


TheOzarkTrader
Rejecred major Psychological Level on the weekly TF Straight to reversal. Perfect 2168 Fibonacci and Price Cluster Relationships to confirm Downtrend trade. Simply trading the new downtrend
The Reason for this idea to be published seems like an Obvious Price Cluster Price action rejection last week Circled in Yellow... Also there was alot of discovery coming from the OIL discovery in Bahrain to the Dollar giving back gains because of NFP. I believe now there will be further continuation to the downside due to a Strong Bearish DXY Trend to further...
I believe we are now finished with the channel which was one of my first reasons for Shorting USDCAD. There are many reasons for the short from my stand point. The Case was built based on the premise of Head and Shoulders formation including the bounce from my price cluster @ 61.80 & 23.60 which made that area a strong sort of resistance. After the rejection...
Technical show that we are in a Downtrend as of current there is Market Turmoil and that is a big Indicator and Trigger in my personal analysis to sell the Market. Anytime there is Market Turmoil Most avid investors Turn toward JPY as a Safe Haven to protect investment and interest.
EURAUD in the beginning took a while to continue to its reversal. The Major Reversal Zone that I see is on the weekly time frame reaching Long time Highs, which was Previous Support in 2014 - Now is Current resistance. On the note of the trade what I am looking at is the RED Lines are my reversal zone lines. I also have overlapping Fibonacci Retracement levels...
From I see is a long Scenario from a Simple breakout. Retest in progression.
Current status of EURAUD _ There is a possible Short scenario due to a major reversal zone. The following confluences confirm my bias. - Harmonic Pattern - Obvious Bearish Divergence on RSI comparative to actual Chart. - Look Left - Major Support was previous Now Considered Resistance. - Gap @ Price Point 1.43317 Which matches with the C leg of the Harmonic Pattern.
From Current Price I see a buy scenario playing out as a SNACK trade too the 61.8 retracement level... This is a short term LONG. Confirmations are as Follows. Double Bottom Butterfly Harmonic Pattern Wicks to the Bottom Oversold RSI - Also Confirming the Double Bottom pattern as well as Divergence to the upside. Major Support line Looking left at Market Structure.
Fibo Level 61.80 confirmed on the Daily TF Bearish movement is in Momentum. - Another Major Level >106.50 was touched and confirmed as resistance - Weekly TF confirms to me through Volume of Bearish Candles to continue to the Downside. Entry Level Ideas >106.500 - 106.400 If trade is entered the following is used for risk management. > 106.883 for a...
Broke 8800 Major Level, to SUPPORT - (7550) Quarter Level. (7550) Is the nearest Major Support zone. Awaiting a dead cat bounce from (9145) - Entry Level - Broke Ascending trendline> the Idea is that, Once it bounces from Entry that it descends to levels of interest >8325 >7550 Another Confirmation is the GDAX order book shows many orders at the (8900) level...
From the current levels A short looks favorable. How ever further analysis is needed. Will keep you updated.. LOL now that I know how to use Trading view haha.
This is my first publishing, How ever viewing from a Top down perspective and looking at the over all trend. A Harmonic Pattern was Spotted on the 4 hr and matches all signs for a Long. Disclaimer * I am not a financial adviser and Trade Ideas are opinions of Market Movement. This is just from my bias of course Bias and Market Movement can change at any given...
Currently Neutral Bias, Waiting for the break out to the upside, Looking at the RSi it is currently showing Divergence to the upside, I will keep this trade updated. Thank you for your patience. More great trades coming! Keep following and Feel free to Comment!
Long term buy strong support and strong upward channel.
Understanding that there are 4 data points in this upward channel, what I'd like to see is a break above Most recent RESISTANCE or Break Below strong channel SUPPORT> More than likley the trend will continue in the upward direction seeing as there are more than 4 data points HH's and HL's As of current my bias is neutral/Long... Update Pending
We find that the trend had a 61.8 retracement and respected well with the weekly downtrend further breaking an uptrend trend line, and Channel on the daily TF to the downside further indicates a downward movement. Happy Trading Fellas.
Strong channel break now results in a trend to the downside, Very strong signs of healthy down trend. Entry was 1 candle close outside of strong channel. Expect continuation to levels as follows 105.000 -- 102.000 -- 100.000. If you have other analysis different feel free to comment.
200 Pips Profit. Education is available