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Thread: Fbs

  1. #501
    pedagoreng is offline Senior Member
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    USD/JPY: 'Hammer' right above the 'Window'


    The last 'Engulfing' pattern led to the current decline. At the same time, there's a 'Hammer' right above the 'Window', so we're likely going to have a local upward correction towards the upper 'Window' (111.09). The subsequent pullback from this level could lead to another decline towards the next support at 108.13.

  2. #502
    pedagoreng is offline Senior Member
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    EUR/CHF may form a triple top


    Trade idea

    SELL 1.1335; TP 1.1285; SL 1.1355

    For 3 weeks in a row, EUR/CHF tried to close above the resistance line connecting October and February highs and failed. If we study the price action at the daily chart, we’ll see a pattern that resembles a “triple top”. To sell the euro it’s necessary to have the confirmation in the form of the pair going below the 200-day MA at 1.1340. The next levels to watch on the downside will then be 1.1320 (50% Fibo retracement of the March-April advance) and 1.1280 (61.2% retracement). The pair needs to return above 1.14 for bulls to regain strength.

  3. #503
    pedagoreng is offline Senior Member
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    NZD/USD: main trend still bearish


    The main trend is still bearish. There's a 'Double Top' pattern, which has been confirmed, so the price is likely going to test the nearest support at 0.6543 in the short term. However, previously we had a 'Thorn' pattern, so it's possible to have an upward correction little later on. So, if any bullish pattern forms thereafter, the pair could test the closest resistance at 0.6579 - 0.6687.
    Last edited by pedagoreng; 05-14-2019 at 07:24 AM.

  4. #504
    pedagoreng is offline Senior Member
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    GBP/USD: confirmed bearish 'Harami'


    There's a bearish 'Harami', which has been confirmed, so the price went through the 'Window'. Also, we've got a 'Three Methods' pattern, so the market is likely going to test the next support at 1.2777 in the short term. If a pullback from this level happens little later on and we have a bullish pattern, there'll be a moment for an upward correction towards the Moving Averages.

  5. #505
    pedagoreng is offline Senior Member
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    USD/CAD: there're bearish patterns


    There're bearish patterns such a 'High Wave' and a 'Harami', which both have been confirmed. So, it's likely that the market is going to test the 55 Moving Average (1.3346) soon. The subsequent pullback from this line could be a starting point for another advance in the direction of the next resistance at 1.3561. Any bearish pattern near this level will signal that a downward correction is about to start.

  6. #506
    pedagoreng is offline Senior Member
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    USD/JPY: lower 'Window' acted as support


    The lower 'Window' has acted as support, so there's a 'Doji' pattern, which has been confirmed. Thus, it's likely that the market is going to test the upper 'Window' and the Moving Averages in the short term. If a pullback from these levels happens next, there'll be a moment to have a decline towards another support at 108.13.

  7. #507
    pedagoreng is offline Senior Member
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    SELL 1.7045; TP1 1.6980; TP2 1.6855; SL 1.7070

    The British pound continues its broad decline. No matter what the economic figures from the UK look like, the GBP is under the heavy weight of Brexit. Cross-party Brexit talks collapsed, more and more people talk about the likely resignation of the Prime Minister Theresa May and the increasing risk of a no-deal Brexit. The European Parliamentary Election may hurt the sterling even more if the Conservative party’s result is bad. The dismal fundamentals can make the GBP decline without significant pullbacks.

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  8. #508
    pedagoreng is offline Senior Member
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    The last 'V-Bottom' pattern has been confirmed, so that's why the price is consolidating. It's likely that the pair is going to test the 34 Moving Average in the short term. If any bearish pattern forms on this line little later on, there'll be a moment for another decline towards the next support at 0.6541.


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  9. #509
    pedagoreng is offline Senior Member
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    SELL 14.34; TP 14.28; SL 14.36

    USD/ZAR met the resistance of the line connecting September, March and May highs in the 14.50 area and formed a candlestick with a long upper wick on D1. The pair is consolidating in a triangle and may revisit its lower border provided by the support line since the start of 2019. The pattern on H4 resembles a “Head and Shoulders”. A decline below 14.35 will open the way down to 14.28/25.

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  10. #510
    pedagoreng is offline Senior Member
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    BUY 1.3470; TP 1.3505; SL 1.3455

    USD/CAD has been trading sideways between 1.3510 and 1.3367 for the past month. Yesterday it made a sharp rebound from the bottom of this range and now may test its top. An advance above 1.3367 (March high) will open the way up to the 1.3500/10 area. The long-term trend remains bullish.

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