USDCAD: Close to Short LevelHello Traders!
Today on my radar is FX:USDCAD As we see price is approaching the key resist level which will be the must watch level to go short. Currently price is moving in the wedge pattern and @1.3310 we might see the false breakout in order to test the wedge resistance and then fall down. As the price has tested this level many times, there is a probability of breakout and rally up and make new highs.
But here is the issue: The price is the 11 years high, and according to this 1 month consolidation phase, I assume price has lost the steam and its time to come down and set our targets @1.3204. If you are a swing trader you can adjust the targets according to your edge.
Avto_T
Green Luck
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Fibs
GBPJPY: The Bat is Readywe have a very nice Bat pattern on FX:GBPJPY which is almost completed. Stops must go below the structure level 184.22, look left and check it. And our targets are 38.2 and 61.8 fib levels with the confluences of very nice key levels. Be aware that price has a high momentum, let it calm down and then go long. Besides we have a very nice confluence of weekly S1 right at the structure support level.
Avto_T
Green Luck
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EURGBP: Break and Ready to SellSooo, we have a very nice breakout on FX:EURGBP after a long term retests of the structure level @0.7240. As we see price has broken the structure and it is more likely to retest it and then fall down. And there is a good opportunity to sell at this level. I assume price will reverse somewhere in red zone and our targets will be somewhere in 0.7176-0.7146.
So keep an eye on this reversal zone.
Avto_T
Green Luck
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USDJPY: The Bat is DownWe have a very nice potential bat pattern on FX:USDJPY with perfect targets.
Both of our targets are perfectly located at structure levels. (look left for more confluence and check the levels).
According to the structure we have very nice risk.
Avto_T
Green Luck
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GBPUSD: Monday SetupHello Traders!
Today we have a very nice long setup on FX:GBPUSD It is a pure structure based buy opportunity. So I am waiting the price to go @1.5484 and retest the structure support and then go long all the way up until the next structure. Here we have very nice fibs condluence: 1. 38.2 right at the structure level; 2. 61.8 little below from structure. So this zone will be the reversal zone where price might reverse and rally up. As we see we have a very nice R/R as well.
Avto_T
Green Luck
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EURAUD: Get Ready for Big MondaySunday Morning Traders!
What we have for Monday is a very nice long setup on FX:EURAUD
So we have a nice bearish channel and inside the channel nice ABCD pattern which is more likely to complete somewhere in the Red Zone with the confluences of: 1. Fibs extension 1.272; 2. structure support 1.5581; look left and check this level. 3. channel edge right at these levels. If the price enters this reversal zone we buy EUR. Out targets are somewhere at the channel resistance level @1.5870 wit the confluence of fibs 0.618 and support level @1.5818. Keep an eye on this setup.
Avto_T
Green Luck
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NZDUSD: The perfect long opportunitySo today on FX:NZDUSD we have a very nice setup to go long.
The price is ranging between the channel and hit the support level @0.6312, with the confluence of daily S2.
Now price is more likely to go up at leas @0.6355 level and then hit the channel resist once more @0.6404, and here at this level we have a very nice fibs 1.272 confluence.
Avto_T
Green Luck
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EURJPY: Pattern and StructureHere is another setup on FX:EURJPY We have a very , very nice shorting opportunity. There is a very good structure @137.04, look left for more confluence. Besides the structure we have a completed bearish bat pattern.
I suggest to go short at structure as the market has upward momentum, and according to my analyzes the structure must act like a wall.
Our stops go above the resistance and profit targets go around the green zone.
Avto_T
GL (Green Luck)
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EURJPY: Sell EUR, sell it!Harmonic pattern is ready to go short on FX:EURJPY
We have a bearish gartley with the confluence of fibs 61.8.
Our target 1 is around the next support and fibs 31.8 and the target 2 deeper support with fibs 61.8.
Besides look left and check the structure levels for more confluence.
GL (Green Luck)
Avto_T
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EURJPY: Harmonic MovesHere on FX:EURJPY we have a very nice harmonic moves inside the channel. This is so called 3-drives pattern and we have a very nice trade setup to go short. The structure and harmonic moves gives us the clear opportunity to sell. Our target is the next support level @ 134.72 with the confluence of fibs 50.0, and stops go above previous lower high. Note, that we are in a bear market right now.
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GBPUSD: Trade of the DayHello traders.
Today on FX:GBPUSD we have a very nice shorting opportunity. The price has made perfect double top @1.5470 at very strong structure resistance level. For more confluence look left or switch to daily or 4h timeframe to see it better. Then price broke the neckline and went back @fibs 61.8 which gives us a 2618 setup and very nice shorting opportunity.
Our targets are next support @1.5372 and the second target 1.5348 with the confluence of fibs extension 1.272.
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NZDUSD: Structure is a Big MagnetGood Monday traders.
Here is the first setup of the week. We have a pure structure based shorting setup on FX:NZDUSD . The market is moving in the wedge currently and I am waiting the price to enter the Red Zone and fall all the way down.
The reversal zone is between the structure resist and the fibs 61.8 with the confluence of look left structure. We should wait the price to enter the red zone, retest the wedge and then go short. Our targets will be next support levels: Target 1 @0.6284 and target 2 @0.62547.
Also note that we are still in a bearish market.
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EURUSD: The best pair to tradeOn FX:EURUSD we have very nice structure based setup, which is in my radar today.
Currently I wait for the price to retest the structure support @1.1244. We have a nice confluence of Fibs 38.2 right at the support level. So I look the price should finish the correction in the red zone and then rally up to the next structure level @1.13518, where we have fibs confluence of 1.272.
So, look left and see the structure for more confluence and the bearish divergence with OB
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-Every Cent Counts-
EURJPY: Must Short SetupToday on FX:EURJPY we have a very nice shorting opportunity with good R/R.
First of all we have very strong structure resistance @136.45 with the confluence of fibs 61.8 and daily R1.
Our target is the next structure support with the confluence of fibs 38.2 @134.99
Besides we have a bearish divergence and all these gives us a good chance to go short today.
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-Every Cent Counts-
USDJPY: Trading with Price Action & Fibonacci Tools (VIDEO)Hey traders, sorry for being away all week but I needed to get away from some of the negativity that exist on these social sites and concentrate fully on what matters most TRADING. The chart above is of a trade we took on the USDJPY this week using nothing more than the fundamental skills of reading a price chart and using the Fibonacci ratio tools.
Obviously explaining the trade would mean numerous paragraphs so to make things easier, I just recorded a video. Enjoy and hopefully I’ll be back on tradingview next week. We’ll see, I love sharing ideas with you guys and helping you out but I must admit, being away has been refreshing.
FOREX TRADING USING PRICE ACTION & FIBONACCI RATIOS VIDEO
www.youtube.com
Akil Stokes
Chief Currency Analysis at Trade Empowered
EURGBP: The Perfect Harmonic MovesWe have the perfect harmonic moves on FX:EURGBP
Price is moving between the channel and making harmonic moves, which means we are in a 3-drives pattern market.
As we see we have the perfect fibs 61.8 and 1.272 confluences at the edges of channel and it is the best time so sell.
The first target is the next support, where price might consolidate. The second target is fibs extension 1.272 with the confluence of fibs 1.618 extension
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Don’t forget -Every Cent Counts-
EURUSD: Buy USDHello traders.
Today on FX:EURUSD we have very nice structure based short opportunity, that is double top. We see that price tested the structure resistance and now, if the price retests the structure level @1.1243, but doesn't close above the resistance, we should go short on NBM. Besides there are very good confluences here:
Left top is overbought
Bearish divergence is going to form
Very nice resistance, look left
Fibs 61.8 of AB leg
Our profit target will be the Green Zone which is 38.2 fibs of CD leg and 61.8 fibs of BC leg. Besides we have weekly PP up there.
So, get ready to sell EUR.
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Don’t forget -Every Cent Counts-
USDJPY: Wake up, and go shortI wake up, did some analyses and found out this perfect opportunity on FX_IDC:USDJMD
Completed Bat pattern at the PRZ zone with the confluence of:
1. Fibs 61.8
2. Structure resist
3. Daily R1
We have very nice R/R targets: Target 1 with 1/1.95 RR and Target 2 with 1/3.4 RR.
I want to mention that X leg is located in very strong resist zone, which gives us more confidence to get involved.
So traders, look through your edge and get in accordingly.
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ATTENTION: Very soon, High cashback service will be launched for you traders. Follow me, in order to be informed as soon as we are ready to offer you the best and transparent rebate services from leading forex brokers.
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EURUSD: 2 profitable movesToday on FX:EURUSD we have a shorting opportunity at the edge of potential channel with the confluence of fibs 61.8 and the structure resistance.
I think the price will come back to previous structure support -which will be the good opportunity to get involved and go long.
1. IF price breaks the channel and the resist than we should be looking our targets to be @1.1317.
2. IF price could not break the structure and makes double top, the price we fall down to the previous support @1.1180, which means that market has to decide there to go next.
EURJPY: Go short; Get some pipsHello traders.
Today I want to take your attention on FX:EURJPY shorting setup.
We have a very nice shorting opportunity right at the structure resist level. We have a double top with bearish divergence, which is a good confluence, besides fibs 0.786 @133.30 resist level.
We have 2 potential targets both at support zone.
NZDUSD: Get ready for mondaySo, here on FX:NZDUSD there is a very good trend following opportunity that should be monitored during the next trading week.
I am looking the market to do the following moves:
As we are in a bear market right now I look for the retest structure, price should enter the reversal zone and then fall down. As you see we have fibs confluence of 38.2 right at the resist level and 61.8 little bit higher which is a critical reversal level.
If price does these moves we should be looking for the short entry and potential ABCD pattern formation, due to we have no structure below, we should use fibs extension tool and form ABCD pattern for your profit targets, depending the pullback is at 38.2 or 61.8.
Target 1 is the least aggressive setup.
EURUSD: Bear timeHello traders.
Today on FX:EURUSD we have a nice opportunity to go short.
It is easy and interesting structure based setup.
So what we have here is that we should wait for the price to retest the structure support, however we have a fibs 38.2 and daily PP confluences at the structure, Then we are free to go short all the way down.
There are 2 potential targets with nice R/R.
P.S don't skip todays NFP news!
EURUSD: Perfect harmonic moves to go longHello Traders, I am back from my vacation and happy to come back here.
So here on FX_IDC:EURUSD we have a potential 3 drives pattern with perfect fibs ratios. The pattern should finish @1.1110 around the daily S1.
Besides, if we look left we see nice structure support zone right at the buying area.
Regarding the targets we have 2 potential target zones, and its up to you which one you focus on. Both targets are potentially achievable.
Take into mind that we are in bearish market right now.
Wish you a good trading day.