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Flag Pattern on AUDNZDHi guys, here on AUDNZD we have no structure looking left on the higher timeframe. In cases like this i start looking for simple pattern formations, like flags, triangles and wedges in the trend direction. On the chart above you have what could be considered a flag pattern that's been broken to the upside. Price is now retracing back and giving us a better risk to reward ratio. Stops below the previous lows, target1 at the retest of the highs, target2 to be determined (could go very far). If you want to share your viewpoint or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
Decision point on EURNZD! Up or down?Hi guys, just wanted to let you know that i'm watching attentively to this pair, since price is testing a very important structure level that acted as support and resistance many times in the past. As of now, i'm looking for weaknesses in order to short the market: notice that we're deeply in overbought condition and price is testing a psychological number (along with structure) so any other candlestick signal would make me sell at market. Nonetheless we should be ready to change our mind if price breaks the structure yellow zone so that we can take advantage of both the situations. Never be unprepared! Think ahead! I'll keep you updated. If you want to share your standpoint, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
Potential Short Opportunity on NZDUSDTraders believe that one should always have a prediction. However, trading is not like that, at least that is not the way I, or any of the traders I work with, do it. I analyze the market and create a "Killzone" or zone where I want to get involved, and IF the market gets there, THEN I look for a reason to get involved. Sometimes, the market never gets there, and that is something I have to deal with. However, it is way better to stay one step in front of the market and wait for it to come to you than be one step behind and chase it. If you do the latest, you are just reacting, and you will most likely lose money.
Short
by GasperiniGS
2
Updated AAPL "low complexity chart" using long term trends.Fundamentals show that Apple have had a linear and continuous growth since the launch of the iPhone. No actual data suggest that this will change anytime soon. Meanwhile the AAPL stock is highly impacted by a succession of self-realized prophetic hype cycle... My very dumb guess, that however had been proven true already 3 times in the past, is that 2009 linear trend is a really major and strong resistance line. However when a stock is over-evaluated, even by the greatest analyst, correction ensue. The chart should be pretty crystal clear about why this might be a very good time if you seek for an entry point for long term. However stay aware that it still may shake a lot until and after quarterly results.
NASDAQ:AAPLLong
by TwiSell
Wedge pattern on AUDUSDHey guys, today i want to share with you another opportunity on AUDUSD. For those who are not familiar with simple patterns, this is a wedge pattern (rising). This kind of formation usually occurs after a very steep movement; you can identify this by drawing two trendlines on the chart. You see the bottom one is steeper than the upper. This means price is going up but with less strenght than before. This is also confirmed by RSI divergence (bottom of the chart) that certifies that bulls' fuel is running out. For those reasons i'm going to watch carefully to this setup waiting for price to break to the downside and then selling the first retracement. In this particular setup we have plenty of room to the south, thus the risk to reward ratio would be very nice (target2 may be all the way down to 0,720) Let's see if it comes true. If you have any question, feel free to write it below. Otherwise, see you in the next chart!
Short
by Roker1
Flag pattern on EURGBPHey guys, another simple pattern on my radar today. This time i'm right on time because the break has just happened. You can see the big impulsive leg that broke multiple structure levels on the 4hr chart. Like i said on the previous idea usually after impulses like this price put brief form of consolidation like flag, triangles and pennants. You can trade in two different ways: the first is to sell the close of the breaking candle, but in this case in order to have a better than 1:1 RR you have to set your target1 below structure (maybe lining up with 1.27 extension), the other way (the one i'm using) is to wait for a pullback and then sell as soon as you get a 1:1 RR at the retest of the lows. And then maybe you can split your position and take target2 at the extension. It's up to you. Feel free to comment below if you want to share your viewpoint or ask some questions. See you in the next chart!
Short
by Roker1
2
NZDUSD Long CypherHey all, Haven't seen much activity in the markets this week. Checked NZDUSD this morning though and found an at market Cypher pattern. This pattern has already pressed lower than the .786 retracement entry but is still valid which means we can get involved with a better risk reward. Only a small risk on this trade so should be open to most traders. This is also a pattern following the underlying trend so would be hoping for further bullish movement. Keep an eye out, Fibsii Team
Long
by FIBSII
Flag pattern on USDCHFHey guys, this analysis may come too late but i want to share it anyway for i think it could be educational. On this pair price has recently created lower low, both on the 4HR chart and in the daily. Being the case, i'm expecting a bearish continuation. After a big impulse leg as in this chart we usually see brief form of consolidation like flags and triangles. Here we can see a nice flag pattern that has been broken to the downside. Price has already pulled back giving traders a chance to hop on the trend in a better position. I'm always conservative therefore i want to set my first target at the retest of the lows, just in case i'm wrong. The levels above are my entry, stop and target levels. If you have any question, don't hesitate to ask. Otherwise, see you in the next chart!
Short
by Roker1
EURJPY Bearish CypherHey everyone, Here we have a bit of a messy Cypher pattern on EURJPY. I entered this late last week and thought I had made a post but must have missed the publish button. Since entering the market has rolled over about half way to first targets, but it will be interesting to see what happens going into next week. Will be hoping for the volatility to pick up again now were out of the Christmas and New Years break and start bringing in the pips! Targets for this pattern are 382 and 618 retracement of X-C. Stop loss placement is a 113 retracement above X-C. Any questions just ask!
Short
by FIBSII
Price Action study with S&R AUD/USDThis is a study of AUD/USD price action from a novice forex trader's perspective just shy of 2 years live fx trading The aim of this study is for me to get better at the following: identifying "key" support and resistance levels identify good trade setups based off of my analysis of these support and resistance levels better understand the currency pair's price action in order to make better analysis and trade decisions learn from any mistakes I make in my analysis, trade setups, and biases on price action AUD/USD Daily Price has made a strong bearish moves down to a support area at ~0.71688 level Last time this price played a support role was back in June 2016 With the strong move down, and a historical support level, I like the idea of a short after price pulls back up from the support level. I think that price will try and test 0.71688 again Trade setup would only be valid if the daily candle closes in resistance area showing an "indecision candle" If price continues moving up I would wait for price to find resistance at a another level
Short
by psyd3fx
3
Potential USDJPY Bullish BatHey all, Here we have a potential Bullish Bat Pattern forming on USDJPY. the C-D leg is in a small period of consolidation, however hoping for a press lower to complete the pattern (a break of structure where the green line is). If we get this the pattern is more likely to complete. Will be looking for 2 targets which gives us a strong Risk Reward. Given the holidays I wouldn't expect too much movement however will be paying attention to tomorrows news. Fibsii Team
Long
by FIBSII