AUDUSD approaching Buy ZoneThere is a larger Bat pattern on the pair. We are potentially forming PtC of the pattern, supported by the Buy zone.
Potential long at the Buy Zone to trade the CD Leg
Forex100
AUDUSD H4 at a resistance level - What's nextI would like to see how the market opens next week.
- If resisted, it will probably head down towards the support levels at 0.6868
- If breaks above, it will at least head towards the next resistance levels at 0.7000/15
Let's see how this pans out next week.
AUDUSD H1 - Bullish Deep Crab completion lowerHi traders
I spotted a bullish Deep Crab forming lower at the 0.69 level
News :
- Aussie wage number came in lower than expected
- Chinese economic data losing steam
obviously it does not help that the tension of the US-China trade war is building up
I would expect the AUDUSD to continue drifting lower. Giving us the potential buy trade at the completion of the Bullish Deep Crab
GBPJPY H4 - Bullish Gartley CompletingSpotted Bullish Gartley Pattern to go long around the 141.80 levels
Will be looking to go long at these levels
However if the price moves higher towards the resistance levels (143.70/144.00) there could be an opportunity to short all the way down to the completion of the Bullish Gartley
EURAUD Bearish Bat PatternThe Bearish Bat pattern completed on the H1.
This is also a type 2 trade on the larger bat Pattern to short
GBPJPY H1 - Bullish Crab (Type 2)The Crab pattern completed about a week ago and now price is back at the PRZ again.
I like that there is a current falling wedge forming at support too.
Spotted a Bearish Shark on NZDCADI believe that the recent rally is coming to an end. Getting ready to go short on this pair
AUDUSD H4 Shark completing lowerSpotted a Shark Pattern completing lower at around the 0.7062/78 levels
This downside potential to the AUDUSD this coming week is in line with the Risk Off scenario as the S&P is seen to be breaking and closing below the support Trend Line
S&P500 showing weaknessOn Friday, the stock market opened with a gap down and continued to see down pressure the whole day to close lower. It actually closed below the Trend Line support and we could potentially see more downside early next week.
Analysing this S&P chart, I see potential risk off for the coming trading week. Let's analyse other currency pairs to see if this support the expectation
AUDCHF D1 Bat pattern completing sightly higherI will be watching this closely. Pattern only completing higher
NZDCHF - Bearish Bat PatternNZDCHF completed the bearish Bat pattern. Looking to see if the price retest the sell zone to consider a short
Alibaba - showing us the recent stock sell down is completed ?BABA completed the Bullish Crab Pattern. If you were following my earlier post on BABA (see related posts below),
you would know that I shorted this at the support turned resistance levels. Just closed that trade at the completion of the Bullish Pattern
Now I would see how the market opens tonight, see if there is opportunities to go long on this
Could this be a sign that the Stock market sell down has stopped ??
BABA - Bullish Crab pattern completing lowerAt this moment, the charts seems to be showing us that it is at a Support turned resistance zone.
I see price potentially dropping further to complete the Crab pattern at around the $138 levels.
Let's see where this goes.
AUDUSD H1 - Bearish Bat pattern completing higherThe chart on this pair is showing us a potential sell zone around 30-40pips higher.
Stay tuned
EURAUD Weekly chart : Basis of my analysisI see a Bearish Bat pattern completing around the 1.6250/6300 levels. This recent move up is mainly due to the the movement of the AUD rather than the EUR.
President Trump pushing for a tax on the US$200B China imports towards the end of last week was the probably the root cause of the AUD weakening significantly. AUD is the closest proxy of all the G10 currencies to the Chinese economy or the Chinese Yuan.
With this strong up move on this pair, I am expecting it to take a while for the price to play out, form reversal pattern and complete the Bat Pattern at the same time. This will give is the opportunity to take the short trade. Let's be patient and monitor this pair. Well.... anyways.... this is a weekly chart we are analysing here.
EURJPY H1 - Bearish Shark CompletedSpotted this pattern and it has be reinforced with my other favourite pattern the rising wedge.
Setup looking nicer this moment
EURCAD H4 - Deep Crab type 2 entryEURCAD completed the Deep Crab pattern and price reacted to the PRZ.
Let's monitor and wait for a Type 2 entry
