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EURUSD Falling Wedge Formation Break-out Performance Based on our previous long-term analysis (please see links below), our general feeling regarding the EURUSD pair is going short. But, as we mentioned on the original idea, we would expect the price to retrace and retest the previous structure support that was broken a few days back on the 1.05700's region. We believe that this falling wedge formation may indicate the possible retrace for some extra pips. Please check previous structure for clues on supports and resistances and set TP and SL according to your trading style. The RSI indicator shows oversold conditions, still, personally I would look out for further confirmation prior to entering a long order. The above if a speculative theory that also suits our previous analysis... how convenient :) Let's see if this works out. All feedback and comments are highly appreciated.
Long
by Telson
2
GBPCAD Break-out Performance Speculation (Long-Term) - Part IIAs described in the original idea, we still believe on the long move of the price due to the formation of the falling wedge. The bottom support has moved short a few pips but the formation is still valid (to my eye). Please monitor to avoid a false break move, be wise to wait and confirm the move using other means, timeframe and/or indicators. The stop losses should be fair, under the previous structure support at the 1.63900 region while take profits are set according to expected performance and previous structure resistances. Adjust to fit your trading style. All feedback is appreciated.
Long
by Telson
NZD/USD - SHORTBearish bias on NZD/USD with the continued dollar strength into the new year. We had the breakout of the triangle structure on the 1H time frame which would have been an ideal entry however i am now short on the 4H breakout of the longer CTL with downside targets of 0.68600. A break below 0.68550 could seen further downside movements. - Other pairs i am watching: - USD/JPY LONG - EUR/GBP SHORT - EUR/USD SHORT Follow me on Instagram for more trading updates! (Tag in BIO)
Short
by MitchellShoesmith
EURNZD Possible Trendline Bounce/BreakIn my opinion, the price either bounces off the trendline and continues to go lower, or it breaks the trendline (closed candle above on H4/D1/W1) and continues up to my line "H4 Resistance" which is about .56560. But that is a very long-term and I might come back to update the progress. What I personally believe more is a trendline break out and reaching the H4 Resistance line. Share your ideas with me! If you have anything vaulable to say towards my trading, please do! I want to become better since I am a beginner. Thanks!
by DriXeL39
NZDUSD 1D Channel Break ?NZDUSD has been very choppy the last year and a half but it has slowly ascended within a wide channel formation. The pair had a very strong bearish move after yesterdays interest rate hike but it is yet to approach the bottom support of the ascending channel. I am looking for a brake of the channel and if it's broken I would go short @ 0.69876. My first target would be the daily support somewhere around 0.68000 if the is broken then I expect further down movement
Short
by JorgeLantigua
EURJPY Break-out Performanced (Part II - Continuation)Breaking down the long-term short of EURJPY as described in the " EURJPY going short " idea (see below) as well as the initial break-out performance, we have come to witness a possible continuation in a similar fashion. Note that the long-term trendline forming the top wedge (based at 121.977) is still strong for a new-forming, even-bigger wedge, with the 120.806 price tag being the new base, which is the opening price on BRExit offering first "serious" structure support. The above is also supported by market conditions on Daily charts that show real lack of buying power (seriously overbought) by means of RSI/Stochastic. Conveniently enough :D the above speculation will conclude 1st performance target as described on the " EURJPY Break-out Performance " idea (see below) that was nearly missed at first go. There will be some resistance from EUR, we are in for a bumpy SHORT ride (scalping opportunities?) but, for the time being, I cannot foresee anything that may reverse back to LONG (trend not just a retrace). I would expect a solid retrace (min. 118.000) of that straight bull trend of the past few weeks, over the next few weeks before it shoots back to the stars. Lets wait it out... Since sometimes we all live in our small fantasy bubbles so, all feedback is appreciated.
Short
by Telson
1
GOLD - FALLING WEDGE PATTERN / ReversalThursday 24 and Friday 25 are KEY DAYS for REVERSAL BREAK UP. You can OPERATE previous UP and DOWN... and after take advantage with the BREAK of pattern. The Falling Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge. In contrast to symmetrical triangles, which have no definitive slope and no bias, falling wedges definitely slope down and have a bullish bias. However, this bullish bias cannot be realized until a resistance breakout.
COMEX:GC1!
by VladimirMendoza
AUDUSD : two breakdowns = first indications of weaknessThe AUDUSD pair is inside an upside trend, since June 2016. Higher tops and higher bottoms were defining that trend. Currently, there are the first signs of a potential weakening bullish dynamic : - The pace of the progression is slowing down , as shown by the break of the ascending trendline support. This was the first signal that should have raised our attention. - The previous short term bottom (0.75576) has been broken too . These two elements happened on the same day. The next step to see if the AUDUSD is really constructing a reversal is the support at 0.75065, which is reinforced by the 200 days moving average . If that level had to be broken too, we would be looking for short term bounces to find opportunities to enter short on that pair. Stay tuned, and feel free to leave a comment with your opinion
by AlexandreNygal