BAC TO MAKE NEW YEARLY LOWS?= Great R/R for SHORTTechnical analysis of BAC's chart indicates strong levels of resistance at 18, and 15.25, the latter of which has just seen a completed double top in the past few weeks
This indicates that we should break lows and test lower, 9.9 and 8.27 (more significant) supports are supports we could test.
let me know what you think
Test
GBPAUD - Run out of steam?Shorted GBP/AUD based on the following reasons:
- Not able to break above 50 fib line on daily
- Beak and retest of 2.03 level
- Bearish engulfing on Daily
Caution: This might be a fake out and we could possibly just be re-testing the broken descending trendline in which this trade would be invalidated i.e. the trade would be closed if PA turns bullish.
GBPUSD: Retest of Major LevelHey guys! Found a good retracement back into the resistance level inside a channel! Good short all the way down to the end of the channel maybe?
Good luck guys! Let me know how it turns out!
Oh yeah! There is a volume divergence on the 15 min chart! Just more info to give a clearer picture :)
EURAUD / 1HR / POTENTIAL CYPHER PATTERNCYPHER PATTERN
PAIR: EUR/JPY
TIME-FRAME: 1HR
TRADE: CYPHER PATTERN
Have a potential Cypher Pattern on the 1HR after
a previous Winning Pattern was presented.
NOTE: These are potential trade opportunities. Please
re-analyse the trade before executing.
Star Prosper
Philip Stewart
WEBSITE: www.StarProsper.com
FACEBOOK: facebook.com
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POSSIBLE 4:1 RISK/REWARD ON AUDCADI had this currency pair on my watch list for this week after analysing the WEEKLY chart, and whilst looking through the DAILY time frame I spotted a potential long trade.
I spotted a pattern I have just started to test out, you have 3 bars involved. In this instance we see a good pullback to previous structure, the first bar looks like a potential low test bar, then the bar after it is a high test bar but the interesting thing about it, the second bar fills the rest of the low test bar body. The third bar then has to either be a low test buyer bar, or an engulfing buyer bar.
I will make sure at 10pm tonight to check that this bar finishes as an engulfing buyer bar.
Couple of details to add, I currently have to trades open on this currency pair only risking 1% each trade. I have my 1:1 target where the first blue line is, my second target is the 2nd blue line beyond the first which price has previously been before, making the trade a potential 4:1.
Side Note- These are all my opinions, please do not take my advice as the be all and end all, I am an amateur FOREX trader trying to learn about the markets.
Range bound based short set up on EUR/GBPEUR/GBP has been in a range since March 2015. Another retest of ~0.7400 at the top of the range and a high test close with oscillator bearish divergence offers a short position in the ranging pattern possibly reaching the bottom of the range at ~0.7000.
entry - below low of high test bar
stop loss - above high of high test bar
target - bottom of the range/support at ~0.7000