BitterSweetMarkets

BitterSweetMarkets

Its all in the chart !!!

BitterSweetMarkets

Long at trend line support...

BitterSweetMarkets

Its all in the pattern !

BitterSweetMarkets

Its all in the Pattern !

BitterSweetMarkets

'Its all in the chart'...

BitterSweetMarkets

The Bulls are praying right now...and if there not..they should be !!

BitterSweetMarkets

Self explanatory chart ;)

BitterSweetMarkets

Self explanatory chart ;)

BitterSweetMarkets Updated 

Enter Long position up to 94.10/30 area (61.8% weekly fib level) also top of rising wedge...Then attempt a short from there...50 pip stop to be used either way !! This post is my opinion only. GL.

BitterSweetMarkets

Wait for a close above the resistance line (red) on the Daily chart to attempt a Long position. Stops to be placed below the red line. Alternatively a significant break and close below the lower blue support line on the Daily chart means a short can be taken with stops above that blue (now resistance) line.

BitterSweetMarkets

Due to geopolitical factors, overall uncertainty, the growth in Europe and the forecast for a stronger euro could suggest the decline in the dollar amongst other reasons is far from over. That being said it can still advance on the yen, so caution is always needed ! Lets see if we can break through the April lows support area...A short can be taken below 10800...

BitterSweetMarkets

The Bulls should be rattled by the sharp sell off last week after being rejected exactly at the falling trend line which has provided reliable resistance since mid 2014. If we break through the lower support line of the rising wedge pattern which is well and truly formed that should be a good enough sell signal to go short (based on this chart pattern).

BitterSweetMarkets

A convincing break through the support cluster and it might be worth boarding this trend as further downside seems likely. Alternatively if the Bulls step in and push the price above the upper trend line of the falling wedge and it holds on the Daily chart then a long can be taken.

BitterSweetMarkets Updated 

It could be worth trying a long if the rising trend line support holds, alternatively a break, close and hold on the daily below support would suggest the Bears are still in full control and a short is the one to go for...

BitterSweetMarkets

Heads up !! keep an eye on price action at the rising trend line, the Bulls will step in as prices test trend line support....they need to defend this area...if they don't i would expect to see significant downside..

BitterSweetMarkets Updated 

In my opinion wait for the price to convincingly break through the support cluster and hold before going short. First target Jan 2017 lows.

BitterSweetMarkets

It might be worth keeping your eye on this one if you like these particular patterns, they appear to be developed and so although the cup is a continuation pattern to be complete requires some kind of pull back (handle). As always confirmation is needed and timing essential as every pattern has a failure rate..! Happy Trading !!!

BitterSweetMarkets Updated 

A falling wedge pattern has formed over many weeks, it may still be forming and so we wait for price action at resistance to help us understand where we go from here...Confirmation is needed...so lets wait a day or two !!