Shingi_Lesetedi

Shingi_Lesetedi

Price has rallied up to 9.32415. We might see a reversal to the downside, ideally after the support trend line is broken.

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USDJPY is trying to push above resistance while at the same time Gold is trying to push lower below support. If they succeed we're looking at LONGS for USDJPY and SHORTS for Gold. In case the opposite happens we'll be looking at SHORTS for USDJPY and LONGS for Gold.

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This pair has been rallying to the upside for the past few days and has arrived at level 125.446 where it has been rejected twice. If price breaks and forms a higher high might indicate more upward move potential. If price is exhausted, it will break below the support channel and rally to the downside.

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We can see a strong potential reversal opportunity with both the bat pattern and the head and shoulders. We might see the bears pushing price considerably lower.

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Possible mirror image formation on silver as illustrated.

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Gold has completed forming the head and shoulders pattern which has been forming for the past few weeks. Price has broken the neckline but just below it there is a support level 1282.31. For a more conservative entry one might wait for this support to be broken as well.

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Gold looks like its preparing to sell off lower. It has formed the left shoulder and head. Once the right shoulder completes and the neckline is broken we could look to sell Gold.

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We've been seeing price stuck between a range as of late. Price is currently at support and we saw a strong rejection at price point 2.725 when price attempted to break lower. Provided price continues to hold the support area we could look to go long all the way up to 2.881.

Shingi_Lesetedi Updated 

A descending triangle has formed on the 1hr chart. Price might continue to break lower possibly all the way to the demand area around 2.772.

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Bullish shark pattern has formed on USDNOK. Potential long setup is shown in the chart.

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In the past hour or two we have seen some very big moves on the 1hr chart in most if not all USD pairs. The four I'm sharing are just for reference. Some of my setups were invalidated due to these moves, others accelerated. Did you see these moves coming? What will the market do from here? I think the FOMC meeting had great influence.

Shingi_Lesetedi Updated 

USDCHF is reacting to a major support zone which appears to be holding strong. I think price will begin a rally to the upside possibly all the way to 1.01154.

Shingi_Lesetedi Updated 

Price has broken below support area 1.03736 and has come back to retest this area before trading lower. This has formed a bearish flag pattern which means price might push all the way to 1.02869 and maybe even further. There are some long wicks on this chart which means some order pockets could be hidden anywhere in between so trade with caution.

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Supply pocket has been hit on the 1hour EURJPY, has broken the trendline that price had been trading along and looks to be coming for a retest before selling off lower. If price builds momentum and starts making lower highs this could be a good short opportunity. You can plug in a 20MA and wait for price to close below it for better confirmation.

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Dow Jones has started a strong uptrend since hitting the 394.09 level. The ascending triangle pattern indicates a possible push higher if resistance is broken in the 445.90 area. This level is also where the 200MA is also looking to be tested. If price closes above the resistance and the 200MA there could be a continuation of the uptrend.

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Clear head and shoulders pattern formed on the Daily chart followed by a strong break of the neckline. Price however stalled at 1.34682. This might be a corrective more or retest of the neckline before price pushes further up.

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On the weekly chart we see an ascending triangle. Price is stuck within a range but as of recent has been continuously challenging the 1.00968 level. From my point of view two things can happen. The buyers will exhaust the orders of the sellers at the resistance level and breakout of the triangle to rally higher, possibly up to 1.16829. The buyers will...

Shingi_Lesetedi Updated 

EURSEK has been forming a double top pattern since last week with additional confluence of rsi divergence and has started trading lower. If the sellers can gain momentum and break the neckline area we could be looking at a very good short opportunity.