g2-rockach

g2-rockach

Next week I will be looking for price to possibly come back and retest the daily break out area. If it does I will be looking for candle confirmation on smaller time frame 4 hr, to determine if there is reason to enter.

g2-rockach

Not a trade I will be taking as off on holiday this morning. However could be a nice opportunity if price breaks above red dotted line on the hourly chart. if we get a break above, then price should get to the 23.6 fib level, which is also an area of well held previous support. I think there will be resistance at this level.

g2-rockach

Support level at 1.5700 is holding up and has kept the pair in a range for a month. Overall the trend is downward. I will be keeping an eye, as I am favouring this support level will be broken fairly soon. If there is a close below support on 4hr chart, I will look for price to retest and look for confirmation in way of bearish pin bar or bearish engulfing...

g2-rockach

NZD/CAD at a significant area which can be seen from the weekly chart. On the daily chart it is looking like the previous well held support level has broken. I will be looking for price to break below the doji to confirm this as a valid entry. Stops can be placed above the previous support area or above the high of doji, depending on your risk. If we get a close...

g2-rockach

On the lower time frame we have had a break of the neckline of a H&S pattern on Friday. Looking from the daily chart we have an area which possibly will provide a support area. We also have a round number 0.90000. This is proberly what helped to create the reistance area. Overall the trend is now upward on daily chart. Trading is all about stacking up the...

g2-rockach

If price fails to break below the neckline, then we may have a bullish continuation pullback. if price breaks below the neckline, we may get a pullback and then potentially push down to C point. C point is at the level 1 and offers a good support area. Also it is the same distance of the head to neckline. At the moment I will sit on the fence and wait.

g2-rockach

Good risk to reward if price gets up around the 0.91000 area again. Stop loss placed above the head. On the daily chart this is also a completed Bat battern.

g2-rockach

IF it can push above the 61.8 fib, could be on for a Gartley ?

g2-rockach

I am thinking that price will continue down to the area of previous well held support. This level is also at the fib level of 161.8 of the move. For pattern traders this would be a Bullish butterfly completion. There is good reason to think this level will hold for now. If so I expect to see it look to retest the prior area of support. In regard to trading this....

g2-rockach

Trending down on Daily chart. Price action retracing into an area of previous support which coincides with the key 61.8% fib level and trend line. Bearish dvergence present on 4hr RSI Plan: To wait for a reversal candle signal, if price action hits this level and short position. Aggresively, sell at price hitting the 61.8 fib.

g2-rockach

Euro showing bearish divergence as it approaches the 61.8 fib level. Previous areas of support areas around the level.

g2-rockach

Major long term support around the 101.200 level.

g2-rockach

Good support/ resistance from previous around the possible completion area.

g2-rockach

There is possibly a good opportunity to short this pattern IF it gets around the 161.8% fib. if you switch to the 4 hr chart, you can see it falls at the 61.8% fib of the high & low of the 4 hr chart. This in itself is a good enough reason in my opinion to short. Also some previous areas of support & resistance at this level. This would give an excellent risk to...

g2-rockach

Possibly coming down for a retest of long term trend line??

g2-rockach

The GBP/AUD are currently in an upward channel. The 86% fib level is falling around the bottom trend line. Some clear previous support and resistance levels also around this level. Plan: To monitor on smaller time frame if price starts to move toward the 86% fib area. Long position at the 86% . Stop below the X leg. To be aware of any data coming out. Aware of...

g2-rockach

Euro in a downward channel with the GBP. 76% fib of the Cypher completion leg should be on the trend line. Previous areas of support/resistance can be found at this level also. The Stoch is starting to show signs of divergence. Plan: If price manages to break the 61.8 fib, a short order placed at 76 fib with stop above the X leg.

g2-rockach

86% fib of the pattern is near to falling trend line and on the R1 pivot point, also Stochs in overbought area. Euro data due out soon so being cautious until after release.