing low in may to the high in mid August, you can observe that every single swing has bouced off of the fib. levels precisely while never breaking the retracement.
The wedge pattern is coming to an end and with these technicals and the current geopolitical state that the US is in (upcoming election and "possible Fed Rate hike" the pair should break out to the bearish side as the USD could theoritically appreciate.
USDJPY - Plan B: Potential Bearish Bat Pattern!!! I posted yesterday a detailed analysis for a reason to enter long USDJPY
Now the pair has given a perfect opportunity to illustrate the meaning of "have a plan."
"Buy low, sell high."
USDJPY has turned to the upside momentarily and can potentially complete a bearish bat pattern around the 104 even handle level.
I dont know which way price will go from here, or if either of the setups will validate but we now have a valid plan for whichever way price decides to go. Be patient, have a plan and watch the price action. React to what the market tells us.
Cheers and happy trading!
NZDUSD: Buying at demand level (Also a support on Daily TF)NZDUSD: Buying at demand level also a support on Daily TF. Level is at fibonacci confluence level (76.4% and 50% level)
EURGBP: Buying at demand level on resistant breakoutEURGBP: Buying at demand level on resistant breakout near 61.8% and 38.2% fibonacci level.
USDCAD: Selling in a pullback of a downtrendUSDCAD: Selling in a pullback of a downtrend. Pullback is also a fresh supply level.
OIL HAS RETURNED BACK INTO PREVIOUS RESISTANT LEVELThe resistant level right now was previous supply level, now the price had tested the resistant level yesterday ,now now we can predict that the supply level has turned into resistant level .
First target will be 43 which is the previous supply level
EURUSD Long Trend ContinuesBuy around the break of 1.1330 and close position around 1.1450 because there is a strong resistance at 1.1462.
Still need to confirm this but around the 1.1462 zone look for a short sell to 1.1333 - 00 before a long continuation to 1.1583
GBPJPY: Selling on bear retracement Possible Bear H&SGBPJPY: Selling on bear retracement Possible Bear H&S. SL is ATR
USDJPY: Selling on bear breakout and pullback of a bear breakoutUSDJPY: Selling on bear breakout and pullback of a bear breakout. SL is ATR.
EURNZD: AO crossed zero. MA going bullEURNZD: AO crossed zero. MA going bull. Fibonacci retrecement at 76.4%. Buying above SR level. SL is ATR
GBPUSD: Small TF AO change.AO crossed below zero. Looking to sell opportunity. Sell stop below SR line
USDJPY: SR level revisitUSDJPY: SR level revisit. Fibonacci 61.8% reached. expecting price to bullish.
CADCHF: Uptrend SMA 10 touched.CADCHF: Uptrend SMA 10 touched. Expecting price to go bullish to SR level. SR level also confluence with 1.618 fibonacci level. SL is ATR/2. Profit:Loss ratio is 1:5.32.
EURUSD: Selling at SR level if price revisitEURUSD: Selling at SR level if price revisit. Confluence with 61.8% fibonacci level. H4 is bearish.
