Pipsmiths

Pipsmiths

Price is still in a over all bearish market with the RBA cash rate decision looming around 12:30am on 6/6/23. Currently price is retesting a bearish flag pattern on the daily and forming a DBL Top on the 4hr. I am anticipating that the RBA will not increase the rate thus a deep move down will occur. Imbalance on the daily around .64000 could be fill....

Pipsmiths

both the weekly and daily are bullish so the overall trend is bullish price is above all the MA on daily as well daily tf forming bullish flag non farm employment was better than expected waiting on break of up trendline of flag and close followed by bullish confirmation or retest of broke trendline for entry. target pretty big based on daily imbalance that...

Pipsmiths Updated 

Liquidity has been swept sell side imbalance filled 4hr doji

Pipsmiths

We have seen a run on the dollar swiss back into a previous level of support. However the over all trend is still bearish imo. The pullback has created a potential lower high. There is a divergence in that we have a long legged doji candle coupled with high volume (a signal for a reversal) we are also starting to see an evening star candlestick pattern forming as...

Pipsmiths

Daily HEAD AND SHOULDERS , CPI greater than forecasted on USD as catalyst. Wait for break of neckline

Pipsmiths

The daily is forming a head and shoulders prepare for the downfall

Pipsmiths

Breaks of structure to the downside, equal highs on 1hr, choch with bearish momentum on thursday, some what decent news for the dollar today. shorting AUDUSD

Pipsmiths Updated 

Although we are still bullish on higher timeframes we could see a retracement before heading back up. The 4hr timeframe showing a impulsive bearish move and forming a lower low. If we get a break of structure and a retest of the green 4hr levle then we can look for a short portion for about 85 pips into a significant structure area.

Pipsmiths

Hello fellow traders. What a ride AUDUSD, has been on. Its the ebbs and flows of the market. In my opinion, I personally see this pair still in an overall bearish trend. However, on the 4hr timeframe we are seeing bullish movement with a strong bearish pullback of late. However the black horizonal lines represent the daily trading rage and if we are to stay short...

Pipsmiths

Hello Traders, This is just my personal opinion about his pair and what i see and anticipate happening. On the daily chart price broke the blue ascending trendline with an impulsive bearish move. price has since tapped into to a previous level of support around .71600. the overall market is bearish but is showing a bit of sluggish bearish momentum, which based on...

Pipsmiths

Price broke below ascending trending line (blue dash line) and is now retesting that same broke trend line. Right now as I am writing this analysis we are seeing a liquidity grab and sellers are being taken out. We need to wait for a confirmation candlestick pattern...possibly a evening star pattern on the 1hr chart for an entry. First target will be the light...

Pipsmiths

In my opinion AUDUSD has reached an apex and should fall from here. We are seeing a rising wedge, couple with an order block in the yellow zone. My overall target is .72000.

Pipsmiths

Hello traders, Taking a look at U/J, we could have a potential short opportunity. Price has been a sideways pattern for some time now and we have retested the blue box (daily structure) for a third time where the bulls are showing exhaustion. On the 1hr timframe you can see a double top forming and I expect the blue box to hold and then a break of structure and...

Pipsmiths

Hey traders. Good afternoon. What I am seeing on the chart are quite a few confirmations. 1. Uptrend 2. pullback into broken resistance, broken descending trendline, testing 38.2 fib. 3 order block and accumulation occur in the same area where all the for mentioned confirmation are happening I think would run up t .75000 possibly .76500 Waiting on breakout,...

Pipsmiths

Hello traders. I have been watching this pair for some time now. On the higher timeframe (daily specifically) price broke an ascending trendline to the downside. Price tapped into the 1.33000 psych level and had strong reaction and few days later we saw a pretty strong second reaction. We are in a short term bullish correction that will fill the 4hr imbalance,...

Pipsmiths

Sorry for the late post. However, i noticed this harmonic pattern forming this morning and immediately entered. This bearish pattern is inline with the overall bearish trend. I expect it to fill the 4hr imbalance before a correction and then it will continue it's downside movement. My first target is 0.71000 psych level. This is just my opinion and is in not...

Pipsmiths

Neckline of Head and Shoulders retested 96 pips goal

Pipsmiths

USDCAD has been a range for quite some time. However, that range was broken yesterday, to the downside. We got our retest of broken support and now we are in a short position , looking for 157 pips on this move. We have the 20 MA cross over the 50 MA and we have a nice up wick. This is just my personal opinion. Happy Trading!!!!