Forexsignals
Cup & Handle Formation in Dow Jones HourlyThe US index Dow Jones has formed a Cup & Handle pattern on hourly charts.
Breakout is awaited.
A valid upside breakout will lead to further upside but previous swing high may act as a supply zone.
AXIS Bank Elliott wave analysis : wave E is getting cooked !Howdy Traders ,
This is 30 minute time frame chart of AXIS BANK.
You can see that waves 1 to 5 are completed.
The retracement of wave 1 is 61.8% and retracement of the wave 4 is 38.2%.
The 3rd wave is extended and in that we can see other degrees of Elliott Wave cycle.
The 4th wave can make an expanding triangle. Let's Wait for wave E
5th wave can travel up to 61.8%.
GBPJPY APPROACHING DEMAND ZONE !!!1) Wait for the price to reject at the entry range and take long position accordingly
2) If broken down , check for 4H candle close below the buy level to go for a SHORT POSITION .
3) May wait for trendline breakout and retest for more confirmation .
4) 4 Targets are given . targets 3 & 4 might be difficult to achieve because of the trendline . trial your positions accordinlgy .
USDJPY Short Term Trade SetupThe daily is turning down against the March highs at 111.68. The 4 & 1 hour are turning up against 103.14 to correct the cycle from the May highs. While above 103.12 the pair can see strength toward 107.00 before a turn back lower.
Sell @103.85-104
TP: 103.25
SL: 104.20
Good luck !
GBPJPY LONG 4hrClear buy as the price has come to strong level of support
Entry 137.90
Sl 137.50
Tp 139.45
AUDUSD, Midweek analysis, Nov 11-13Australian Dollar against USD, looking weak , it might finish the week by reaching the the price of 0.71800 area..
long xauusd XAUUSD, H4
Price made a huge drop yesterday, and now looks like it’s holding off the 1860 support level, could we see price complete this descending triangle pattern or will we see a continued break and a new trend? Watch out for price action confirmations of both at either the support level or resistive trend line
BUY XAUUSD @ 1876
TP1: 1884
TP2: 1896
FOR SL JOIN OUR TELEGRAM CHANNEL -
USDJPY LONG TRADE SETUPThe daily is turning down against the March highs at 111.68. The 4 hour is turning down against 106.11 October high. While below 105.34 the pair can see further weakness toward 102.50 to 102.00 before a bounce corrects the cycle from the 106.11 October highs.
LONG USDJPY
@104.50-104.20
TP: 106.00
SL: 103.80
Good luck !
USDCAD : Bullish ReversalAs provided in the last idea , USDCAD was in a formation of ending diagonal which has completed in today's session. Right from there we have seen an impulsive move in upward direction. This impulsive move is providing a signal that the ending diagonal & so correction of USDCAD has been completed. Expecting the pair to extend its third wave & give a closing above 1.33400 level. As per the guidelines an aggressive trader should buy here & the conservative trader can wait for the level of 1.32400 to be hold for the target of the origin of the diagonal & above that level.
Please see the attached link for the previous idea.
Thanks
USD/INR (target 79+): ABCD & Three Drives PatternHere, AC and CE are 0.52 .
BD is 1.27 .
By using ABCD & Three Drives Pattern, USD/INR will test 79 levels in the 2021 year. Afterward, its trend will change. We may see 75 levels as a correction.
Short-term investors can buy here for 74.4 - 76 - 78+ levels. ABCD Pattern shows that the C point is a stepping stool towards the level of 79.44 ( 1.27 retracement level ), and the D point is a reversal zone.
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USD/CHF Looking very SrongUSD/CHF at very strong support now it may pullback
Buy USD/CHF @90980
SL 90480
TP 90980/92980
Note:- Only for educational purpose.
AUDJPY wait for breakout If the price takes support at trendline and moves upward:
entry : 74.5
target : 74.7
If the price takes support at trendline and moves downward:
entry : 74.5
target : 74.3
ETHUSD short at 369.22, Resistance at trendlineI will short ETHUSD because :
It is facing a strong resistance at the trend line .
Its not been able to break that trend line .
The price is again at the resistance trend line and may fall.
If it breaks the resistance trend line then we will be looking to buy.
Entry : 369.22
First Target : 365
Second Target : 361
Stop loss : 370
XAUUSD BUY signal at 1950I would go long on xauusd because its forming a triangular descending pattern and has given a beakout upwards.
ENTRY : 1950
FIRST TARGET : 1967
STOP LOSS : 1945
EURUSD BUY signal at 1.18168I will buy EURUSD because :
It is forming a channel pattern
The price is ats support level and may go up
so i think we should buy EURUSD
If it falls below the support line short it .
Entry : 1.18168
Target : 1.20206
Stop loss : 1.17865
AUDCHF in Rising Wedge.AUDCHF has been spotted in rising wedge which is a bearish pattern with bias to break to the downside.
Entry is around 0.65650 and take profit at 0.65350, roughly around 30 pips profit.
Good luck!
Tibor
