H&S Pattern. AUDJPY, NZDJPY, GBPJPY all have broken the multi year resistance. Time to dive!
AUDUSD breaks new low + H&S pattern! Expected to drop further
NZDJPY has broken the key support/resistance level. Expected to fall further
USD has made multiple AB=CD pattern with around 850 pips bullish and retrace to around 61.8 - 76.4 fibonnaci. Thus, we can open sell position at 1.363-1.365 (after reversal confirmation) and aim for 61.8 fibonnaci retracement, because: 1. It finish the AB=CD pattern (850 pips) at 1.363 2. RSI overbought parale 3. It might end elliot wave 5 and start the wave A 4....
We can see that around 1.556 there is strong resistance as price got rejected many times. Opening sell position here is a good opportunity as SL can be located near above 1.556 and TP can be 50% or more retracement which gives a very good RR ratio.
Previously closed my buy position at 1262 and I set sell limit at 1262. Potential short because 1) Price at the upper channel 2) Price at 50% fibonnaci from April 2018 high 3) RSI overbought 4) Decent RR ratio Aim for around 50% fibonnaci from August 2018 low!
wait for EURUSD to break lower channel and short at the pullback
Consolidation not over yet? RSI, butterfly pattern.. aim for 61.8 fibonnaci
Bounce from upper channel, RSI, good RR ratio
A very nice long opportunity on AUD/NZD with decent RR ratio!
Pullback from breakout complete, a nice long opportunity!