Confluence: 1. Looking for price to rally back around the 114.00 level then continuing the uptrend. 2. Price hasnt retested its breakout yet on the higher timeframe (daily) 3. Key level is the weekly support 114.00 4. Head and shoulders on the 1HR chart indicating probable rally downward before continuing uptrend. 5. Probable tps
USDJPY has closed the week down a neat trendline. A bullish bar (inverted hammer) has appeared on the H4 timeframe and this is reflected also on the Daily timeframe (in the screenshot). The trend seems clear and is still trading under the EMA, even if the macro factors driving the USD might probably come into the game mid week. If we trade what we see, we can put...
I expect this trade to break down, and then back up. The pair has just bounced off of a resistance, as well as passing through a months-long trend line with conviction. Depending on what happens, I will most likely be buying this once it moves closer to testing its new supports.
Price came down and touched the middle median line as well as the support near 2250 and 50% Fibonacci retracement. Look to see what price does here near the resistance zone, but it looks like buyers have started to move price up to try to break through.
Crude Oil has been rejected at the upper trend line of the 5 month long channel. It has also broken below the past 2 months trend line and the last 2 days move can be said to be a retest of this short term break down. Important thing here is the RSI which has failed to move above 70 mark in this entire upmove. Going forward crude oil i likely to head lower toward...
Time to go long on ICICIBANK for 269, 275
currently short eurusd after a break of then trend line and rejections of strong level followed by lower low lower close. I'm targeting 1.03700 level lows
This is a very nice place to go short for many reasons: The price broke the short-term up trend. Two Major resistances that the price was not able to break either of them. The Major daily down trend & 0.5 Fibonacci level. So the it will go at least to the next Fibo. level (as well as the previous structure high) which is around 0.7250. The there is a possibility...
The structure is pretty self-explanatory, wait for the breakout to sell, the price is most likely going to touch the past trendline (It can be seen in the daily chart) please apply your own strategy for breakouts.
I think CAD/JPY will make another wave on Trendline, if make a rejection on this area and VALID make a New WAVE.. Confirm for SHORT
The EUR.USD is one currency pair on this evenings watchlist. Once my entry criteria has been met we will set a sell stop order and await a clear break.
Price is about to touch middle AR center line. Look to see if this breaks or continues to hold. We still need to break 2273 area to go higher.
GOLD May test 1091.10 After FOMC meeting, Gold breaks new low. What I can see from the chart is: Gold may go to the 1.618 Inverse Ext And also it will retest the trend line. There is also a very important structure for support.
Since venturing below the established trend line set this year, NZDUSD had retraced to 61.8% of it's last down swing. To add confidence to this trade yesterday formed an bearish engulfing bar that move price quite a bit lower. Suggested SL is above the recent high and profit targets are in the 1.272 - 1.618 Fibonacci extension area.
XAUUSD Pay attention to the Trend line break out. If today the gold doesn't break new low. and break the trend line. This may implies the gold may change the down trend and rally to 1200. So two things we need to know: 1. a break down below 1150 implies gold may further declien to 1130 2. a break up the trend line, we may want to find a pull back to long.
The price for EURGBP has retraced to the 50% level of the upward move starting late May. This could set up to be a great risk reward opportunity. With the rejection of this key Fibonacci level and a trend line break for this retrace, I will wait one more day before making an entry decision. The criteria for a buy entry here will be as follows: Today's heiken...