With the continuation of the downtrend and scare within the U.S market. I speculate from a fundamental perspective that the downtrend will continue. As for technical, after measuring the swing high & swing low not only does the 61.8 area align with confluence to previously respected price levels. My exit price levels, 127 and 618 align with the weekly low &...
After a period of consolidation, NZDJPY has broken out and closed towards the downside. Following this trend, a retracement level of 50% aligns perfectly with the monthly low. I'm speculating that a possible short entry may be found in this area where previous support will become newly found resistance as the trend continues. My exit plan is based on two possible...
Really simple set up, training your eye to spot these patterns in my opinion is essential for developing consistency with your trades. After seeing the reversal, which using the 1H and especially 4H makes these easier to spot. You can see where the left shoulder has formed, aligning with the right shoulder on the 61.8 level. Other than that, we notice the area...
This set up was not published but I was looking out for this for about a week now. After noticing a break in trend, I was awaiting for a good area to enter. Generally a pullback, I had then noticed something on the 4 hour. We can see a potential head and shoulders which eventually came into play. Aligned with a 61.8 retracement. This simple yet effective set up...
We have massive consolidation following a break through in trend. Nothing to be 100% solid on, focus less on predicting and more on going with the wave as the market plays out more. If we see a breakthrough, I am going to wait for price to fall through the previous monthly high indicated as the golden trend line as shown. Looking out for a pull back and...
I generally extend my fibs top to bottom if I'm looking to sell. Bottom to top if I'm looking to buy, as you know the 38.2 & 61.8 are the same in size as for distance from 0. Just perceived differently depending on which direction you extend your fibs. We now see a 61.8 retracement, exhaustion and great price action. Wicks to the upside mixed with pulls towards...
Based off of the recent push towards the downside, we saw a break through the monthly high towards the downside. Now looking for potential areas to short. We see a 61.8 retracement in confluence with recent support and a good area for liquidity. Awaiting price action to confirm this analysis, we can also look for a potential trend line continuation supporting this...
Understanding why the market is moving the way that it is, is very important in understanding the physiology behind the market. Recognizing a Fresh area of supply where we see a strong movement to the downside, we can look at this price area as a nice area for a potential sell zone. Going along with the trend rather than against it, the market is making lower...
