Snorkel_Sucker

Snorkel_Sucker Updated  May 27, 2022

Looking left, we have identified areas of support and resistance and can see that we have broken through with a strong impulse move, the most recent resistance zone - this zone also acted as a consolidation channel during late April and early May. We are now waiting for price to retrace back to what we anticipate will become a zone of support. We will review the...

Snorkel_Sucker Updated  May 26, 2022

Looking left, we have identified areas of support and resistance and can see that we have broken through the most recent resistance zone. We are now waiting for price to retrace back to what we anticipate will become a zone of support. We will review the Fibonacci retracement levels of 0.5 and 0.618 to identify an entry target for a long position. Both the 21...

Snorkel_Sucker Updated  Nov 18, 2019

Potential double bottom on the 1d chart. Price has retraced back to a level of previous support (looking left we can see multiple touches of this zone). Looking for a higher high higher close candle to confirm further move to the upside to test previous resistance.

Snorkel_Sucker Updated  Nov 14, 2019

Having just pushed through a resistance zone, we are currently retracing back with the potential for a continuation to the upside.

Snorkel_Sucker Updated  Nov 14, 2019

We have identified a series of new lows, so predict that a further move to the downside is on the cards, with a re-test of the previous low set as our target. Using an ATR based stop above the previous high, we can retrace back to establish a minimum 1:1 entry. Look for a lower low lower close candle in the red zone as a signal for predicting the move lower.

Snorkel_Sucker Updated  Aug 6, 2019

On the daily chart we are in a confirmed downtrend (as denoted by the proper order EMA). We are looking for a lower low lower close candle in the red zone with targets set to a re-test of the previous low. An ATR based stop above the previous high has been used and a fib retracement back to the previous low allows us to target a 1:1 setup, as denoted by the green...

Snorkel_Sucker Updated  Aug 1, 2019

Looking at a bearish trend continuation on the 1HR timeframe. Using an ATR based stop position above the recent high and a fib retracement to map out a minimum 1:1 trade. Wait for a lower low lower close candle in the red zone for confirmation of entry and set targets at a re-test of the recent low at 71.50.

Snorkel_Sucker Updated  Jul 22, 2019

Looking at the higher time frames, there is certainly further downside potential for this pair. On the 1hr chart we're looking at a re-test of the previous low with our entry signal being a lower low lower close candle in the red zone.

Snorkel_Sucker Updated  Jul 18, 2019

A head and shoulders formation on the H4 and H1 charts has formed. Looking for a confirmation signal of a continued downtrend in the form of a lower low lower close candle in the red kill zone. Targets set at a re-test of the previous low and a fib retracement used to determine a minimum of 1:1 risk reward.

Snorkel_Sucker Updated  Jan 2, 2019

Potential Bearish Cypher pattern lining up on the 1hr CAD/JPY. A, B and C legs have all lined up so looking for a D leg completion at the 0.786 retracement.