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USDCHF sell trade @H4 chartUSDCHF As CHF is considering as one of the safe heaven assets along with JPY its gained some strength during this financial crisis time The Elliot wave is forming in this chart we can see that Wave 02 is almost completed and stated its run to complete the wave 03 It will form descending channel. We can open short positions at this level which is 0.96400 0.94300 would be a resistance level we have keep eye on this level Primary target would be 0.93100 And the final target would be 0.91900 Stop lose may placed above the 0.96900 level
Short
by forexorbit
USDCAD Elliot impulse wave formationUSDCAD The oil dependant canada is nowdays struggling to recover as the oil prices are are at low level and currently trading at 20 dollar per barrel Which inturns its affects the CAD negatively Currently in USDCAD Elliot wave if forming, Wave 01 is completed and wave 02 is forming We can expect to close this wave at resistance level 1.42100 which is also a 61.8% Fibonacci From this level we can open short positions and the primary target would be 1.37270 which is a 1.272% Fibonacci And the final target would be 1.33280 which we are expecting the point where the wave 05 going to close Stop lose may placed above the 1.43050 level which is a 50% Fibonacci Leave your comments below
Short
by forexorbit
GBPUSD TRADE SETUPThe pair ended a cycle up in wave ((1)) from the 9/3/2019 lows at 1.3519 on 12/13/19. From there a cycle in wave (A) ended at 1.2904 & wave (B) ended on 12/31/19 at 1.3284 to correct the cycle lower from the 12/13/19 highs . While below 1.3066 where the hourly right side is down a turn back lower to correct the cycle from the 9/3/19 lows can further develop. While it shows it will remain above the 9/3/2019 lows where the 4 hour right side is up it can see another swing higher in the correction of the cycle lower from the 4/17/18 highs.
Short
by Forextuitions
BTCUSD - and what?Morning Traders, If you take position after price breakup trough TL2 that that was outstanding and easy position. I have created Channel but the price did not reach upper line of the channel. I just waited for candle to be closed. On the lower TF momentum slows down. But we have wait until price either break trough the TL of the channel or rises higher. And that perhaps is price doing right now. Look like price is loosing momentum pay close attention what is happening on chart. But keep in mind that this is four hours candles anything can happen in that time. Thank you for like it my analysis.
BITFINEX:BTCUSD
by ForexClub_pl
GBPUSD Forecast for the dayThe pair ended a cycle up in wave ((1)) from the 9/3/2019 lows at 1.3519 on 12/13/19. From there a cycle in wave (A) ended at 1.2904 where the hourly is turning up. While a bounce fails below the 12/13/19 highs it can see a pullback correct the cycle from the 9/3/19 lows. While it shows it will remain above the 9/3/2019 lows where the 4 hour right side is up it can see another swing higher in the correction of the cycle lower from the 7/15/14 highs.
Long
by Forextuitions
USDJPY waits necline breakout of inverted H&SUSDJPY has formed a classic inverted head and shoulder pattern on a daily basis. The prices are trading very close to the neckline and we might see a breakout soon. furthermore, the weekly chart has formed a bullish engulfing pattern as well that supports the bullish argument. Like always, the price can take two paths, the first one is highlighted by the blue arrows - neckline breach (sustains on a daily basis) to reach the first target of 110.472. If the prices sustain above this level, it will go for the next 112.00 hurdle. If this happens, we will have 107.00 as the stop loss. The second path is shown by orange arrows with prices first testing the tip of the second shoulder and then taking a breakout from the neckline. Either way, prices are headed for the 112.00 and in both cases, we will enter only when the neckline is breached and sustained.
Long
by forexnoobmaster007
1
Short GBPUSD to test 1.21151 level of the broadening channelGBPUSD is a good sell right now as there are a number of patterns that point towards the southward trajectory of the pair. The pair initially went above the broadening channel, but later on reverted back with a head and shoulder pattern (blue shaded area) which make bears on the winning side, with the target of testing the lower trend line of the channel at 1.21151. In other words, follow the red arrow. Meanwhile, the pair is taking support from the 1.22859, which might become the neckline for the second head and shoulder pattern (highlighted by green area). The second shoulder of the pattern has not formed yet, which can make the prices turn to 1.24043 resistance level. In other words, the pair can follow the path highlighted by blue arrows. 10 to 20 pips above this resistance can be the stop loss for this entire trade. Furthermore, on the weekly chart, the pair has formed an evening star pattern that again supports the bearish argument.
Short
by forexnoobmaster007
GBPINR rising wedge breakdown confirmed, selling to followThe pair was moving in a steep rising wedge pattern from the past 1.5 months. GBPINR, in the previous session, gave a daily close below the lower trend line of the wedge pattern, confirming a breakdown. In doing so, the pair also breached crucial support of 21 days EMA (88.1609). Now, it is susceptible to heavy selling that can take the price to 86.5692. The stop loss for the trade will be slightly above yesterday’s high at 88.9253.
Short
by forexnoobmaster007
Inverted H&S, second shoulder still under creationThe price movement of the pair is forming an inverted head and shoulder pattern with the second shoulder in the midst of formation. We can enter a buy position from the current level with stop loss at the crest of the shoulder at 107.868 till the first target at 109.493 which is also the neckline. After the prices breach the neckline, TP 2 and Tp 3 will activate. As you can see the movement of the price can take two approaches. The first one is the price consistently moves above to Tp3 like the blue arrows show. Or the price can take the second route, where the price witness pullback after Tp2 is hit before it targets Tp3 as shown by the orange arrow.
Long
by forexnoobmaster007
Rare Diamond pattern; expect selling up to 1.09 level.The pair has formed a diamond pattern, which is very rare. The pattern is favorable for bears. The price can take a break down from the current level or can first move up to 1.10532 before any bearish move. The tp for the trade is at 1.09685. If we get a daily closing below this support, we can look at 1.09 as the next target. For the entire trade setup, the stop loss can be set between 1.10532 – 1.10755 area, preferrable close to the upper level.
Short
by forexnoobmaster007