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2618 Trade

2618 on EURNZDHi guys, this evening i want to share with you a nice setup on EURNZD. The black line represents a daily structure level that should act as support: indeed, price failed to break that level and instead it has created a double bottom with RSI divergence. Then, price also broke to the upside the neckline and it's now pulling back to 618 retracement that seems to hold. According to the 2618 strategy we can buy here and have our first target at the retest of the highs, with stops below 1,52 level. Target2 to be determined. If you want to share your view or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
2
2618 & consolidation breakout on EURJPYHi guys, today i want to share with you this simple consolidation pattern called triangle: it basically consists on one trendline and one horizontal structure level converging at the same level. Price is making lower highs and equal lows. As you can see on the chart above though, price has actually broken to the upside this trendline, also breaking the double bottom's neckline (giving us a 2618 entry technique). Plus, the black line represents an important daily structure level, and on the daily chart the RSI is in oversold condition. All these conditions together make me think it could be a nice spot to go long here. I'm waiting for the completion of the 2618 in order to enter long. Stops below the lows, target1 at the retest of the highs, target2 at the top of the triangle. If you have any questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
Consolidation Breakout on EURJPYHi guys, today i want to share with you this simple consolidation pattern called triangle: it basically consists on one trendline and one horizontal structure level converging at the same level. Price is making lower highs and equal lows. As you can see on the chart above though, price has actually broken to the upside this trendline, also breaking the double bottom's neckline (giving us a 2618 entry technique). Plus, the black line represents an important daily structure level, and on the daily chart the RSI is in oversold condition. All these conditions together make me think it could be a nice spot to go long here. I'm waiting for the completion of the 2618 in order to enter long. Stops below the lows, target1 at the retest of the highs, target2 at the top of the triangle. If you have any questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
Sterlin sets up for a relief rallyHi guys, today gbpusd is coming back to retest a daily support/resistance zone, therefore i want to look for some opportunities on the lower timeframe. On the hourly there's a nice pinbar that tells me there's buying pressure. Besides, price has also created a double bottom with RSI divergence that you can see on the chart above. The consequent break of structure to the upside makes me think it could go higher on this short timeframe. You can use the 2618 strategy to buy the 618 retracement, with stops below the low and target1 at the retest of the highs, target2 to be determined. If you want to share your thoughts or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
2
Sterlin sets up for a relief rally!!Hi guys, today gbpusd is coming back to retest a daily support/resistance zone, therefore i want to look for some opportunities on the lower timeframe. On the hourly there's a nice pinbar that tells me there's buying pressure. Besides, price has also created a double bottom with RSI divergence that you can see on the chart above. The consequent break of structure to the upside makes me think it could go higher on this short timeframe. You can use the 2618 strategy to buy the 618 retracement, with stops below the low and target1 at the retest of the highs, target2 to be determined. If you want to share your thoughts or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
DXY Upside CorrectionWhile the dollar has taken a beating recently, it appears to be due for a correction relatively soon. The index has rejected the 102.25 level and slid down to monthly lows. The completion of the 2618 motion illustrated above should have caused a cessation and reversal at the 100.15 level (point D) before a modest reversal, but it appears as though bearish momentum has pushed the index beyond this target. These new lows are running too hot and will need to return to a more stable structural level, indicated in this analysis as the zone surrounding point D. Last time price sharply reached these lows the subsequent reversal looked like the gray outline drawn above. For the purposes of this analysis, historical data will serve as a mock projection of future price action.
TVC:DXYLong
by MattSzwyd