Next week I will be looking for a break and retest of my blue zone before going short to 1.5910. (The neckline of a clean head and shoulders patter where I will be looking for a break before looking for another short opportunity)
I believe we may see audusd form a right shoulder before dropping to 1.6870.
EURUSD inversely correlates with the DXY, which I put a previous post up with some analysis of a potential big drop. This would align nicely with my set up on EU. My areas of interest are marked on the right hand side and I am seeing two potential entries for this move. Price is currently approaching a daily order block and when it reaches here I will be watching...
After forming a large bearish engulfing on the October monthly close, and price breaking a daily ascending TL and creating a new lower low. I am expecting price to come back for a retest of the TL / one of my areas of interest before potentially another large drop. One thing which goes against this however is price is still forming mini HHs and HLs above my EMAs...
With the massive monthly bearish engulfing on DXY last month, all XXXUSD pairs should be good for longs over November if the set-up is right. For AUDUSD I am waiting for the break of my descending TL and a correction/pullback/retest before going long for around 150pips to my next weekly resistance level @~0.70275. Ideally I would like price, after breaking the...
I am currently watching CADJPY and am waiting patiently for price to come down for its 3rd bounce on the ascending trend line before looking for longs with massive amount of room to the upside. I have 3 areas which I will be looking for that confirmation: First @~81.70 where price meets a weekly key level, the daily 50 EMA and 50% fib retracement. But after the...
I will be looking for candle confirmation at my resistance before entering this trade.
After creating a symmetrical triangle formation and price broken to the downside, I will be waiting for pullback/retest of the triangle and 50% fib retracement before entry.
EURJPY is showing potential for some upside movement into my daily order block, with my target being the EQ. I will be waiting for a small retracement in price to around 117.90 before entering this trade. Once price has reached my target, then I will be looking for potential long term short set ups back down to 115.00 region and maybe further.
Price has broken out a 4H descending triangle at our daily support, waiting for retest before entry.
The other possible scenario for CADJPY
Set up for cadjpy short. Will wait for candle confirmation before entering as we could see a break to the upside.
After a bullish engulfing on 4H I believe we are about to see a corrective wave of about 140 pips on EU. Will add written analysis shortly...
I have entered this trade, original analysis posted days ago