


Novi_Fibonacci
ModSome interesting analysis has shown itself through Price Action and the added help from the indicator Relative Strength Index!! I solely base my analysis off of price action, then add indicators later to solidify any bias! What I am witnessing is called a Divergence where Price action, in this case, is giving us Higher Highs where our RSI indicator is giving us...
USD/CAD price action is outlining what LOOKS to be a possible Ascending Triangle! Ascending Triangles, made of Higher Lows into a Resistance zone, typically mean BULLISH momentum is starting to step in!! *Ascending Triangle will be Tried and True if price action is able to break up above 1.35242! **Price breaking down below Bottom Leg will INVALIDATE Chart...
Here we have a possible long term BEARISH analysis on Gold. Gold seems to be respecting this Falling Resistance that reared its face upon price reaching 2081 (May 4th) then declining to then retest this Resistance a 2nd time at 1953 (Sep. 1st) bringing us to the 3rd attempt at 1937 (Sep. 19th) Following this 3rd attempt, price has STEADILY declined into what...
EUR/USD has broken sequence confirmation initiating my Trade Action Plan!! -BUY- {TP} 1.07450 {Entry Zone} 1.06818 - 1.06792 {SL} 1.06560 *TRADING INVOLVES RISK! THIS IS NOT TRADING ADVICE NOR SHOULD YOU BLINDLY TRADE WHAT YOU HAVE NOT TESTED BEFORE! EDUCATIONAL PURPOSE ONLY!
Price for USD is forming what looks to be a Pennant Chart Pattern! Pennants are known to be Continuation patterns where price typically will break out the direction it was heading prior to entering the pattern! BUT everyone knows MARKETS CAN DO WHATEVER, WHENEVER! DXY has been stretching up since July 14th! Lets see if the BULLS have what it takes to push...
USD/CAD is currently in an interesting area!! Price is creating an Equal Low at the previous low making it a "Neckline" for what looks to be a possible Head & Shoulders Pattern! Head & Shoulders are considered to be a REVERSAL chart pattern where price is unable to create a higher high then the "Head" and is rejected back down from the shoulder forcing price to...
USD/JPY is struggling after reaching these Highs it hasn't been to since back in Nov' of 22! *Given there is room for price to go higher* Price created a High on Sept' 5th with two attempts to break it afterwards (Sept' 6th & 8th) *Unable to do so creating a Lower Low! (Sept' 11th) Today the bulls gave another attempt to bust up but were DENIED!! (after positive...
GBP/USD has begun a bullish sequence with price pushing up above 1.25142!! Price action therefore has initiated my Trade Action Plan! *BUY* {TP} 1.25885 {Entry Zone} 1.2498 - 1.24935 {SL} 1.24691 -Trading involves risk!! This is not trading advice nor should you blindly risk your money on what you haven't tested before! Educational Purposes Only!
AUD/USD has given us a Bullish break out of the Bullish channel price had been travelling in before! With the strong bullish Close confirming the potential bullish sequence, my Trade Action Plan is put into place! *Buy* {TP} .64847 {Entry Zone} .64150 - .64108 {SL} .63865 -Trading involves risk!! This is not trading advice nor should you blindly risk your...
GBP/JPY from the beginning of this week has been in what looks to be a Descending Triangle Pattern! *Lower Highs coming into Equal Lows! With this pattern, traders would typically expect price unable to continue higher, and breaking down out of pattern to fall further! If price decides to break below our bottom leg, this will supplement my GBP/JPY Bear Sequence...
GBP/USD is starting the week off with what looks to be a possible Double Bottom!! Price was unable to continue further down creating a Higher Low than the previous Low created on Thur. Sept' 7th. With price currently pushing higher now, what can be expected is for a Higher High to be formed where price NEEDS to break 1.25142!! *Price breaking and closing above...
The end of last week left price coming down towards the Low created on Wednesday Aug' 23rd (Point A) and tested again Friday Aug' 25th after a failed Higher High on Wednesday Aug' 30th (Point B) These Lows happen to be right at the Highs created the 5th and 6th of July! After seeing the failed attempt to go higher off that push creating a Lower High giving the...
My outlook on the dollar this week is a BEARISH one!! Market specialist suggest the dollar will be on a losing streak along with other fundamental factors: PPI, Retail Sales and Unemployment come out Thurs. all with a Bearish expectancy Technical analysis wise - DXY has finally completed a Bullish sequence that was started on Fri. Jul' 14th, *What I expect is...
With price on EUR/GBP unable to create a Lower Low yesterday than the previous Low created on Wed. Aug' 23rd, I'm looking to see price go BULLISH! *Bullish Prediction- **Price MUST break above .86108, initiating my Trade Action Plan! ***Price breaking below .85237, INVALIDATES Bullish prediction. No major news events for either currency remainder of the week.
AUD/USD is moving higher after the negative news coming in for USD sending the DXY into a reversal! Currently 20 pips away from Bullish Sequence Confirmation *If .64481 is broken, it will initiate my Trade Action Plan! Entry, TP & SL TBD!!
Price is currently stuck in what is referred to as a "Falling Wedge" Price bounces between a falling resistance and falling support into a pinpoint position where it is forced to break either resistance or support *In this case we are witnessing a Falling Wedge pattern forming after a Bullish move so we should expect price to give us a BULLISH break to the...
AUD/USD is currently forming what looks to be a Double Bottom Pattern. Price was unable to extend lower past the low on Aug. 16th and is now moving up! The second "bottom" of this potential Double Bottom terminated in my Fib Kill Zone furthering my confidence in this analysis in deeming this a High Probability Pattern! If price can break above the .64881 level,...
USD/JPY failed to make a Higher High and is looking to go lower. Here is my Target and my reasoning and work. SL and Final TP will be updated as time goes! Stay Tuned