thetraveltrader

thetraveltrader

The neckline of this H&S pattern has finally snapped. Daily 50ema and trend line has currently stopped price in it tracks. Further short positions can be taken upon a retest of the neckline. When price breaks the Daily 50ema, this thing will fall out of the sky! Plenty of downside to catch in my opinion..... Instagram: @TheTravelTrader...

thetraveltrader

Price has rejected the 4 hour 50ema, intra day support at 55.15 and the counter trend line with a huge bullish engulfing - can we expect a push to the upside from here? A break above the previous high will confirm long positions. As a result we will naturally see some CAD strength. If price fails to break above the descending trend line and previous high -...

thetraveltrader

If we pay attention the higher time frames we are overall bearish with price failing to make a new higher high on the Daily TF and failing to break above the 78.6%. Price has currently formed a triple top at resistance of 1.3340 which indicates the bears are defending this area. Aggressive traders could take a more speculative entry at the top before price...

thetraveltrader

Since price rejected 1.49250 and the 78.6% Fib, we have seen a nice sequence of LL's & HL's forming with price being capped by the counter trend line. The Daily time frame is looking like it's under pressure with multiple wicks to the upside indicating the bears are defending this area nicely. Our first confirmation was that we saw a break below market...

thetraveltrader

We have multiple confluences for potential short trade on this pair. Confluences are: 4 Hour Shooting Star rejection of 4 hour 50EMA, counter trend line, market structure (0.9190) which aligns perfectly with the 61.8%. PLUS, we have a head & shoulders candlestick pattern developing at the top of structure which have proven highly successful across other EUR...

thetraveltrader

After several attempts to break the 1285.00 level, we finally saw the push Gold needed after what felt like weeks of consolidation.... Will we see a break or retest of 1295.00? Let's see if Gold can push higher towards it's next level of resistance.