Candleformation
AUDJPY D1 SHORTDialy Resistance and bearish engulfing, might be good setup for short. Not in position yet, maybe looking for some retrachment up for good RR.
AUD/USD AnalysisWe have three confirmations of AUD/USD Uptrend:
1. Before breaking the monthly support 0.79250 we see that it retraced from the 61.8 Fib and now it is continuing the uptrend.
2. We see AUD / USD Daily Candle Closed above 0.79250 Monthly Support and breaking the counter trend line.
3. Moving Averages on H4 Timeframe confirm a continuation of the uptrend...
Now I expect the pair to go up at least 130 pips.
EURUSD - MULTIPLE SHORTING REASONSReasons for short
1) Daily Evening star formation at a key point
2) Weekly RSI Heavily Overbought
3) 3 Accumulation and Distribution phases complete
Trade safe and do your own due diligence before entering a trade
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EURGBP - Further Upside EUR has been bullish for a while now and there doesn't seem to be much reason for this stopping, especially with a lot of high impact GBP news this week which we expect to be negative therefore given the EUR the push it needs to run up to our TP area.
We expect the market to fall, retest the Monthly support area where we will be looking to find a bullish entry point.
LTC correction for my previous idea Weekly Chart
If you are familiar with candle stick patterns there is interesting one here which deserve attention.
This is weekly chart (my opinion is that the bigger intervals of candle stick pattern or formation are more reliable then the smaller one)
I consider “rising three method” on weekly chart as a strong suggestion for continuation of bullish trend. It is not 100% as in books but please be aware that the technical analyst has more commons with art then mathematics and it is very rare that the patterns or formations are perfect.
Fibonacci retracement at 61,8% stopped shorts and it seems like it will push pair towards north for some time. There is very strong psychological resistance level combined with GAP on weekly chart around .02000.
I would consider that the pair will go down as low as .01000 as it is trading in channel between 0.1000 and .0200.
I also placed two GAP's from daily chart which will be described in next idea.
Sold @Resistance after candlestick patternJust sold AUD/USD into the direction of the underlying downtrend.
- Price is currently trading at a major downtrend line
- Price continuously trades lower. Indicated by red & pink support lines
- 240H shows kind of triple top + Candlestick pattern
USDCHFPossible Kangaroo tail on current 1h candle!
sell stop @1.00140
SL: 1.00390 (25pips)
TP: 0.99640 (50pips)
Gap closed...Sell if the price breaks through the calculated support level (see related link). This will confirm a 5-wave move down and therefore a bigger Zigzag (5-3-5) which supports the daily chart.
If not, we will have 3-wave upward move to the near of the top, so buy! The candlesticks could stay in the "Three Stars in the South" formation. (Check the charts below for the big picture)
4H (Wish, but...):
4H (seems to confirm the daily chart, look below):
Daily:
The 5th wave in form of a wedge which could resolve in an upward move to start a correction?
CHFJPY Channel Re-test BreakoutLong setup of the re-test of the channel line
Low risk trade with stops right below previous structure at 103.90 area
USDCAD 4 HOUR LONGprice is pulling back into nice structure level which would be a good opportunity to get long. Buyers are clearly defending this level as they dont want price to drop into the area where Canada cut interest rates. I.ll be watching for a buy signal at this level eg bullish hammer or engulfling pattern. My long term target is still at 1.30 but i.ll be targeting 1.25358 for now
AB=CD completing at major structurePrice have already been rejected on Friday but there is still some momentum to the upside in place. RSI is going overbought.
Action: wait for a double top or some bearish candle formation to short
