USDCHF Forecast and Potential Cypher Trade Setup 11th April 2014
USDCHF Forecast and Potential Cypher Trade Setup 11th April 2014
Daily Chart
- On a Daily Chart we could see a huge fall continuous for 4 days
- Fall from ascending channel
- Looks bearish and some may argue we could find lows as we continue the bearish tone. However I have spotted this cypher pattern which could work nicely due to the fact these patterns if formed at top and bottoms work much better
Hourly Chart
- We have a potential Cypher Pattern
- Stochastics is extremely oversold but remains in the oversold (slight divergence) - this doesn't mean anything but still in a bearish mode
- RSI - slight divergence where its starting to head up above 30
Outlook Trade opportunity
I would place Long trade now with stops below the XRisk Level Medium
Tips -
Always take note of any economical news event on our provided calender below
AUDJPY Possible Trade Setup (Short) - 09.04.14
AUDJPY Possible Trade Setup (Short) - 09.04.14
Hourly Chart
- Confluence of two fibs 38.2 and 61.8
- 50 and 100ma pointing down + 200ma is flat and crossing the 50ma
- Shooting Star Candle
Outlook Trade opportunity
ShortRisk Level Medium
Tips -
Always take note of any economical news event on our provided calender below
USDJPY Forecast and Setup for the week 8th April 2014
USDJPY Forecast and Setup for the week 8th April 2014
Weekly Chart
- Last week Candle was a Shooting Star Pattern
- Cautious here because the Body of the candle is above previous body, which has a lower chance of a reversal candle
Daily Chart
- We have had Bearish run since Friday, however we are nearing support at around 102.700 which has
- Fib 50, 38.2
- Previous Resistance which now should hold as support
- Outside return of an Descending Trendline which could be a retest of the break
- Ichimoku Cloud and Kijun san line
- We also have a hidden stochastic positive divergence (possible)
Hourly Chart
- Early Asian Session we continue to see sell off, however bound a good bounce from the monthly pivot / W S1 Pivot which also is a previous resistance, which becomes support
- I would like a smaller push down towards 102.500-600 before attempting a long scalp
- Stochastics on the H4 is at oversold still
Outlook Trade opportunity
If there is a lower push down, would look for PA bounce to go for a long.Going for a long now is risky with the big bearish Candle (on the H1)
Note we have JPY data today
Risk Level - Medium
Tips -
Always take note of any economical news event on our provided calender below
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