AUDCAD Head and Shoulder PatternAUDCAD just create a head and shoulder pattern in h4 chart.
Neckline point is 0.9781
After the break of neckline it will be safe entry.
Target price is 0.9530
Neckline
NZDJPY to rest double top necklineClear and well defined pivotal support/resistance around 89.80-90.00. Sell when NZDJPY rallies to re-test this price zone.
Short NZDJPY 89.80-90.00
SL 90.50
TP1 87.50
TP2 85.50
IDXX inverted head and shouldersIDXX has just broken up out of a nine week pullback. Price struggled to break above the $150 half-figure zone during that time. Prior to this there was a very deep pullback (September/October 2014) which broke below the weekly 50ma for several weeks.
However, price is currently in an uptrend, despite the recent pullback - which, in fact, formed an inverted head and shoulders pattern suggesting a continuation to the upside. This was confirmed on yesterdays breakout bar - which also broke above the recent pivot high. Volume was up on the bullish bar, too, which all points to a continuation of the uptrend.
Overall, volume is on the low side (which could affect liquidity) but otherwise a good long opportunity.
Pullback to Resistance give us new Low Risk EntryAfter breaking down from neckline price has climbed giving us the possibility to short even more lots or get in the trade if we missed it. This type of Low Risk Entries dont happen often.
GBPCAD h1 right shoulder short of a head and shouldersmacd divergence looks a bit awkward but seems to be topping out at the channel near 8045, which is the level to hold until it day closes above.
GBPCAD finally game is on for the start of the new downtrend.there is a channel and 8045 has been tested twice. this shows that 8045 is the R that I want to watch on n price should not day close above in order to spoil this hns pattern for a new downtrend.
I see a channel with macd divergence but the channel itself is awkward as the channel break does not present the best RRR. Hence i will need to modify my entry and look to trade on h4 closes below the 3 day high spike.
ERUSEK a short from neckline retestFrom larger timeframe I can take a strong bearish week below 3 months low.
I am now looking at a neckline retest and there is a channel of sorts with macd divergence from the recent peaks.
Price remains below the f6 from the downflow that I have identified.
My bias is wrong if it should day CLOSE strongly below the green lines.
Spikes are not considered SL for me.
TP i can look to aim at recent low and have the other portion extended to below.
How I short SPXLooking to short SPX after this double top.
Once the neckline breaks you have several opportunities to place short trades ...
Target is the longterm channel bottom at around 1737.
Taking first profits at 1845.
Possible H&S: another opportunity to short USDCAD As stated in a previous idea () this pair has already been rejected on major daily structure. Now is setting up a possible head and shoulder pattern on lower timeframe (4h).
Many pin bars formed on Friday showing price rejection below left shoulder level of the formation.
Action:
On Monday look for price to not gap nor open above pin bar's tails and sell at market.
Target 1 at neckline, next profit taking zones on relevant structures looking left
CADCHF inverted hns completed for longan inverted heand and shoulders has been completed and I am now monitoring for a neckline retest to go long.
The neckline support will be based on d1 line chart and I will be monitoring the neckline f6 area for a good test.
GBPCAD at the neckline retest pending start of bear reversal GBPCAD is currently at the 5 months low resistance which functions as a neckline.
I have a h1 channel macd setup and should price plunge below yesterday low, it will signify the completion of a slanted hns and a completion of a flush of 4 weeks high.
Then it may be the start of a nice ride down.
AUDUSD nearing neckline supportThis is the 400pips inverted head and shoulders pattern on the daily chart. The neckline support is around 0.9070-80. Look to enter long at neckline and 50% FIB retracement.
Long AUDUSD 0.9070-80
SL 0.9000
TP 0.9200
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USDCAD Head and shoulders pattern, potential shortI see nice Head&Shoulders pattern in USD/CAD with neckline at 1.09030. Moving averages curling down means that sellers keep preassure and control on price. Break below neckline which is our support could lead to further follow through. My intermidiate target is 1.08600 close to support zone.
Stop could be placed above 50 MA which follows price nicely.
Are we in a double bottom formation?EURUSD is a very mechanical pair, reacting to macroeconomic situation and sharp on political statement.
Baring in mind the situation of indicators and the picture, we may be on the eve of a formation of a double bottom.
Political situation in Europe, recent statements of ECB President Draghi , statements that had an effect on the market
but on a long run, no one knows yet how his word would be transformed into actions.
On the other hand, FED President is still applying the tappering policy, but leave a room to delay the end of it. Interest rate will not be increased immediately by FED, nor by ECB despite the inflation rate of 0.8%.
Therefore, there may be a quick move upward before ECB and others react. Draghi stipulated that Europe need competitiveness and you can't be competive with a strong EUR. Markets should fall down a little bit and Yellen may need to make a statement to reassure that the QE may continue if needed. So many element in favor of this idea which is a first move again toward. 1.40 and above. And then an genuine intervention of ECB as well as a description of ECB's possible QE which by the way may be ABS(Asset Backed Securities).... And then EUR may be down progressively from 1.40 to 1.31 and below.... It is just an idea, a possible scenario we may keep in mind...
