Wizard
NZDUSD The Bias Of The DayFor this idea the main points are the same as those for my last couple of ideas , except that nzd has released less of its potential than aud and cad against the usd.
And I think that the commodities still have some room to continue their pullback.
In short I think that usd will further pull back.
AUDUSD The Bias Of The Day[i ]EURAUD didn't let the audusd to rally as it went up a lot but now idepreciate nowt wiat-leastciate now or at-least not rally much more. That would let audusd to continue its rally and potentially to make those double bottom patterns complete.
So yes, generally I think that DXY (USDOLLAR INDEX) will pullback some more and that commodities are likely to do the same for now, so audusd looks pritty good .
ps( I personally will look for a buy but i need to see some consolidation and some divergence to be more sure.)
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EUR/USD Bullish BIAS On Double Bttom +RSI Massive Divegence I've formed a new bias on eur/usd - in my opinion it's likely eur/usd is going to retrace after all it has been plummeting since 2014-05-08 and we are also a at a pretty big resistance level (to see that you can squeeze this chart or take a look at the weekly), we now how a possible double bottom with bullish divergence, massive one. So now may be the time eur/usd could finally retrace.
Possible targets or end of this retracement in my opinion will probably, but this could depend immensely on fundamentals, be at the structure and fib .382 (of the the big move) level confluence.
Now this is a bias and I will look for opportunities and good setups, I won't just buy now, because of it all. To enter a long position on double bottom i would first look at volume if it there a lot of volume this double bottom trade could be very risky and take out stop loss orders quickly and it could also rally, but i think that it would be smarter to wait for volume to get small and maybe then buy a lite bit, but remember as treider our own opinion is the most important to us AND THIS ALL IS OPINION NOT ADVICE NOT A CRYSTAL BALL PREDICTION I'M SAYING WHAT I THINK IS LIKELY TO HAPPEN. p.s. + additional indecision candles would be a good sign
BEWARE OF THE NEWS
and economic calendar events.
Written by : Wizard, whit --> NO CRYSTAL BALL.
US Dollar going down --> This would also be a catalyst for natural gas you may want to check out my idea about it can be found in the Related Link's Is Below.
USD/JPY to trade in a rangeI think that it is likely that USD/JPY will trade in a range because there is a strong resistance at 105.54 with fib 50% level confluence and because USD/JPY's price chart has made similar paths up twice and i think it is likely that it will do it the third time, history tends to approximately repeat itself. My bias of USD/JPY is short for about a week or till it hits the 105.50-105.00 zone.
Natural Gas Analysis for THE WINTER: "The Gas Could Explode"Everything can be seen or read on the CHART.
1. Winter Demand UP
2. If Dollar goes Down Price(NatGas) UP
3. Positive Technical Analysis
1.+2.+3. = ====>> to rocket UP; explode(?)
NZD/USD Exhausted And Going Down To Rest a Bit Or TwoNZD/USD is in a down trending channel and my bias is short (To take a look at the one related idea).
Bases :Bias, Channel, Stochastic RSI
SHORT SETUP
IF price reaches 0.86962
THEN i will go short, and place my tp order at 0.86459, but sl order at 0.87151
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Signls
IF This Stochastic RSI crosses the 80 oversold zone it will be a bearish signal.
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Specifications
R:R (ratio) 1.45
Time about 2h-7h
Thank you all for viewing if you like my stuff and want more you can look at it follow me and like my ideas. And as always wish you to strike it lucky.
EURAUD to go down.Uptrend was stopped by a head and shoulders pattern and a down trend started creating new resistance lines and bouncing off older ones. It now faces a trend resistance line actually two of them and previous resistance level will try to not let price higher. In this trend there was a falling wedge witch broke out to the down side and now the trend has made a bearish flag patter.
My entry point and exit points are shown in the chart. (But actually i have already take this position)
If you like my ideas and want to say thanks, please click that like button perhaps follow me. And good luck trading as this is a probability game luck can't hurt. And till next idea.
Idea developed by Wizard ;)
I publish ideas weekly and actually almost every day (5 trades today ggeesh ;)
EURCAD Fibonacci and structure confluence pointing up.Technical Outlook
EUR/CAD had a long rally followed by this down channel which cloud end up as a retracement if EURCAD went up.
There is a lot of structure at 1.43482 and there is a fibonacci 3.82 level close right at 1.42677.
I can't say now what this pair will do because it depends on oil prices and fundamentals, but i expect a short term rally when price reaches 1.42677, but i will be looking for other signals like bullish divergence and/or double bottom. So there i will be looking for a counter trend opportunity.
IF ( price reaches 1.42677 and signals a loss of momentum or a bullish divergence or gives a double bottom.)
THEN (I will buy looking for some short-term profits)
Thank you for viewing and if you like my stuff please like and follow. As always good luck and till next idea!
Dawn of Lucrative Channel(/trend) USD/CADBases: Fib. confluence with structure, Stoch RSI, Robust Trendline, momentum building, Stoch RSI14,14 2.92 on weekly chart.
There was a channel, which was broken and stopped by a strong leg, but the trend is continuing, and after analyzing this chart, I think that it will form another channel. At the Level 1.06374 there is a lot of structure which is likely to not let the price fall below 1.0614, there also is the trend line and previous channels resistance line (good indicator for take profit orders) which is directing price up if criteria is fulfilled.
IF ( EUR/USD = 1.0634 ) & forms a double or triple bottom making more resistance & if US Nonfarm Payrolls and US Unemployment Rate come out negative.
---> THEN i will go long and place my tp (take profit) order and sl (stop lose) order as can be seen in the screenshoot.
EUR/USD Channeling up to previous High, Resistance & Fib. levelBased On: Structure, Fibonacci levels, Channel, Stochastics, RSI, Momentum..
IF EUR/USD Reaches 1.3648. Economic Calendar events will effect this heavily, i am looking forward to a volatile day (TODAY:EUR Interest Rate, Decision, ECB Press Conference, US Nonfarm Payrolls, US Unemployment Rate, ISM Non-Manufacturing PMI ) If these events will be positive for EUR and Negative for Dollar, this could be a fast move (1day).
Then ==> I will Buy EUR/USD, I may however buy it at a slightly higher price as the price action up has already strated, but it would be safer to wait till the price drops and then but, it could also not happen.
(IF EUR/USD will go up very slowly THEN i will take some profits of early)
IF Today's big economic calendar events goes in conflict with a move up THEN ==> i will close my position and possibly open it again if an opportunity presents itself.
Thoughts & Why's
UP SIDE
There is a clear channel that is going up and is likely to continue.
Stochastics RSI is Oversold at 11 (11.4)
Momentum is gaining
Strong structure (6-8 points)
US Dollar INDEX (DXY) look's like a sell along with USD/CHF ( ) so EUR/USD should go up as dollar weakens.
There is also a double bottom, which is also a medium sign that EUR/USD is going to go up in short term.
DOWN SIDE
1. Major Fibonacci Level 0.382
2. Structure (Confluence with Fib Level 0.382)
A major 0.382 Fibonacci level at 1.3689 that and structure right there as well.
When Fib Level 0.382 (EUR/USD=1.3689) a retracement will probably take place if Dollar index goes down.
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USDCHF to go down if it reaches 0.89048 Based on Structure's and Fibonacci confluence, channel,...
If ADP Nonfarm Employment Change is better than expected and if Fed Chair Yellen Speach drives the pair up it could soon reach 0.89048 if these things don't drive up USDCHF it could still reach 0.89048 and then there would be a shorting opportunity.
Then ==> I will open a short position and place my stop lose and take profit orders as can be seen in the screenshot.
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