NZDUSD FIB Cluster with AB=CDKIWI is reaching the 0.618 retracement of the prior wave. This level is also the AB=CD of the current wave. The 1.618 level of the currents wave correction also coincides with this level. This is a trad-able level.
Rkchartest
Using Fib Clusters for targetsIn this Example of using fib clusters, you can see where a cluster of fib extensions cluster around a AB=CD level. This can be used as an expected target for the EURCAD.
Using Fib-Clusters to Determine Targets and Terminations & AB=CD
Using AB=CD patterns is a great way to look for trade locations. When they match up with other AB=CD targets it makes the levels stronger. Combine these areas with fib clusters and you have a whole lot of confirmation. Fib clusters are groupings of various fib extensions and expansions. These are measured from the swings and the major pullback corrections. The EURUSD -0.93% is currently in a fib cluster as price is reacting at this level. If this level breaks, the two boxes below are the next major fib clusters for the price extensions.
USDCAD Reaching supportUSDCAD is reaching a fib cluster, channel support, and AB=CD. Great area to look for a long.
USDJPY POSSIBLE OUTCOMESI'm currently in favor of shorting the UJ. A break below can trigger a sell off. Dont rule out the bounce to the 0.886 level which is a strong harmonic fib number. If that holds, the upside will prevail.
USDCAD Reaching major levelsNot my cleanest looking chart. This is what we have:
50% retracement level from the January High
R1 level of the monthly pivot point
AB = CD harmonic pattern.
All these levels come into alignment with very corrective structure.
NZD/JPY No brainerPair is reaching an area that should cause a reaction. Over all trend could be up long term, but I do expect the pair to correct lower very soon.
GBPUSD at pivot level and support.GBPUSD has reached a mid-pivot level that is also at range support. The bottom resistance level is actually at S1 however there is no denying the mashup of support levels for us to keep a closer eye at this level. Slower stoch is showing a rise in price and faster stoch is still showing price can go lower to the S1 level before reversing. I am on the buy side on this pair as the range is still intact. I will be waiting till after the weekend before entering if price is still holding. Id expect S1 to still be in play so stops should be below. If that is the case, be careful of the algos as they know that is where stops are. Give yourself room to avoid the volatility spike they can cause. .
USDCAD at monthly mid-pivotUSDCAD is finding resistance at the monthly mid-pivot. Long term stoch is still showing downward pressure as the the faster stoch is showing upward momentum. I'll be watching this level next week as I dont think any volume will come in this close to the weekend.
USDCAD Reaching next swing levelI believe the USDCAD is reaching the next swing level. With pivot points lining up and an approaching AB=CD formation coming to an end on an harmonic level, the pair needs to watched closer for a swing entry. Stochastic are starting to top the 21 and faster speeds. These are all starting to signal a good entry location.
The arrow is just the location where allot of signals are lining up and may not be the exact location the pair turns.
The 1.2655 is a strong level and will offer strong support for bulls and the pair to head higher. With that in mind, profit targets for my self will be quicker in this environment.
EURUSD Swing LevelsEURUSD has two untested swing levels "YELLOW BOX" and the "GREEN BOX" are swing levels that have been tested. The green box's are more prone to collapse.
The swing points or supply and demand zones are just areas to watch on the chart. If price shapes out and still favors the SELL to make new lows, a pull back to the upper Yellow Box would get you in at a much less risky price. Could be a bit early to tell.
Just hope the charts give y'all some idea to assist your own strategy.
AUDUSD waiting for a spike. I don't think this correction is done yet. If it is, it would qualify as a running flat which is a pretty rare formation. Current price action has basically gone sideways with no sellers to be found "currently". If the pair is to head lower, Id put my money in an area with a higher probability to get a reaction. The last area that showed volume I marked as a swing point. I have a limit sitting right at 0.7599. If the reaction is only SO SO ill be dropping that stop breakeven pretty quick.. If it shows a good reaction ill be riding the pair lower..
Happy Trading.
GBPUSD Trade the RangeGBPUSD is approuching the upper range area which I believe has plenty of sellers waiting. I'll be entering at 1.3340 where I expect the largest orders to be parked at 1.33720.
There is a ending diagonal pattern that has taken shape. Formation that can happen in a wave C for you Elliott fans. Pattern or no pattern, I expect the upper boundary to be an area worthy or a sell limit order.
EURUSD playing recent USD strengthThis pair recently likes to trend very volatile. Pull back in the prior resistance ZONE would be an area id target for re-entry into recent dollar strength. I honestly favor the 1.14/1.15 area to sell this pair. However there is no denying the recent USD strength from recent news.
GBPUSD pullback to the downside?Trends continue more than they reverse. Good entry is prior resistance or support levels. Volatility spikes also like to target these areas. Be patient and good fills for better R/R entries.
USDCAD on the rise?USDCAD is showing a classing 3P head and shoulders with a pre-breakout ride by the 20EMA
USDJPY Might be springing to break the low.Normally this would be a great area to have a limit waiting at the low. Play the reaction. However the current correction to the 20 EMA can act as a spring to accelerate the pair through the low. A good breakout pullback trade may be how to approach this low.
GBPJPY Approaching RRLGBPJPY is approaching a Role Reversal Level. I expect a reaction here rather its corrective or start of a swing. If price breaks out, ill have a entry at same level to the upside.
AUDUSD Pivoting?AUDUSD Just printed a higher low on the chart. This can be a swing point for tests of the 0.7758 area.
EURUSD Long on resistance levelEURUSD has been traveling to the the 1.1426 resistance level. Area of support is approaching and offers a good level for up trend continuation. I expect some bids will be in the area to at least give us a bounce in price if it favors to go lower. In that case support will turn to resistance.
AUDCAD Pullback to range can make a good entryAUDCAD Broke out of the July range. Pullback to retest levels would make a great entry to re-enter trend.
Range in Place till brokenRange is in place till broken. My bias is a sell at current levels till broken, then my bias will be long if the April high is broken.
Short GBPUSDPinbar was formed on the breakout trendline. Good place to go short as resistance is now support. Also its a strong value line area "Shown in Comments"
