Techincal
DJI - Dow Jones - Short Clean Text book short played by dow jones, giving late hours retracement but the trend looks certainly down. We have to wait and see how far off the retracement goes but certainly a big bear engulf candle is in place for further down play,
ETP-4 pattern on the $AUDNZD dailyWith the size of this ETP-4 pattern , we're looking at scaling since the reversal area is so large. The support is in a great area so we'll be looking for price to bounce anywhere between current price and the support lows. The bounce here should be a wide area but an area that should be quite noticable and a good area to put a stop.
GOLD SELLConsidering the dxy analysis i have posted prior to this post. If the dxy used that zone as a support (refer to the dxy setup) we should see gold drop to around the o.618 level , where there is a preious strong resistance. ideal area to also go long if we see good rejection around the 0.618 fib level.
telegram: t.me
NZDUSD potential 1:3 RRPrice at major resistance zone on daily timeframe .
if price reject the 23.6% i'm expecting toward the downside .
Good risk reward of 1:3 .
USDJPY SHORT Last couple of weeks we noticed bulls to be very active in this pair. That can be over very soon,cause we have some good indication that price will be pushed down. There is no Big Fundamental data that can strongly affect this pair in comming days.
Techincal analasys showed that USD/JPY reached 1D trendline. Near that level we also have ressistance point. That ressistance level was retested several times,and the price couldnt get thru. This,perhaps,will be one of the last test of
trend and ressistance line before the bears get into the market and dive the price down.
From the 9th of may we can see that this pair has formed triple top formation. If we combine that with all previous mentioned,it is legitimate to say that bears will sooner or later 'hop in.
Also,the proof of exhaustion we can see in form of the last couple of candles,they are forming wicks,and to confirm all this bearish move we have candlestick pattern called bearish Harami.
In order to get in this trade, we need to let the candle to close under 4hrs trendline and use SL and TP as shown.
Of course,you can set tighter SL but i do not recomand that just in case STOP HUNTERS come in game.
NZDUSD short opportunity!Hello traders! After that big wick red candle, based on dxy strong reverse move, we are expecting a down move on this pair. Don't just jump into the trade. Watch price action in lower timeframe before entering short.
TRADE WITH NO EMOTIONS!
USDMXN waityet again idk what this currency is, wait for either downtrend or support to be broken then trade relative to whichever broke, boiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii
USDJPY WAITWAIT FOR INTEREST RATE NEWS THEN SHORT DEPENDING ON THE NEW BC THIS IS TECHNICALLY SOUND ALL THE WAY DOWN TO THE ARROW
AUDCAD Technical outlook D1/H4AUDCAD failing into dynamic range once again, with a possibility of a breakout to upside delivering a continuation of this bullish IRR retrace. On the other hand a break to the downside of this pendant will give us a better indication to where we should place our entries to trade this pair.
Usd\Jpy Weekly viewUsd\Jpy is in an interesting place, a combination of the weekly 50 fib level, and a double bottom is setting in the daily chart, will definitely monitor this one for possible long opportunities
GBPUSD TECHNICAL ANALYSIS D1 OUTLOOKFALLING WEDGE PATTERN IS USUALLY A BULLISH SETUP WITH A BULLISH BREAKOUT CONTINUATION THAT FOLLOWS BUT IN THIS SITUATION, WE NEED TO REEVALUATED OUR TECHNICAL ANALYSIS ON THIS PAIR AND BREAKDOWN THE SLOPPED TRIPLE TOP THAT HAS PRINTED AND THE BREAKOUT OF 1.238X.
A LAST KISS BREAKOUT PATTER LOOKS TO PRINT AS SUPPORT TURNS TO RESISTANCE AND A SAFE EXIT WOULD BE IDEAL AT THE NEXT SUPPORT LEVEL FOR INTRADAY PROFITS.
KEY RESISTANCE LEVEL TO WATCH IS 1.237X TO 1.233X.
THE ECONOMICAL DOCKET FOR THIS PAIR IS ALSO QUITE BEARISH BASED ON RECENT DATA COMING FROM UK( (CPI), BREXIT DATA, (BoE) INFLATION RATES AND UPCOMING MONETARY POLICY CHANGES. THE BRITISH POUND WILL CONTINUE TO STRUGGLE AGAINST THE DOLLAR EARLY IN THE SECOND QUARTER BUT THE POUND WILL LOOK TO STRENGTHEN ITS LONG TERM OUTLOOK FROM ITS DECLINE OF 2016.
EURAUD: If this happens. HOLD IT!EURAUD is forming a bat pattern. This bat can be the ultimate winning trade. Not only will it form a double bottom, it will form a double bottom on a monthly and weekly major support zone. This will be a high buying area. If you enter this trade. You should hold it for months! Do not miss out!
NOTE: only if price reach the D leg will it provide optimal profits!
NZDUSD: ShortLooks like a shorting opportunity is happening soon. Probably during Trump speech tonight. I am already in the trade at .7235 and .7190
EURUSD: LONGEurusd is moving like how I am expecting it. If you look at my previous post on the Eurusd where I was looking to short. Eurusd is forming a HNS on the daily tf. But it has to go back up and break the 1.08300 resistance level in order for the HNS to be real.
Expecting uptrend Technically: The chart may complete 5th daily wave which has not yet
Fundamentally: The Canada fundamentals are much weaker than the USA
Your comments are appreciated
AUD/USD valid breakout targets 0.7420As we highlighted yesterday that we wanted to see a confirmation of breakout or reversals in AUD/USD, and the price action today suggests that AUD/USD confirms the uptrend.
Note: We are buying the dips on AUD/USD with stops at the support levels at 0.7330 to target 0.7420 in short term trading.
Gold "bears" trade setup targeting 1660 areaTechnical:
1. Gold has been in steady uptrend channels for 9 trading days, but the recent price action overlapping the upside channel suggests that the correction is due. In addition, the 2 times rejection shown on chart also add to our short-term bearish bias.
2. The room of corrective moves in gold is seen to touch 1660 - 1665 area.
Trade ideas:
We generate the low-risk trade idea of shorting gold at current market price at 1178.
S/L: 1186
T/P: 1163
Risk to reward ratio = > 1:2
