Best Thread Potential setups

Status
Not open for further replies.

astondan

Junior member
34 4
Cadjpy

Hi all,

Bit of a long term set up for you as opposed to the excitment of intraday (i'm a crap scalper!).

CAJJPY weekly chart below to illulstrate the long term view first. Price is currently hovering around the historically important 84 level and last week broke above an ascending TL in with relevance back to 1994.

cadyenweekly.gif

Next is the daily chart showing two ascending TL's which have been supporting/resisting the upward trend since the beginning of the year. Price finally broke through the long term TL a week back Friday and the perfect confluence was last Wednesday when long and short term crossed, giving neither a hammer nor hanging man (at least to my novice eyes).

Todays action is obviously bearish but if it fails to break the TL, the support and momentum is there to look for PA to go long with some confidence.

cadyendaily.gif

Hope this of interest to the thread (i'm more lurker than poster across here)
 

Blue Ruin

Active member
116 81
some 2 bar hourly action on AUDJPY

Update: off a good level at 74. Resistance into support. Clear air above recent highs if it goes.
 
Last edited:

elitejets

Established member
943 435
Usdcad

The retracement bus for shorters on USDCAD could be coming up soon...
50% retracement of Fridays bar and 1600 level maybe
 
  • Like
Reactions: Bloodhound

bbmac

Veteren member
3,584 787
gbpusd

Cable finds support at the prev minor sw hi circled in white, the 23.6% of the 4512-5248 being in the vicinity too. No real 1hr price pivot near to current price in terms of SBR potential , 50% fib of the 5248-5066 current down move nearby.

G/L

 

Blue Ruin

Active member
116 81
Careful eurgbp longs - taken a disliking to the daily trend line and 38fib
Closed mine as soon as I saw that gbpchf pin you mentioned. Long there instead.
 

ilplusq

Member
88 21
another point of view

Quick heads up on a level for NZDUSD.......
I look at NZDUSD a little differently. It is possible that it is a breakout to the upside of the descending TL and now the price is trying to test it from above before taking off higher. The more recent ascending TL is there, too.
 

Attachments

Last edited:
  • Like
Reactions: Bloodhound
Status
Not open for further replies.