Technician

Technician

CHFJPY is threatening the mid channel support, showing some serious bearish action, but I will be waiting for a clear break with stability below 114.73 support, the key to confirming this bearish scenario. That would suggest a move to 111.68 next key swing low and support level as an initial target. Followed by the main ascending support for the rising channel....

Technician

In my previous analysis(see link below) for the pair I was looking for a new bearish wave of the resistance zone market above, indeed the price successfully retested and resumed the bearish wave, evolving to a bearish head and shoulders top pattern, and completed the pattern by breaking below the upwards slopping trend line. Accordingly, upside pullbacks remain...

Technician

Update: closed trade at 100, 40 pip loss. Profit(pips)=-80. I Bought WTI Crude Oil on a break above the key confluence resistance levels near 100.40, price has broken that resistance then retraced to retest it , provided me with a good entry point in terms or risk-reward. Am long at 100.40, target one at 101.30, target two at 102.10, with a stop at 99.70...

Technician

Update: Stopped out on this one. Profit(pips)=-70 Following on my previous analysis in the link below, i am looking for a short term bearish wave as price could be forming a potential pin bar near the neckline for the broken head and shoulders. For further details check the link below. Good Luck, Join me...

Technician

XLY is an ETF that tracks the consumer discretionary sector, which is an offensive sector that takes the lead in risk-on, growth-on environment, Alternatively, XLP tracks the consumer staples sector, which is more defensive as it consist of large companies selling products that is widely essential to consumers, and thus has a more stable revenue stream, and thus...

Technician

Profit(pips)=+145+148=+293 Update: Closed second half at 0.9373= +148 Update: Hit first target Update: Reached more than 90 percent of first target and therefore moved stop loss to break-even. In my previous idea, I was waiting for a retest of the hot support zone i mentioned among 0.9200-0.9250 to go long,(please check the link below). Indeed, price provided...

Technician

Profit(pips)=+210 Update: Second half was stopped at break-even. Note that there still a good chance for price to head higher again. Update: That was faster then i anticipated :), hit first target, moved stop to break-even See link below for the original trade Update: Trade is active now, although i broke my rules as i always cancel the trade if price reaches...

Technician

Waiting for a potential trading signal here. Explanation: The price is trading within a sideways range illustrated on chart by the rectangle box among 1.0945-1.0550 areas, where price hit the upper ceiling of the range before retreating lower again, a break back below 1.0735 support area would confirm a head and shoulders top pattern, and i would be shorting...

Technician

Tracing price action since March 25 bullish breakout: -Bullish rally extended on Inverted head and shoulders breakout. -Price hit 0.9280 resistance level, showing pin bars at resistance - pullback was shallow towards 0.9200 -The price broke above 0.9280 confirmed 0.9337 and 09445 upside targets. - Price was rejected at 0.9445 resistance, hit my downside target at...

Technician

-The price completed a minor double top pattern around 1.0315 resistance, which was market as a resistance through the high of the shooting star candle recorded in late March, -A bearish divergence on RSI momentum confirms the bearish bias. - The price retested the rising trend line for the latest bullish wave, before bouncing to retest the broken neckline at...

Technician

Update: Price retraced again to test 1280.00 level, had a new opportunity to long 1)Multiple crossover above and below the moving averages indicates a bias-less market, sideways bias is favored for me, 2)Testing a major horizontal support area, 3)being rejected strongly 4)potential bullish divergence on Momentum I will long anywhere near 1280 targeting 1300...

Technician

Looks like the euro is getting kicked on the head :) ! Major selling pressure. fails to maintain the upside, doesn't look good for the euro. If price manages to regain the upside and break the highs of those pin bars that would hint renewed strength Just an observation, no trade levels nor target for now. Good luck for you and me Would be happy if you join me...

Technician

I am not so excited about the rebound, as we have seen this pattern before. Key over-head resistance is the main falling trend line for now, which will probably push for another deeper leg lower. A break above that resistance may signal more recovery, although i still see no savior for the cat :D I remain bearish on BTC looking for new lows. No hard...

Technician

April 13 Update: In my latest updates provided in the related links below, I was looking for a potential move lower, Indeed, price headed sharply lower faster than i anticipated, to retest the main and major support at this area. Note that despite the sharp selloff we are still in the sideways range illustrated on chart, and therefore, the bias remains neutral for...

Technician

The price had an impressive rebound on Thursday and Friday, ending the week almost even after the earlier strong sell-off. That rejection hints renewed bullish potential, as price formed a weekly pin bar candle at a previous high and support level. I will look for long opportunities over the lower time intervals targeting 1.1060 then 1.1180. A break below 1.0853...

Technician

AUDJPY is showing bearish price action in my view, as price failed to hold above the latest major swing high at 95.67 forming a gravestone doji candle, before dipping back below that level. The following bullish attempts was also rejected sharply forming a bearish shooting star. Such price action could be telling price is heading for more downside, or at least a...

Technician

AUDNZD could be in the process of bottoming, as price is trading sideways for now, breaking an inverted head and shoulders pattern indicating we may see a retest of the main resistance for the sideways range at 1.0914 to 1.0946. However for a bottom to be confirmed a break above 1.0946 is required. A break back below the neckline of the IHS at 1.0725 will...

Technician

The price touched levels near the 1.618 retracement level before forming a long-legged doji candle, which pushed price higher on Friday, however price has retested the near term resistance at 1.4830 which is the first level i will consider shorting at, targeting the recent swing low at 1.4650 level as as a first target. Closing a Four-hour candle above 1.4850 will...