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Head & Shoulders on NZDJPY!!Hi guys, here it's an Head&Shoulders pattern on NZDJPY. I'm very interested on this cross because i think we have a nice rally ahead. On the daily price has formed 3 consecutive candles with buying pressure and we also have a divergence on the RSI. I patiently waited for a break of structure as a confirmation and that happened today. Now there are two levels where i'm going to pay attention to: previous resistance and previous support. If price will give us a weakness sign i will be buying this. If you have any question or you want to share your thoughts about this, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
Strong support + Lower low (Multiple TF analysis) On this pair, price has struggled to break through daily support (110.757) which I am assuming could lead to a strong bullish reaction. If we look at the daily timeframe for this pair, a lower low has been created in the current downtrend which also suggests price could now be ready to rise. I will be trading this up to the major daily trend line. We may have a few fib retracements which I will be looking for opportunities to re-enter the trade to gain more pips.
Long
by vj20_fx
Potential AUDUSD Long Reentry Possibility?!Hello Traders, AUDUSD is in a big triangle pattern in the daily chart, as you can see in the first chart. It was flirting with the last significant breakout highs at around 0.7536. Where also the 200-day moving average comes across. The main idea is now that the market should at least bounce from its current daily levels. Therefore, we waited last week for a confirmation in the 1-hour chart. As a matter of fact, the 1-hour chart gave as an ending diagonal. With a breakout and a retest of this broken falling trend line, as you can see in the second chart, we decided to take a long position at 0.7555 with a stop loss of 0.75688 and an initial target of the last daily highs at 0.7715. It is an approx. 5:1 risk to reward ratio, which is pretty good. The trade is currently with +70 Pips in profit. But we will wait now for another consolidation pattern, like projected in the second chart. With a break again of its potential consolidation, we will take another long position to scale into our existing position. In case of a scale in we will put our stop-loss from the first position to break even. We will keep you updated. We wish you a successful start in this upcoming week and please do use a tested strategy, this is just our opinion and we don't share OUR exact multi-timeframe strategy here. This will just give a sense of market direction. Cheers
Long
by secrets2trade
CADJPY - MONTHLY ANALYSISThis is a monthly,weekly timeframe analysis of CADJPY.I think this is correcting now and will be correcting for some time then will make an up move to 92.00,93.00 area. From where it can either continue the impulse up and if it does and then forms a corrective structure above that area then it is likely to reach about 115-116.00 and from there I think it will move down.But if from the 92-93.00 area it starts to fall down impulsively and then forms a corrective structure to sell, I think this pair will be crashing down towards 50-60 territory.
by d_ademi
Multi time frame StochasticThe idea for this is quite simple and no rocket science necessary to make decisions. This is to help you (hopefully) to anticipate instead of participate. The thick yellow line is the default Stochastic (14,3,3); the shades of blue are lower time frame lines while the shades of red are higher. When the 17 strands form a rope it's time for action, buy or sell. When the rope disentangles be cautious and/or exit. Another good place to act is where the strands form angles (peaks & valleys) but not necessarily a nice rope yet. Check that you are in the overbought/oversold areas when actioning this. When the rope forms a fishnet, beware, you will get caught! Hopefully you are out by then and waiting for the next peak/valley/rope to form. You can also change the time frame to differ from that of the chart's time frame if you want to study or test strategies. Use this with other indicators (Bollinger Bands, MA's) to help your decision making. Hope this helps.
by corbrink
5