Short this pair. H&S pattern, neckline broken, currently retesting the neckline and bouncing lower.
USDMXN breakdown using ICT's concept (Optimal Trade Entry).
Double top formation, break of neckline, looking for the retest and then short.
Starting from the daily chart: Price is trending up and retested support +/- 0.8800 which coincided with the 50 ema. Looking at a lower timeframe, the 4hr, you'll see price broke through a resistance level and is now retesting this zone. This zone now becomes support where we might see a bounce higher. Possible entries could be at a fibonacce retracement...
Possible Break Retest on NZDUSD. Waiting on confirmation price will hold this level and bounce higher.
The FTSE100 (UK Index) broke below support around +/-5970. This level now becomes resistance. Rallies into this zone can be used as a shorting opportunity. However, this could be a false breakout, and a close above resistance will invalidate this setup.
This pair has been in a solid uptrend until so far. Looks like we are currently facing some resistance around +/- 137.34. Any pullback into the +/- 136.20 to 136.45 can be used as a buying opportunity.
Again a break and retest on NZDUSD? Could be a nice short
Price so far has been moving nicely in this upward rising regression channel. The last time it tested the bottom of this channel (around +/- 0.8950), we had a nice bounce to the upside. Zooming in on the 4 hour chart, we see the bottom of this channel coinsides with previous support around +/- 0.9000. I'm looking to establish a long position after a confirmation...
Looking at the $index we can see it has reached on both the long term and short term RSI settings overstreched levels. On previous occassions this has resulted in a turnaround on the dollar. So, what does this mean: the probabilities of the dollar going higher are more likely, than it continue to drop. Can it go lower? Ofcourse, it can drop like a brick. But I...
Looking left you'll see that stops were taken out, before a big move down. We have the same scenario here again, where stops lower were taken out. So I suspect we will see a big push up now, especially since the $index is also at key support now
Looking left you'll see that stops were taken out, before a big move down. We have the same scenario here again, where stops lower were taken out. So I suspect we will see a big push up now, especially since the $index is also at key support now.
And my final chart for you guys on EG. To me this is still in a nice upward regression channel. The lower band of this channel is +- 0.8980 at this moment. So a retracement to that level, i'll be looking for a long opportunity. Zooming in on the 4hr, we see the 200ema, previous support merging and the bottom of this reggression channel holding nicely. Looking...
Keeping an eye out on the 1.28 level on GBPUSD. We have previous resistance, and a trendline coming through at that level.
Just to update this trade idea: looks like we had a nice rejection from this trendline/neckline coming together Update on this trade setup: after the break of that h&s pattern price has moved somewhat against me pushing into those trendlines, but finally it's showing some movement to the downside. I'm now waiting for a break of 0.8856 to confirm this wants to go lower.