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0.618

AUDJPY LONG TERM LONG - THE POWER OF .618!!LOOKS LIKE THE CORRECTION IS ABOUT OVER!! If we are - and i very much think we do- at the start of the uptrend we can make lots, and lots of pips. ! Here's why, the higher trendline of the BB% is almost being touched with an almost oversold RSI. The same place was back in the 99's 00's at an overbought spot but now it is heading to oversold.The last monthly candle has a very large shadow that means lots of people are intrested in buying But even more remarkable and really worth noticing on this chart/idea is the correlation of the 0.618's. in supp/resistance and its highs and lows. This monthly chat goes way back and moves in a really easy tradable pattern. The connection of all the highs and lows with the golden fibs, and targets gives me much more confidence in this trade than all the indicators together. I will keep this chart as updated as possible! Liking the chart or something wrong? Please leave a message with a like, or good or bad feedback!
Long
by JohnQuid
USDCAD SHORT- On the break and close below 4h TLI think we may have finished retracing for now and heading down. -I want a break and close below the 4h trend-line in blue here -Coincides with fib 0.618 retracement -ABCD Structure in play -We just bumped our heads on major monthly resistance of 1.4000 and held below -A lot of long wicks around the 1.4000 too -Targets as shown -Another reason why we could be coming down is look left recent support when broken becomes resistance
Short
by jackmyattFX
33
AUDNZD DAILY SHORTIM ALREADY SHORT IN THIS PAIR BUT IF PRICE RETRACES AND TAKES ME OUT OF THE TRADE THEN THE NEXT LEVEL I'D LOOK TO SELL IS AT MY CLUSTER ZONE/SELL ZONE. IVE GOT LOADS OF CONFLUENCES AT THIS LEVEL WHICH ARE THE 0.5 AND 61.8 FIB, SUPPORT TURNED RESISTANCE STRUCTURE LEVEL, MAJOR TRENDLINE, DYNAMIC RESISTANCE (50 MA) AND A NICE PSYCHOLOGICAL ROUND NUMBER (1.03000). Another confluence is this trade setup is in line with the fundamentals because the RBA (reserve bank of Australia) said there is a possibly there could be another rate cut in the period ahead.
Short
by remelthomas
1
USDJPY H4 BULLISH 0.618.. Bullish pattern observed yesterday night with the price of the USDJPY reaching new lows on the four hour chart, besides this the price did hold really well around the 118.22 support area that has been acting three times now. I left the trade to have a little more time before entering and today I entered the trade after the close of the four hour bullish candle that confirmed the morning star pattern that is leading the bullish momentum for the USDJPY now. The price is inside two channels that are forming the price at the moment, we might see a little pullback on the bearish channel using the lower floor as a support area and after this we might see the break of this channel and a bullish move that can be leaded by the green bullish channel. Target is around the 120.40 price range for this trade.
Long
by tommyjose92
2
USDCAD H4 BULLISH 0.618.. The price closed with a H4 bullish bar on the chart and with the prices reaching higher highs on the lower timeframe after the opening of the markets on london, the prices formed kind of a bullish pin bar formation with the support level being near a past resistance level that was acting on the USDCAD and that is holding together with a 0.618 fib retracement and the monthly 200 period moving average that is acting as support around 1.2316. On the weekly chart we have also the 50% fib retracement for the past two weeks that is acting as support around 1.2370. Continuing on the technical side the price closed above a bearish channel that was acting on the H1 since Monday. On the fundamental Besides the Oil prices did new highs for the year, besides this we can see that right now they reached lower lows also so they are supporting the bullish bias for the USDCAD at the moment. With the release of the Non-Manufacturing PMI today at 10:00 US & CANADA Eastern Time (GMT -5:00) this might be the fuel that drives the USDCAD higher to the past resistance levels around 1.2800.
Long
by tommyjose92
4