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AUDJPY More Bearish Price Action, Wait For Sell Confirmation Hello traders: Also on watch are few JPY pairs as they mostly are showing good signs of reversal bearish price action. Here on AUDJPY, from the HTF, we can see price has break above a previous highs, but no signs of continuation price action. Where as on the lower time frame, more bearish price action has developed and form. We see an ascending channel and price indeed reverse impulse down, and formed more continuation correction. Now that we have another bearish impulse phase down, would be interesting to see if price can form more continuation correction after breaking the previous lows, in order to confirm more downside opportunities. Wait for that confirmation before placing entry orders, if not confirmation or continuation correction, then no entry no trade. Thank you
Short
by jojofang0901
18
NASDAQ More Downside Possible, Watch For Sell Setups Hello traders: Looking at most of the US Indices market, they do seem rather bearish and could possibly continue more downside momentum. From the higher time frame, we discussed the possibility of a the bearish market since January Where as on the lower time frame, we continue to see more bearish price action. From the previous bearish outlook/forecast, price indeed push down to the previous lows, and continue down Now that we see a clear impulse phase that broke the lows, good to wait more continuation price action to form, to confirm another impulse phase to the next lows thank you
OANDA:NAS100USDShort
by jojofang0901
17
NASDAQ Can Push Lower, Look For Bearish Continuation Hello traders: Since last wee we have been seeing bearish development on the lower time frames across the indices market. Here on NASDAQ, we can see the HTF ascending channel was completed, and strong bearish impulse phase down. After hitting a previous lows, price begin to consolidate into a possible continuation correction. With a few swing highs and lows, double tops, price did reverse down on the lower time frames. Since there hasn't been a significant continuation correction, that's what we can wait for to confirm another move down to the previous low. Be on the lookout for bearish price action to form correction and look for the sell down. Thank you
OANDA:NAS100USDShort
by jojofang0901
28
SPX500 Look For More Bearish Move Down Hello traders: Similar like NASDAQ bearish outlook that I shared, we can also see SPX is showing good signs of bearish continuation down move. from the HTF ascending structure, price had a clear impulse move down from it. Naturally price will correct and form into consolidation if the bearish momentum is still there. We then see an expanding structure has formed, together with a double tops, and price indeed reversed down from it. Now, the latest development has shown a consolidation within the larger expanding structure, this can possibly lead to another down move once the consolidation finishes. Thank you
OANDA:SPX500USDShort
by jojofang0901
23
USDCAD Continued Higher, More Chance To Buy ? Hello everyone: Nice to see USDCAD has play out perfectly on the higher time frame and lower time frame to continue its bullish price action. Starting from the higher time frame, We can see price has formed a larger continuation flag structure, with a clean double bottoms, and price indeed pushed higher. On the lower time frame now, we also see an impulse phase follow by a continuation correction, with a lower time frame double bottoms the impulse the price up. Now that we see price is at the top of the continuation structure, it be good idea to wait and see if the price can form another lower time frame correction here, to confirm more upside potential. Wait for the confirmation of a bullish continuation correction on the lower time frame, and look for more buying opportunities to the next highs. Thank you
Long
by jojofang0901
5
USDCAD Bottom Of Structure, Watch for reversal Hello traders: Looking at USDCAD and its current price action for the possible bullish move up. On the higher time frame, we can see a clear impulse phase up, and a larger, parallel channel like correction that has been going on for many years. Price is right back to a double bottoms, and there is a lower time frame bullish reversal impulse. Now lets take a look at the lower time frames, we see a similar correctional structure after the bullish impulse up. These are good signs of multi-time frames that have the same direction and bias, can further strength our outlook and overview view. Now that on the LTFs, we see a small, double bottoms, and a descending channel. Price has indeed reverse up from the descending channel correction. To confirm more upside, wait for another LTF continuation correction to form, to validate the next up move. Thank you
Long
by jojofang0901
30
EURCAD Bottom of Reversal Structure, Watch for buy Hi traders: EURCAD could be shaping up for the buy that we have been patiently waiting for. We can see a larger, higher time frame descending structure, correcting the price. Within the correction, many extra confluences to give us a multi-time frame analysis. We see a falling wedge, price formed a lower time frame descending channel, and there is a strong impulse up. To confirm more upside potential, wait for continuation correction to form within the wedge for a high Risk: Reward entry, or wait for price to impulse out of the wedge, and look for same bullish continuation correction for a safer entry. Thank you
Long
by jojofang0901
31
EURGBP Ready For More Up Side ? Hello traders: Also eyeing EURGBP for the bullish reversal price action. We can see from the higher time frame, after the big impulse phase up, price falls into an expanding structure, correcting the price. We then see a large, descending channel, move the price down correctively to a double bottoms, and bottom of expanding structure. Latest development shows a strong bullish impulse phase from the lower time frame, good signs of bullish momentum To confirm more upside, price needs to consolidate and form into continuation correction before giving us the confirmation to enter for more upside. Thank you
Long
by jojofang0901
41
DXY 4 Hour - Decision PointWe've been tracking the DXY for a while now as it's rallied up into 2017 highs only to hold a structure followed by a break below, close below. This price action pattern allows me to make a bearish prediction with my personal tactic of entry being to wait for a pullback into previous structure resistance. Our pullback has occurred & is currently looking to once again retest the highs of previous resistance which puts us at an interesting "decision point" IF price can hold resistance again then it would be a positive sign for our short idea. HOWEVER, if price were to violate the highs, then we would be right back in bullish continuation mode with the next stopping point on my radar being 106.40's. As always, if you have any questions or comments on this idea, feel free to leave them in the comment section below as I do read through each and every one of them. Have a great rest of the week in the markets & an awesome weekend! Akil
TVC:DXY
by Akil_Stokes
NZDCAD Bottom of price action, watch for buy again Hello traders NZDCAD once again has hit the previous lows and start to form bullish reversal price action. From the previous forecast/analysis, price had the impulse up but did not break above the descending structure to continue. All that mean was price wasnt ready for the upside yet as we are still in the larger descending structure. But now price has made its way back to the bottom, and hitting the bottom of structure, potential double bottoms. Latest lower time frame did form reversal price action, so be good idea to wait for bullish continuation correction to form and complete, in order to confirm the bullish upside. Thank you
Long
by jojofang0901
8
NZDUSD Bottom of structure, reversal coming Hello traders: Lets take a look at NZDUSD, and how its latest development can give us great bullish opportunity. After a strong bullish impulse up, price falls into this larger, higher time frame descending structure, correcting the price. We can see the latest development has hit a previous lows, possible double bottoms. The lower time frame did have a strong impulse move up after, good idea to look for bullish continuation corrections to confirm more upside from the price. Thank you
Long
by jojofang0901
9