Taguspt

Taguspt

Well, this one says it all. Why complicate things when the market is saying it is simple? To me, this one seems clear (now, at this time, today! No crystal balls here). - Downward channel with good top nd medium levels, missing well defined two separated price points for a clear support line. - Clear and strong reaction to resistance last week. - Price...

Taguspt

Here is another possible range bound trade based solely on the fact that price has constantly struggled to overcome that weekly strong resistance area between 1.51 and 1.519. If you are patient with the trade and it continues the range bound price action, the RR ratio is spot on (3 to 1). In these cases, for me, it is always worth taking the trade, starting with a...

Taguspt

Not the most obvious and clear pattern here. But it does look like we might be seeing a head and shoulders most visible on the weekly chart. Price has hit a strong resistance zone around 110.60 and has been ranging between that area and 104.60. It is a nice enough range to build a position into looking for a short and a possible break of the neckline (which I...

Taguspt

This beggining of the year it seems triangles are shaping up and extended moves following breakout are in the waiting. Following yesterday's idea, this one is similar but now on AUDUSD. A clear cut triangle appeared in the 1H chart and the breakout should be happening in the next 24 hours. Better to wait for the breakout to be confirmed in the 4H or ideally in...

Taguspt

A perfect triangle has taken shape in the #AUDJPY chart touching laser sharp on all major candles across multiple timeframes. I first saw this on the 4H chart but it immediately became clear it was clean in all timeframes, with support going even going back to september last year! This is a very choppy chart, so will wait for breakout in either direction to put...

Taguspt

based on my Fib extension analysis, the breakout from Natgas from a key level will lead to futher extend the leg down, potentially towards 1.73 level. As I am playing this as part of the August Leap competition I will play conservatively my TP just as I usually do and place on the next support level at 1.82. Just wonder if I can add to my position in the...

Taguspt Updated 

Historical price action analysis indicates, at least since september 2023 that there is a high likelihood od of a price rebound from current levels to at least 570. My first position is in, will analyse how price unfolds from current levels and eventually reinforce. A drop below 520 cancels my reading and so will close any positions open.

Taguspt Updated 

Not much more to describe , pure price-action move based on the sideways movement of the oil price since mid-june. Cannot see yet any significant price-action based signal of trend confirmation either up or down, but it is possible we are seeing the formation of a head and shoulders, as well as lower highs and lower lows as this bulls seems to be fighting the...

Taguspt Updated 

using my Fib retracement strategy measuring the 1.27 and 1.38 extension after a significant U or V shaped price pattern, if price closes below the the baseline, there is a very large possibility (historically tested in many instruments) that price hits 1.27 and perhaps 1.38 See particularly the 4H chart for clarity here.

Taguspt

Silver closed above a significant resistance around 24.52. Everytime it did this on the way up since July 2020 it hit the 26.20 region (see red circles in the weekly chart), except in one instance in Nov 2021 when it went up to the 25.40 area and came back down again (see red arrow on the weekly chart and green horizontal line drawn from that level). However,...

Taguspt Updated 

EURCHF just hit the support line of a triangle coming from the Oct 2022 and May 2023 lows, this is also a confluence support level with lows from Jul 2022 and Nov 2022. Probilities are on the side of a reaction to the upside but will only be confirmed with proce action in the next few hours. Just opened a small long position. If price holds and forms an...

Taguspt

After a successful trade long with the break from a wedge pattern at the end of last week, I'm waiting for the price to provide a convincing pattern to get in. At the moment, the trend is up. The channel is intact and seems to be confirmed by price action. So, will look for opportunities to go long. Cutting a long story short, the price is in consolidation and...

Taguspt

As we move deeper into the second semester, several JPY pairs are most likely changing trends, for a variety of reasons. Of course, volatility and news will impact along the way, and I am expecitng to see a lot of consolidation at some point. But for now, price action is telling me AUDJPY just broke an important support trendline and due to the uncertainty in...

Taguspt

There seems to be an inflexion point in the long-term trend upwards of several pairs with JPY and GBPJPY is one offering the biggest ATR and potential to catch a part of that inflexion. It has risen very strongly so far but is steadfastly breaking all intermediary support levels on the way down. Plus, today's claimant count and unemployment rate numbers just...

Taguspt Updated 

Simple rationale for this one: after making a false break above a strong weekly resistance level that goes back 2022, there is a strong probability that price will react and go down to at least the 1.906 level, which is where most of the volume along the last few days was concentrated.

Taguspt Updated 

Oil (WTIUSD) has yesterday broken (orange arrow a wedge pattern that started shaping on the beginning of May. Then it went back in the wedge briefly on the market reaction to the news that the FED will keep raising rates, but that is not really a novelty and, in parallel, there were guarantees from the several big OPEC producers that they will what is necessary...

Taguspt Updated 

Just so that you know how I am navigating this trade on CHFJPY: my thesis that price will rebound south from current levels is still intact. Parallel channel is still in play and I am even add to my short position if price hits top of channel and presents beaarish price action. There is a set of small triangles within the channel, they are just intermediate...

Taguspt

EURNZD had a 4 day streak of downward tendency but it hit a major support level. It has closed below a long standing trend line coming from May on the daily (and lower time frames of course - orange trend line) but I am not convinced it will close below it on the weekly. In fact, if this is a false break on the weekly, it will then potentially go up quite...