BlackSheepEntries

BlackSheepEntries

The analysis is in the chart. Check it out. Currently expecting price to reach 41000

BlackSheepEntries

Strong breakout of my initial support zone. Now with the bears in full force I believe the market will retrace back up to the 50-66% fib zones before having another bear run to wedge channel support.

BlackSheepEntries

I closed my position at 39,100. I can still see it hitting the bull support zone from the channel but I'm happy with 700+ pips bagged for the week. For those that saw this and took advantage CHEERS!! I will be back next week for more analysis.

BlackSheepEntries

The sell off analysis from April 14th is currently up by 558 pips at the moment as I type this out. I currently have 3 entries in this sell to bull support off the 2nd low on April 10th.

BlackSheepEntries

Looking like we may see a sell off to bull support. Price starting to break down in the area of the original sell off of the descending channel that had strong bears present.

BlackSheepEntries

All details are in the picture itself. If you have any questions feel free to message me.

BlackSheepEntries

Ascending wedge channel 70% of bear breakout. We have 3 HHs printed with a possible 4th. We are currently in a strong bear trend. So trading with the trend here. Biggest target is a daily target. If a certain support level breaks on the daily I will target the wedge channel fill from the daily.

BlackSheepEntries

Basic Market Concepts are essentially market examples of the Market Cycle. Putting it into simple context can help traders know when the market will be ranging (horizontally), where the support and resistance zones are and see how market behavior looks like.

BlackSheepEntries

I am seeing a lot of traders thinking possible double top, i originally thought this too until i back tested some more and went through a couple of failed trades with the same Moving average formation thinking "possible double top" and that wasnt the case. following through with a buy trade considering 20, 50, 200 ma still spread out. Just my analysis and...

BlackSheepEntries

I spotted a bearish expanding triangle coming from a support zone. Expecting it to drop so i placed a sell stop at 1.22205 (placed on metatrader) adding to the potential of a bearish move the 200 and 50ma are currently above market. Id say wait for a candle confirmation or set a sell stop to play it safe. This is just my analysis and not a signal, use proper RR...

BlackSheepEntries

4hr time frame shows bearish rsi divergence at a resistance level. My only concern is how the 20 and 50ma are currently positioned. Could be a H&S forming at this level as well. Trade carefully and use proper RR. This is just my idea and not a signal. Do not take divergence as a signal to enter a trade. Must have several other factors to add to the potential of...

BlackSheepEntries

Multi time frame analysis shows that we are in the zone of daily support. In this zone i have spotted what id say is a valid inverse H&S. Long hammer candle bouncing off the 20&50MA shows me possible buying pressure starting now. My rsi i have a bit different than most people. I have it set for telling me when to buy and when to sell. As you know inverse h&s is a...

BlackSheepEntries

My current analysis. Could change with the news coming out in 1hr 12min (RBA interest rate decision). Consensus being more than previous. News come out at 23:30. Trade wisely.

BlackSheepEntries

GBP/JPY has created a rising wedge, this typically signifies a drop in price. There is a saying that a rising wedge is falling and a falling wedge is rising. Meaning no matter what the type (reversal or continuation) a rising wedge is bearish and a falling wedge is bullish. Currently the pattern has not yet fully formed, waiting for candles to get smaller with...

BlackSheepEntries

Currently XAU/USD has created a symmetrical triangle. This type of pattern can follow the trend or completely reverse, there is not telling where the market will go here. MA's all close together showing be indecision currently in price. Possibility of gold going up is there due to this pattern being made on a support level, but the support level has been broken...

BlackSheepEntries Updated 

False breakout from bullish trend. Multi time frame analysis shows the daily chart is still at an uptrend and the "bearish channel" we see on the hourly is just a pullback on the daily. HEAVY news coming for australia in 7hrs (Market composite PMI and market services PMI) expecting to be more than consensus but we wont know until it comes out. Check myfxbook.com...

BlackSheepEntries

I spotted a bullish descending triangle on the 15min chart. Broke the pattern with a nice retest. 1hr chart still at an uptrend (use my 380ma to determine bearish or bullish market). We are just currently in a bearish channel than will reverse soon. Just my analysis, anything can happen. trade with caution!

BlackSheepEntries

Market has bounced off the yellow zone of resistance, looks to be creating a inverse head and shoulders. In this zone i spotted a gravestone doji indicating a DT to my TP at .72600 (same area as left shoulder). Market is currently overbought indicated by my stochastic oscillator further indicating a DT. MACD line looks to soon cross under the signal line further...