Hi Fx Musa
We were expecting some bullish movement off the back of that bullish rejection candle, but the downward momentum prevailed when the ecb dropped interest rates.
The market is just way to roughed up to be entering in at the moment, we’ve got NFP coming up tonight which is going to add to the already large amounts of volatility. It’s best to steer clear for the rest of the week.
thanks DnB Price Action ,
This could cause some volatile Australian Dollar movement, the only interesting thing I could spot on the charts over the weekend is on the AUDCHF daily timeframe
The market has rejected moves higher into a dominant resistance level on the daily chart. The thursday candle closed as an aggressive bearish rejection candle with quite a large upper tail. The large upper tail suggests price tried to break through the key level and created a breakout trap for the bulls. Price collapsed back below the resistance level closing lower than it’s open price.
We can anticipate further bearish momentum off this setup. A retracement entry has already been triggered which I mess, so I guess we will have to wait for the next price action sell opportunity to manifest with the developing bearish momentum.
I noticed this bullish rejection candle and failed break of a long term weekly resistance on the GBP/CHF. Price is also well extended from the MAs.
Worth a counter trend play anyone?
I have noticed that the EUR/JPY has broke a significant weekly rising trend line has tested it once and sold of sharply. It looks like it has found some support at a previous low and retraced a little bit. Price is currently at the half way point of the strong bearish bar.
Thoughts on entering here for a continuation of bearish momentum?
Similar sort of set up on the CHFJPY as well but with more room for follow through as it has retraced less of the large bull move.
Hi matt thanks for sharing,
THe GBPCHF candle has a close that sits way to high into the candle, for us to consider that a signal, the closing price needed to be much lower. It may work out for you but.
EURJPY is something we’ve been watching, we are actually waiting for another sell signal to develop closer to he mean value. If a bearish rejection or pin bar occurred around the mean + testing the old trend line that would be a nice hot spot on the chart to short from. We just need that bearish signal first.
Nikkei 225 , today up 1.30%. There is big correlation between Nikkei 225 and JPY pair. so wait for Nikkei 225 down then sell EUR JPY .
dear JPY trader i told u yesterday Nikkei 225 , is up mode , yesterday up 1.30%., today up 2.23 %. There is big correlation between Nikkei 225 and JPY pair. so wait for Nikkei 225 down then sell jpy pair
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The only issue with that AUDJPY inside day is that it’s sitting right on support. Yes if the lows are broken you will be in business.
There isn’t really many setups floating around at the moment. I am just waiting for a lot of markets response to support and resistance levels that are about to be tested. The GBPUSD is about to test it’s range bottom, I’ve got a feelign that it will break.
Waiting for a test of a swing level here on crude oil also…
A sell signal here would be really nice.
DnB WTI has strong weekly support at the $93 level on more than one measure…
Yes I see it, if we get a sell signal at the resistance level there, it will leave plenty of room to generate 1:3-1:4 before hitting that support level.
GBPUSD closing heavy on the range support at the end of last session’s NY close. This trading session will probably be the deciding factor whether a breakdown in price occurs or not. Really hoping for a bearish breakout of this range here. Bearish markets are much easier to work with.
If a breakout does occur, waiting for a retest of the range + a bearish price action signal to jump in with the bearish momentum.
GBP USD 4H
inside Fake setup.
I love it this setup
thanks
DnB Price Action
Be careful YEN trader Nikkei 225 up today 2.12 %
GBP USD 1 H
inside Fake setup.
I like it .
Thanks
DnB Price Action
EUR/CAD has formed a inverted hammer rejecting higher prices and closed below mean value.
Thoughts anyone?
