s&P500 poised for a continuation to the upside after last week's pullback. Dont' let the weekly doji fool you!
Min. upside 4820.
Min. upside 4820.
Community Blog
CAD JPY 64 PIPS - NEVER MONITOR YOUR TRADE!
This trade took advantage of the Double Top Signal on the 4 Hour Chart that told us that the pair was going to be headed lower over the next 24 Hours. It also appeared to be forming a Consolidation Setup, based on the nature of the previous Uptrend and the sudden and aggressive Trend Change Signal in the form of these Double Tops.
Below you can see an example of the waves that generally indicate that a Consolidation is being formed. These will either lead to the formation of a Pennant or a Range…
Below you can see an example of the waves that generally indicate that a Consolidation is being formed. These will either lead to the formation of a Pennant or a Range…
GBPNZD 1H daily review 29.12.2017
GBPNZD has just recently broken out of a down pennant formation near a significant low. This shows the market lacks the necessary strength to push through the support area. Also after breaking the upper containing trend line the market started to move sideways forming a congestion area(green rectangle). This provide a good risk reward ratio for entering the market on the long side.A stop loss should be placed just below the congestion area and the take profit should be where the most recent swin…
USDCHF 4h chart 25.12.2017 daily review
UsdChf has been moving in a down trent channel/pennant. Until the price clearly breaks out of the pattern the trend remains still bearish. I think the current market scenario provides a good opportunity to short this market with a stop loss just above the recent high and a take profit at the lower channel line or the previous lows.
Trade well and Merry Christmas everyone!
Trade well and Merry Christmas everyone!
47 PIPS ON AUD NZD BREAKOUT
Hey Traders how goes it?
This trade took advantage of recent bullish momentum in favour of the Aussie over the last 48 Hours.
Consolidation Setups are very common across the Forex Market and they generally represent instances of uncertainty about the Medium to Long-Term Outlook for the Pair. The Larger the Setup, the greater the news impact that is needed to start a breakout in favour of one of the currencies. This could be a Jobs Number, Trade Balance, Interest Rate/Central Bank Decision or the…
This trade took advantage of recent bullish momentum in favour of the Aussie over the last 48 Hours.
Consolidation Setups are very common across the Forex Market and they generally represent instances of uncertainty about the Medium to Long-Term Outlook for the Pair. The Larger the Setup, the greater the news impact that is needed to start a breakout in favour of one of the currencies. This could be a Jobs Number, Trade Balance, Interest Rate/Central Bank Decision or the…
AUDJPY
The AUDJPY pair looks like making a pennant which is bullish but the pair is in downtrend from a long time. But seeing the bullish pattern if it is able to break to the upside then next stop is at 80.20 . But looking at the bearish long term outlook I will go with the price that it will follow in case no breakout occurs, and that price will be near 75.85 on 1 Nov 16 at 1200 GMT.
DAILY CHART
4H CHART
The real uptrend or downtrend will be decided only after the pair breaks below or above the sup…
DAILY CHART
4H CHART
The real uptrend or downtrend will be decided only after the pair breaks below or above the sup…
YEN CROSSES TIGHTENING, READY TO POP
After several months of moving sideways within large ranges of 300-1000 pips, some of the Japanese Yen crosses might be about to finally breakout from these prisons of consolidation.
For the GBP JPY, the Daily Chart below shows the extremely large Consolidation Pennant that represents a large amount of uncertainty regarding economic and monetary policy in Japan. After reaching a peak of 172,49 on February 1st this year, we have seen the pair drop by 1000 pips followed by smaller waves of uptre…
For the GBP JPY, the Daily Chart below shows the extremely large Consolidation Pennant that represents a large amount of uncertainty regarding economic and monetary policy in Japan. After reaching a peak of 172,49 on February 1st this year, we have seen the pair drop by 1000 pips followed by smaller waves of uptre…
GBP USD Range Breakout
GBP USD looks set to start the new year on high with a rally looking to take place in the next few days. Daily Chart was moving within a range, Resistance 1,6460 and Support 1.6319 and just broke the Resistance with a bull candle. This could take the GBP to at least 1,6900 by the middle of next week. This is a significant breakout, because its also breaking out from a much larger Consolidation that was formed after the reaction to the Financial Crisis of 2008 and the safe haven buying of the US…