Weak
EURUSD INTERIM SHORT THEN POSSIBLE LONG SKACAPITAL Price is currently testing the multiple tested S/R SD trend line.
- Now if price breaches below this level we can see further downside momentum to potential target 1.11750. We may encounter a break below retest then bearish confirmation.
- If price breaks below the lower channel line with demonstration of bearish momentum and PA then we will be going short to our next “Potential Target” 1.10500. (Careful on this pair due to the EU Referendum/)
We have a possible bearish harmonic pattern forming; if we begin to see bullish momentum around 1.11750-1.11650 then we can look to enter long positions to our potential targets of 1.1400 then 1.15850.
- To be on the safest side to enter long positions for the bigger move up to “D” we must enter on the break above the descending trend line from “X” to “B”.
- Traders can enter long from the lower channel line where stated but have management levels around 1.12500 as the market can change around this level.
AS EXPLAINED THIS IS JUST AN FORECAST; WE JUST NOW FOLLOW WHAT THE MARKET DEMONSTRATES THROUGH PRICE ACTION; INDIVIDUALS ON MY ANALYSIS SERVICE HAVE FURTHER IN DEPTH ANALYSIS BROKEN DOWN INTO THE LOWER TIME FRAMES WHERE TRADE SETUPS WILL BE PROVIDED... TRADE AT OWN RISK
Smart money steering clearAs I've said before. Volume divergence is the mark of a weak market movement. Smart money is not buying right now. The peaks of volume have coincided with selling from levels like the one we're currently at, so we should see more of that to come. The price in the last rally and today has gone up on the lowest level of volume we've seen in months.
Down it goes
AUDUSD Showing Signs of WeaknessTRADE TYPE: SWING
With AUDUSD holding a very weak bias over the long term, on a higher time frame swing we would like to respect that bias and look for adequate short entries. The market reversed at the lows at around .68500 after breaking out of the ascending wedge pattern, below the trend line and made a significant run to the upside. This brought a lot of buyers into the market. However with the market reversing sharply at the bottom of the trend line at around .72400, that it had previously broken out of, and then forming a lower high at around .71400 we could potentially see the AUDUSD return to its long term bias and at the very least try to make a run to the previous lows.
If one wanted to look to get short please follow the rules below for an entry:
Aggressively one could short this pull-back at around .70800 with a stop loss above the lower the lower high at around .71500-.71600.
Alternatively for a more conservative approach one could drop down to the hourly chart and look for a bearish engulfing pattern before taking on the position, stop placement will be the same as the more aggressive entry. This will not provide as good of a risk:reward ratio however.
If you want to join our trading team check out www.Unique4xPro.com
Also follow us on all of our social media:
Twitter @ Unique4x
Snapchat @ UniqueForex
Instagram @ UniqueForex
Tune in to our daily live market reviews @ 4:30 p.m. EST on Periscope and Meerkat both @Unique4x
Buy Strength, Not WeaknessEasy to try and call bottom on a stock that looks as cheap as $JCP but the fact is they are still losing money and the downtrend is in tact. Look for a stronger retail player.
Weak Butterfly Pattern, American Eagle Energy Corp (AMZG), 60minAnother penny stock, today has been a very uneventful day in my Forex portfolio as you can tell.
Here i have found a butterfly pattern in the american eagle energy corp. The pattern is a little weak, meaning it isn't a perfect pattern, so the results may very.
I have placed my entry at the lowest low of the pattern , my stop at previous structure resistance around .16 and my limit all the way at .28 or the 1.618 extension of the BC leg. I will be following this all day and should expect completion by the time the US market closes tomorrow.
As always, don't forget to like comment and even follow if you really like it !
Thank you and good trading
