Reasons for long: 1. Completed 5 legs of Elliott Wave 2. Break of trendline ress 3. RSI divergence 4. Break of previous high 5. Volaility (large wicks) Price is currently consolidating around the 50% fibonacci level (low volatility) and hovering just above the Moving Averages - stops will be moved if price breaks to the upside.
USDCAD weekly chart A setup like this doesn't happen often, so when it does I take advantage of it. Bearish Evidence: 1. Price breaks long term trendline supp (now ress) 2. Price pulls back to value and creates two high test candlestick patterns 3. Price rejects 50 ema 4. Price rejects weekly / daily ress @ 1.277 I'm expecting price to reach over the coming...
Chart: Daily Trend (D): Bullish Strategy: Power Trend (Swing Trade) Bullish Evidence: 1. Price has formed higher lows (red circles) 2. Price rejects weekly trendline support 3. Price rejects daily support level @ 0.99680 4. Price broke above daily trendline resistance now turned support 5. Two Low test candlestick patterns rejecting 50 EMA (Green...
Chart: 4 Hour 4HR Trend: Bearish (below 50 EMA) Dominant Trend: Bullish (D, W, M) Bearish Evidence: 1. Daily chart shows price completing the peak of the right shoulder ( head & shoulders pattern) 2. Price breaks trendline support on 4hr chart - now due to retest trendline resistance 3. Daily chart shows three inside down candlestick pattern...
Chart: 4HR Timeframe Trend: Bullish (D,4HR,1HR) 4HR Chart Price has rejected the 50 EMA and trendline support forming a bullish low test candle (Bullish Pin Bar) - Price is also forming higher highs. Upside target set for 83.00 which is an area of consolidation. Stops placed just below Daily & 4HR support 81.200. Pablo Santander www.instagram.com
USDCAD is looking mighty bearish after breaking trendline support level on both the 1 Hour and 4 hour chart. Will be looking to exit the position @ 1.33 or sooner depending on price action. Pablo Santander www.instagram.com
Chart : Daily Time Frame Market Trend: Bearish Dominant Trend: Bearish (D,W,M) Bearish Evidence 1. Pull back to 50 EMA with a bearish candlestick pattern at this dynamic resistance level 2. Price rejecting daily / weekly resistance level 3. price is forming a lower high relative to previous high found on 4th Nov candle
Chart: Daily time frame Market Trend: Bullish (Daily) Dominant Trend: Bullish (D, W, M) Bearish Indicators 1. Price closed below monthly/weekly resistance level @ 1.01800 2. Monthly chart shows a high test (pin bar) & double top candlestick pattern 3. Weekly chart displays a doji candle within an inside bar + the proceeding candlestick gaps lower and is...
Chart: Weekly Time Frame Market trend: Weekly (Ranging) Dominant trend: Slightly Bearish (Monthly, Daily) I want to keep things simple here and focus on the weekly chart as it offers better sense as to the direction of the market. 1. What I see, is price ranging between two (daily & weekly) key levels of support ($1279) and resistance ($1362) 2. Period of...
Chart: Daily Time Frame Market Trend (Daily): Bearish Dominant Trend: Bearish (Daily, Weekly, Monthly) Bearish Indicators 1. Tweezers tops rejecting 1.452 daily/resistance level 2. Price rejecting & closing below 50 EMA (dynamic resistance) 3. Price has broken support @ 1.452 and pulled back to value (Ideal short entry) Notes: Based purely on the...
Chart: 4HR Time Frame Market: Bullish (4HR to Weekly) 1. Triple top on daily chart 2. Short term trendline support break 3. Double top candle stick pattern on the right shoulder of H & S pattern + high test candle 4. Head and shoulders pattern 5. Daily price action rejecting weekly & monthly dynamic trendline resistance (Above the H&S pattern) Note: An ideal...
Chart: Daily Time Frame Market: Bullish 1. Incomplete Bullish Flag chart pattern 2. Price rejecting key weekly/daily resistance @ 1340 3. Spinning tops candlestick pattern rejects resistance level @ 1340 4. Downward sloping trendline acting as resistance (price rejects trendline) Note: I'm short term bearish on this pair, but long term (monthly chart) I'm...
Chart: 30 min time frame Market: Bearish 1. Daily trend is bearish with price below 50 ema 2. Daily chart shows high test candlestick rejecting 50 EMA + res level @ 102.4 3. 1 Hour chart has price pulling back to 50 ema, and rejecting dynamic resistance (critical to my entry criteria) 4. Price rejecting trend line resistance on 30 min chart
Chart: 1 Hour Time Frame Market: Bearish 1. Price rejecting 50 ema on the 1 hour chart 2. Bearish Engulfing candlestick pattern 3. Overall trend is bearish on 1 hour, 4 hour and daily chart 4. Price decelerates @ 50 EMA - adding weight to a short bias
Chart : Daily Market: Bullish Bearish Indicators: 1. Monthly chart displays deceleration pattern with price rejecting 50 EMA - overall trend is bearish 2. Weekly high test candle rejecting 0.73 major Daily/Weekly resistance level 3. Daily double top (blue circles) + high test candlestick pattern 4. Daily trend line acting as key resistance level Agree /...
Chart: Weekly Time Frame Market: Ranging / Consolidating Long term, I am bullish on this pair due to the Diamond bottom chart pattern forming on the weekly chart. Will look out for bullish evidence around the double bottom (weekly chart) formed on the 11th of July 2016 or a bounce off the weekly trend line acting as support. Bullish Indicators 1. Diamond...
Chart: Weekly Time Frame Market: Bullish Notes: AUD/USD is showing an interesting descending H&S chart pattern on the weekly chart. Since price has broken and closed above the neckline from the 8th - 12th of August, we're now looking to enter long positions on this pair as it pulls back to either the 50 EMA (on the daily chart) or the resistance zone now...
Chart : 4HR Market : Bearish Great risk reward ratio for this pair.