AUDCHF Sell AUDCHF is reacting nicely to the top trendline on the chart. If price continues with an impulse down wait for a correction to enter short on this pair. RSI is extremely overbought as well so this is another indicaiton that price will fall. This should be a nice short setup. Good luck and safe trading
Targets
XAUUSD AREA TO WATCH + TARGETSTouched Daily support with fib confluence. Personally i'd like to buy gold a bit lower but because we have bullish divergence and a structure on the 4h i will be closely watching for buying opportunities in this area for a nice little retracement for gold. The black boxes are target levels that i'll be aiming for. Happy holidays and all the best for the new year!
Getting ready for wave C of Crude Oil consolidationWave count suggest NYMEX:CLG2017 is consolidating within 50.5 - 55.5 range in wave IV.
We might see a little push up to 54.8 tomorrow. Invalidation level for this trade is 53.18 level. We might see a 53.4, during asian or european session, but I don't think we will go down further.
As Crude will complete a zigzag in wave B into a major confluence level @ 54.8 I recommend to take short position in anticipation of impulse wave C .
@ 54.8 we have
(A) = (C)
1 of (C) = 5 of (C)
wave A 0.886 retracement
1.618 XA projection from bearish crab harmonics
CPST looking good for a nice play I would shoot for target 1 or 2. Technicals appear to becoming bullish, yet only time will tell. good luck!
AUD/JPY |August 09 2016|- Simple setup and Entry
- Market printing clear LH and LL's
- Market stalled at 76. retraced back to 78. Making a new LL and LH
- We have a short term preceding trend to the upside
- We are going to use this preceding trend as a short term reversal for a long term trend
- As some like to call it a correction in a downtrend
- Entry at the low of the indecision candlestick / LWP / Pinbar rejection
- Stop loss at the high of the candlestick
Current Algo Targets $USOIL $WTICurrent algo targets (red circles) Crude algo intra work sheet 645 AM Dec 2, 16 FX $USOIL $WTI FXCM #Oil $USO $UWTI $DWTI $CL_F #OOTT #Algo Considering the fact that a recent time / price cycle has expired algo targets are considered "soft" - waiting on confirmation. twitter.com www.compoundtrading.com
GBPUSD Bearish BatHi Trader,
There is a bearish bat pattern setting up on Pound with a D leg completion at 1.26300.
See trade details below. I always know my entry and exit prices BEFORE entering a trade, consistency is king in this business, assuming you have an edge ;)
Trade details:
Entry: 1.26270
Stop: 1.26840
Target 1: 1.25110
Target 2: 1.24330
Have a great week of trading!
Luke
GBP/USD - LONGI have been waiting patiently for the opportunity to go long on this pair. We have seen another rejection off the ascending TL and now appear to have bullish momentum. I will be entering this trade long on the close above the 61.% fibonacci and will hopefully trade up to the four targets above!
EURGBP Long 240Ok guys. I am currently looking for a long on the EG. I have identified three separate resistance levels from the past that have become my current targets. If the price can break my .382 fib and first resistance of 0.8504 I will be long to 0.8565 and then 0.8623.
Be careful as Draghi is speaking on Tuesday. I'm hoping that we can reach our 0.8565 target by the end of Monday so we can be out before the news.
EURUSD Bearish Breakout Opportunity - 4H ChartMarket is targeting recent low at ~1.113 level. Previous test as seen from the chart led to a surge to the upside in only one candle, but could not hold these higher price points with the market pushing back down lower to this support level. Another significant test is the dragonfly candle seen thereafter. We will be looking to see the market break down below this 1.113 level and HOLD below it for at least 1 or 2 candles. We will then be in a position to look for entering shorts on the pullback with target prices as indicated - relating to significant support levels on both 4H and daily charts. We will endeavour to move stops to break-even should the trade move into profit and indicate signs of moving lower. Stops will be placed above recent highs above red lines (did not want to draw the actual resistance level as it is clear based upon the two points shown but would cut across a lot of price action and make the chart look more cluttered).
Long trade on NZDUSDI really like the looks of this setup. This is exactly the type of entry I like to see. A strong move into my entry with very little basing. The cleaner the move into entry, the easier time price will have of leaving the area. The only downside to this setup is that price tested the level already. I prefer fresh areas, however, since the test does not exceed 25% of my entry area, I feel comfortable taking this area again. My target is 72.687, but I no reason not to have a second target around 73.083. That is, if you have the patience. I see price basing around the 72.80 area. But it's totally up to you. If you want to take your profits and run, then one target should work for you.
GBPUSD Bullish Bat Pattern/ Long AnalysisPotential Bat Pattern forming on the daily chart around extreme long term lows.
Gray box represents the potential reversal zone beginning with D point bat completion and ending around the AB 1.618 extension near the structure low.
Be patient and wait for bullish price action on the lower time frames.
EURUSD: Ready for BullishDear traders, get ready for the long run.
As we see on the FX:EURUSD 4H chart we have a very nice long opportunity.
1. Look at the channel where price has tested the edges four times and the fifth point is going to be the entry level.
2. Green support zone @1.0992: We have three retest at this level, some noise as well at the "X" point of Gartley pattern, followed by the entry point at the fourth retest.
3. Bullish Gartley Patern: And of course we have a gartley pattern which is going to finish @1.0992, Fibs ext. of 1.272 with the confluence of structure zone..
Our SL is going to be below the structure zone and "X" point.
Our TP is going to be fibs 0.382-T1 and 0.618-T2