Daily/4H - Rising Wedge Pattern - Suggesting a move to the downside is a high probability. With some strong resistance zones of 1.28 round numbers and 1.2840 (.618 Fib) just above my area of interest. I have a couple areas for entry noted (pink sell lines), depending on what price action is like early in the week. I will be watching for news catalyst events...
I didn't have time to post this on Thursday. I saw an opportunity of what appeared to be a possible reversal forming. And a falling wedge forming. Not a strong one. My RSI/EMA indicator confirmed opportunity to go long. Buy at EURUSD @1.11460, SL at 35p. 50% of usual position as a scout. Add position as trade progresses. Target 1 = 1R Target 2 - 2R
EURCAD Bat Completion on Daily + multiple retests of Resistance zone. And oil gapped up on open, so... that's nice for CAD.
Trend Continuation Trade Setup Short from Structure - See chart for details
Bullish Trend Continuation Trade. Buy on pullback to 146.00 zone. Trade triggered in kill zone. RSI oversold 1H Open 2 positions P1 T1 40/40 1R P2 T1 40*/114 (.618 retracement) *move stop loss to breakeven when P1 target is met.
3 Drive on Daily; The last few legs have been 786 retracements of previous leg. Price action currently at Bullish Trend Line and Previous structure and Support confluence. beginning possible Harmonic move to 786 target of previous leg and HNS on 1H TF , possible trend reversal on lower time frames. If rules are met, will go long for 50p (1R) for Target 1
Watching the 4H and Daily for Completion.
AUDUSD is now in a very interesting zone. Looking for a short entering off the 1H time frame, perhaps later today or in the morning when volatility settles down.
R2/SL2 1.0950 (2nd SL if deep pull back) R1/SL 1.0850 (195p) Kill Zone 2 1.080 *(2nd entry zone if first fails or deep pullback) Kill Zone 1 1.065+ (T1/2.8R) S1/T1 1.0101 (550p) S2/T2 0.9910 (let it ride if T1 Archived) *4H TF *30 Day long term idea *Key is to buy in Kill zones /AOV
Practicing my trend line analysis; First Quarter projections: This pair has the properties of forming a consolidation and tighter range in the next few months. I predict Oil price will be the prominent and determining factor and be the catalyst for a breakout in either direction. Fundamentals suggest higher oil prices, which would track with my analysis pushing...
Bearish from 2014 to Mar 2015 Then in Ranging zone since At key level to break out of zone and tumble further. Long Term Bias for EURUSD is Bearish
Possible Buy Zone - above 1.3140 Why; Buy Higher Highs because of strength Must have; USD Strength CAD weakness OIL weakness Potential Long Term; 14R 1400/100, 12R 600/50
GBPAUD is back into its bearish channel Pre-Brexit Week (see Bubble). Friday made a new recent low breaking out of this weeks support zone. On my watch list - Looking for a catalyst to take a short on this pair next week. Possible sell order at the 1.7650 zone (possibly a phycological support zone) If; reached and penetrated if; catalyst candle is...