USDHUF trade ideas
Bullish Flag patternAfter the disastrous MNB announcement, the price got back quickly above the previous trend-line.
It seems that it was a false breakout-below, which turned the whole look into extremely bullish.
But need to wait for some consolidation, before the trend continuation.
A bullish flag pattern is taking shape, which is also bullish.
USD/HUFFinally, im done playing the waves on this. This is the moment I have been waiting for, the perfect entry for a short down to around the monthly 50 EMA. I do believe this run will start here in the next few hours.
LONG on USDHUF1) USDHUF broke the previous S/R Zone
2) it is now Retesting that Zone which will act as support
3)It is also at the 61.8 fib level indicating for a push to the upside.
4) also keeping in mind dollar strength as more confluence to go long.
USD/HUFStill riding this trade down to the monthly 50 EMA but saw a potential pullback play for a quick gain. This trade could also easily go down to the 1hr lows.
- Double top means there is room to go
- Close under the 4hr EMA
- Horizontal resistance
- Bearish High Testing Candles
- Retest of the 1hr 50 EMA
- Retest of 1hr Pivot
USD/HUFTaking this to around the 1 hr 50 EMA. Just a thought for a small gain, this trade is risky. This is just a pull back play if you enjoy playing the waves.
- Falling Wedge 1hr
- Strong Trend Line Retest 4hr
- Bullish ABCD Pattern
- Support 2 on Daily Pivot Point Standard
USD/HUFBeen watching this setup for a while now waiting for the right opportunity. After weeks, it finally broke the trend line it has been on for a while. I saw a head and shoulders pattern forming on the weekly and knew it was coming to an end. Currently it is retesting the Weekly 50 EMA , The Weekly Trend Line , Head and Shoulders Retest, Rising Wedge on the Daily to Retest the Trend Line , 5 Wave Elliott Theory To Retest Trend Line , Retesting .382(Which Was My Entry) and My Target is Around the Monthly 50 EMA .
DONT MISS THIS!MULTI TIME-FRAME ANALYSIS DONE.
TRADE SHOULD ONLY BE TAKEN IF IT FITS YOUR IDEA OR PLAN.
TRADE SMART.
Descending triangle reversal USDHUFTREND CONFIRMATION: There the initial trend was bearish uptrend this is indicated by the 200 EMA and trendline. (YES)
PATTERN INDICATION: This reversal chart pattern emerges as the buying activity declines and the market fails to create new highs, shown by the downward slope with price creating a new LH. Given that support levels become weaker as it gets tested more (price contacts the level).(YES)
ENTRY POINT: Given that support levels become weaker as it gets tested more (price contacts the level). so we're looking for a breakout of this flat support level, though, the breakout candle ( the candle that breaks below the level) MUST close below the flat support line. (PENNDING)
*we shall confirm the breakout by using the Chaikin money flow indicator (CMF), which confirms the supply-demand imbalance. so far the CMF seems to be below the zero line longer during the descending triangle reversal, as the horizontal line aligned with the CMF has bee below the zero line before breaking structure, making a LH. (YES)
USDHUFI am waiting for the price action in the highlighted area, to show following move. At the moment I see M reversal pattern and waiting for the break of the support line.
USDHUFApproaching strong resistance area, also TDI is overbought on multiple time frames. Let's see what will happen after fundamentals.
USDHUF video top-down AnalysisHello everyone, here is the top-down analysis for USDHUF, feel free to request any pair/instrument or ask any questions in the comment section below.
Best of luck!
USDHUF Short - Weekly Analysis September 20, 2020USDHUF Weekly Analysis
- Price is completing a double top on the weekly level
- Will be looking to short at the 305.000 level.
- Arrows indicate the strong structural level.
USDHUF - trendline break Supporting long:
Daily trendline break, with candlestick support + retest
Sensitive stock market sentiment
TP: 4%
SP: 0.9%
No mans landWe broke out last week, from a big correction phase.
The volume was low, indicating it is a false break-out, but also it could be a back-test and might head higher.
No one knows...
That is why you should wait for the exact signal to go long/ short.
USDHUFUSDHUF has created double top and has started potentional 5th wave. Target is 100% of fib extension and long-term potentional target, after break of strong support is at 161.8% of fib extension level.
New uptrend starting on USDHUFThis pair might be setting in a new uptrend.
Starting off from the weekly: we have an uptrend in place and looks like it has completed an ABC corrective pattern.
Zooming in on the daily: we had a period of consolidation, then a breakout and retest of this consolidative box. I'll be waiting after NFP for possible pullbacks to get me into this trade.
