Short Term trade short for correction and after correcting following the upside trend
I`m looking forward to see a short term price drop on EURCAD. I´ll try to enter the trade, when price creates the 5th (e) wave and will set a stop/loss above the recent high. The target will be the supply zone
I just entered a short trade on EURJPY with a lot of potential. I set the SL above the 61.8 Fib level from previous drop
There is a high possibilty that we will retest one of the both lows before the price will retest the monthly Demand area. I will enter one short term and one long term trade with SL below the lower wick
I think BTCUSD will make a major correction before we see the next bull run. In my opinion, it is quite possible that we will see the price again between 20k-25k
XAUUSD created a Bullish bat Pattern inside of a bearish correction. On the Daily/weekly gold is in consalidation between my green zones After the last bullish impulse leg price formed a bearish corrective flag. Inside this Channel price also finished a bullish Bat Pattern for another bullish wave Inside of the corrective structure.
Price broke the downside of the bullish trendchannel I exspect a small reversal to 0.73000 zone before making another bearish impulse leg down to 0.71500 zone
For the next week I have a lot of conlfuence that GPB/USD will be bearish 1. It´s in a corrective structure on the daily 2. It broke the Bullish correction in this structure to create the 5th wave 3. Head and Shoulder Pattern on H1 already broke neckline 4. Possible reversal to 1.31700 level to create a Head and Shoulder pattern on H4 chart 5. RSI strong bearish...
Price came into the last structure high of the Bullish move and rejected. Price will rise to 1.32400 to complete the Reversal Flag pattern
After USD/CAD broke through the downside of the Triangle it may retest the psychological Level 1.30000 and will continue to 1.27300 or 1.25350
Price is in a reversal flag pattern. if price reaches 100.950 again and won´t brake thorough the zone it creates a double bottom. For me a good setup to go long for TP @ 101.650 and SL @ 100.600 with a RiskReward about 2.4
Looking on daily and H4 chart: 1.Price couldn´t make a new high 2.Price is at Trendline 3.Bullish correction Wedge pattern in overall Bearish Trend 4.Divergence on RSI 7 5.Fibonacci 61.8 Level 6.Engulfing Candle on Daily
After break through the upside of the Falling wedge Price retested the 79.100 zone. To complte the wedge pattern price will rise to 78.800 zone
Market came all the way down to the 100.500 zone and rejected strong. Right now it´s in phase1 of a bullish movement. If Price cant pass through 102.000 zone, I´ll go for a buy with TP1 @ 102.650 and TP2 @ 103.300
Broke Though the zone at 1.10950, now Retesting and will drop to the 1.09700 zone
Looking for a potential Buy opportunity. Market respected the Triangle 5 times and now should be ready for breakout. I´ll buy now with TP at 1.28900 and looking for a continuing after breakout
Price couldn´t pass through 0.76600 area. Long wick into Demand zone. Divergence on RSI 7.