Lowtest-bar
CAD/CHF Long reversal Hello traders, price decelerated nicely into the 0.7270 support level, meeting also the bottom trendline of the current bear channel. 50 EMA very far from current price so I see only 0.7350 level as possible resistance.
Keeping in mind tomorrow's NFP, I will be ready to catch an upward acceleration.
As always wish you good luck!
Long EUR/USDNew long opportunity on EUR/USD after the previous opportunity didn't trigger. Please see annotations on chart for details.
Long EUR/AUDPlease see annotated chart.
entry - above high of low test bar
stop loss - below low of low test bar
target - at previous swing high or higher
KIWI may resume bullish behaviourNZD/USD has retested 0.6500 today closing as a low test bar and just shy of trend line support. Price has also reached the 0.786 Fibonacci level closing above it. Stochastic and RSI show hidden bullish divergence.
entry - above high of low test bar
stop loss - below low of low test bar
target - at previous resistance at ~0.6880
Long EUR/AUDIn a recent and new upward trend a shallow retracement into a support area consisting of a horizontal price zone and the 8 ema. This area falls around the 38.2% Fibonacci retracement region which price has rejected giving a low test bar/bullish pin bar suggesting a long position.
entry - above high of low test bar
stop loss - below low of low test bar
target - at the next resistance level/127.2% Fibonacci extension
Long opportunity on NASDAQ100Criteria meeting long set up:
- low test bar close
- support at ~4450
- trend line support (third test)
- rejection of 200 ema
- ascending triangle pattern
entry - above high of low test bar
stop loss - below low of low test bar
target - at next resistance level or higher
IS USDAUD GOING LONG?We have seen a great move from this currency pair since September 2014, I have only been trading for the past 8 months now but I always start my analysis of a currency pair with the MONTHLY time frame. I noticed a very clear trend line and very clear higher highs and higher lows.
Currently USDAUD has come back to the trend line, so I moved down the time frames to look for an entry, interestingly enough I found some PRICE ACTION around the trend line on the WEEKLY. The first is what I call the 'TRAIN TRACK' where two bars next to each other look almost identical in body size however the chart tends to go with what the second bar is telling it, hence the green bar indicating going long. Also there is a low test bar (IF IT CLOSES LIKE THIS) which I have been using successfully for 8 months, which is another good indicator to go long.
Obviously we all know that the market doesn't give a monkeys about what we think and does what it likes but I think this would be an interesting one to watch!
Bullish outlook on EUR/AUDA low test close at a previous level and oscillator bullish divergence suggests potential upward rally on EUR/AUD.
#AUD/USD #bullish precursorAUD/USD has formed new structure recently showing signs of a trend reversal. Whether this continues to hold longer or not is for price action to reveal. As for now, a potential bullish continuation is brewing after what seems like a shall retracement. The close of price action by end of day as a low test bar above ~0.7250, where price has found support, will further confirm potential bullish intentions in price. Other than that the reasons for going long are:
rejection of 50 ema;
a rising 50 ema;
rejection and close above 0.382 Fibonacci level; and
convergence on Stochastic and RSI indicators.
entry - above high of low test bar
stop loss - below low of low test bar
target - at or above previous high/resistance area around 0.7400
What's next for USD/JPY?USD/JPY broke above the December 2014 high and closed well below. Recent price action appears to be trending after a consolidation breakout , near 120.40-120.65 , to the upside and break above , also, above the falling trend line drawn over previous highs . A possible retest of this trend line which lies in confluence with the 20 ema , a previous horizontal (now support) level (at ~120) and the 50% retracement with the sight of low test bar/hammer/reveral pin bar would be a strong signal to take the trade long . Succinctly, waiting for bullish signs at the next higher low .
