With major support being broken the SPX500 looks like it will be heading much lower to retest previous support levels. Major support levels on the weekly chart align with the 1.27 and 1.618 fibonacci extensions of the most recent impulse leg. The market may retest 1730 levels and eventually the 1640 levels over the upcoming weeks.
So I know there are a lot of people jumping on the bandwagon for AUDUSD Shorts but as you can see that Aussie broke below the daily/4 hourly triangle and is retesting. This is also confluent with important fib levels. As you can also see there is RSI Divergence on the 4 hour chart. This is used additional confluence. I would have stops above 0.7250 and targets...
Price has moved to a level that has worked as a support/resistance previously. Latest upward move forms an ABCD pattern with fibonacci extension 1.618 @86.100. RSI is over 80 so this pair is overbought at the time and it may take a little brake from moving up and move down at least temporarily before possibly moving back up again. I´m looking for an opportunity...
Hello Traders! Sell Limit - 1.44049, S/L - 1.46000, T/P - 1.44000 Best regards, Powerful Traders!
No to much on my radar today, but then again, most of my analysis for the week comes after the Monday New York close. I did get a few questions to follow up on my last post. i'm a little late but here are my thoughts on the GBPUSD. If you remember last week we were keeping our eyes on a potential short opportunity as price action made it's way up to previous...
Similar to yesterday's $EURUSD trade, I'm simply looking at a potential shorting opportunity as price action works it way back towards previous structure resistance. Akil Stokes Chief Currency Analyst & Head Trading Coach www.TradeEmpowered,com -The Premier Online Trading Education Company YouTube goo.gl Facebook: goo.gl Twitter: goo.gl You Can Also Follow Me...
Using divergence , Stochastic bearish this time, a temporary short position has lined up on the 4 hour time frame on EUR/GBP. Price has given an inside bar below resistance and the 1.618 Fibonacci extension level . Targets may be placed at previous support where price could go to.
A short term long trade/counter trend trade on the 4 hour time frame taking cue from Stochastic bullish divergence and an inside bar at support and price hitting the 1.272 Fibonacci extension level. A possible pull back into previous resistance is likely where profits may be collected.
In a nice trend continuation on Cable with a nice consistent LH and LL formation. Trend extensions have been meeting the 1.272 fib so will look for a pull back into roughly the 618 level which lines up nicely with previous structure and if a signal arises I will look to short at the 618 zone taking an AB-CD formation back down to the 1.272 extension proving a...
Found this Gartley pattern setting up. Maybe this will be helpful for someone.
Looking for a short opportunity here on the GBPJPY using advanced pattern recognition, harmonic movement, Fibonacci ratios and structure identification. For a more in depth explanation of what i'm looking at see the attached video link below. Akil Stokes Chief Currency Analyst & Head Trading Coach www.TradeEmpowered.com "Learn to Trade: FOREX TRADING Using...
Price action on the Euro ended up rallying right up to the previous level of resistance that we predicted. Although we didn't see the full trend continuation move that I had on my radar advanced pattern traders were able to take advantage & profit from a pain free bearish bat pattern completion. Price action has now given us a HHHC about previous resistance...
Hello Traders! We would like to present EurJpy forecast. (3-rd variant) Sell limit - 129.000, S/L - 130.500, T/P - 126.900 Best regards, Powerful Traders.
HERE IS A TRADE SETUP I DISCOVERED A WHILE BACK AND SINCE THEM IT HAS BEEN QUITE SUCCESSFUL, I CALL IT STAIRCASE BECAUSE OF THE SHAPE OF THE CHART. BASICALLY, LOOK FOR A 23.6 RETRACEMENT, THEN AN EXPANSION TO 76.8, AND A RALLY BACK TO THE 23.6 REGION. USUALLY THIS TRADE WORKS GREAT WHEN THERE IS NO FUNDAMENTALS ANTICIPATING SO I'M CONFIDENT IT WILL WORK. THE...
The down trend on EURUSD has not come to an end yet. We broke through support this week which now acts as resistance (look at point C). Furthermore the pair is following a nice downward channel. We also have a 38.2% retracement of the previous move down, which is usually an indication of a trend continuation. If we see an equal move down (and form an AB=CD...
No doubt that Jason Stapleton will be showing this to you guys in our morning Warroom meeting, but we're looking at a potential Fibonacci inversion trade setup here on the EURUSD. We also have a 38.2 fibonacci retracement meeting at that same level and if you look left...well you know what we always say. "Look Left, Structure Leaves Clues" Akil Stokes Chief...
GBPCAD had strictly breakout the support level on day chart and week chart. It may go up to test resistant level (previous support) or not, but I will keep looking for high probability short breakout on lower time frame based on MA and trendlines until price reaching next support level. It's a star trading pair for trend traders in this week.
NZDUSD Made it's way into daily structure and put in a double top along with RSI divergence. This move is also accompanied by an ABCD pattern completion at the 1.27 extension. Looking for a move down near the previous low.