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Trendreversal

EURCAD Short: Bearish 5-0 Accompanied by BatEURCAD has been trending upward for a couple of months and has recently shown signs of weakness and a potential reversal. The 5-0 pattern is a great way to enter on the reversal. The entry is placed at 0.5BC which is confluent with the completion of a bearish bat pattern. SL is placed above structure highs and .618BC. Targets are placed at BC terminus, 1.272BC, unhit January 2016 pivot and the unhit pivot cluster from early December.
Short
by glennmercer
USDJPY potential break of weekly/monthly Support/DemandHere we have some very simple USDJPY analysis. I have a bearish bias on this pair however due to price sitting at around support currently I have provided a long scenario target. As we can see from the analysis USDJPY has successfully broken below what was a Major Monthly Ascending Trendline. The short term trend is also bearish on this pair. Taking all this into consideration my bias is to the short side in the medium to long term, with targets sat at around the 110.00 level. Price has not sat at 110.00 for nearly 15 months. The 110.00 Level also lines up perfectly with a monthly Fib extension which adds additional confluence. In an ideal world I would like to see a clean break and close at or below 115.50 and for price to then retrace back into 116.00 to 116.30 level before looking for bearish confirmation and initiating a short order. Remember I take an Instituional Swing Investment approach so this scenario might take a few weeks to play out and may not be a suitable for day trading or scalping for that matter. But if it does play out as derscribed above then we could well see price drop a significant amount. These are the kind of trades that interest me. If it plays out as described it also means that this type of trade is based on sound money and risk management because the Risk Reward ratio will be excellent. My only concern with this pair is that we have not had a retest of the monthly ascending trendline. However, as you all know well... Forex isn't quite so simple and the charts dont always give us what we want and can sometimes just continue dropping or rising at their own leisure. In all scenarios, I recommend remembering that the markets can continue to remain irrational longer than our accounts can stay afloat. So trade wisely and I wish you all a happy trading week ahead. If anyone would like to comment or post their own view then please feel free to do so. Many thanks and Best regards! Barry The Forex Trader #BTFXT
Short
by barry_fxtrader
AUDUSD: I Smell BullsThere is a very nice potential rally on FX:AUDUSD . As we see price has broken a bearish trend @0.7021, then made a pullback, then tested the high @0.7040 and now is ranging in ascending triangle. If the price breaks the triangle and makes HHHC, then we are in a bullish market. Our potential target is next structure @0.7096 with the confluence of 1.618 fibs extension. Besides we have a very nice confluence of triangle based targets rule. Avto_T Green Luck ------------------------------------- ATTENTION : Very soon, the best forex services will be available for you traders. Contests, bonuses, the so called “Big Deal” service, which you have never faced before and many more friendly and individual services. Please Click here for more information, fill the survey form and reserve your seats my friends! Follow me and be the first to enter our world! Facebook Page Facebook Group Twitter Pre Launch Survey
Long
by RCP
GBPCAD Uptrend not powerful enough to continueI apologize for the disorganized appearance of this chart. The Red lines indicate times when the price reacted to the Fib Speed Resistance Arc. This blue line Represents a mirrored version of price action from mid 2004 to mid 2010. Due to its reactions to the fib levels in the recent past and the 10 year resistance level it is likely that GBPCAD does not have the strength to penetrate that level at this time. Feel free to leave your thoughts and comments. Happy Trading!
Short
by IceTrading