EURGBP Possible Cypher Setup On the Daily Chart 18th March, 2014

EURGBP Possible Cypher Setup On the Daily Chart 18th March, 2014

Daily Chart

• The completion of this pattern is at the 78.6 which is also an area which has been respected as an S/R - This makes a higher probability if this trade was to take place

Outlook Trade opportunity

Bearish Cypher is looking good if market is to retest an important S/R area.

Risk Level Low

Tips -

Always take note of any economical news event on our provided calender below

AUDUSD - LIve Update - as we bounce of trendline

AUDUSD - LIve Update - as we bounce of trendline

My bias since 2 wks ago for the Aussie is still towards the around the 0.92-0.93, therefore I am looking for clues if there is a continuation of an uptrend or if I am wrong.

• Bounced of the broken descending trend line, which could provide support and bounce?
• However I am more happy if prices retraced 20pips lower around the 0.9050 / 50% fib from yesterdays swing low to high

I have a small long position 

Cheers

USDJPY Level to watch today for a possible scalp? 18th, March, 2014

USDJPY Level to watch today for a possible scalp?

1 Hour Chart

Total of 3 x confluence / overlapping

Area to watch today is the Confluence levels of Weekly Pivot + fib 38.20 + Inverse of todays swing of 127.2 fib ext.

Also on the second chart, the same area is also the top of the kumo clouds which acts as resistance

Have drawn some predictions of possible stochs divergence.

Outlook Trade opportunity

Short Scalp

Risk Level LOW

Tips -

Always take note of any economical news event on our provided calender below

GBPUSD Forecast and Trade Setup for the week 18th March, 2014 - Gartley?

GBPUSD Forecast and Trade Setup for the week 18th March, 2014

- Do we have a Gartley? 

or could a deeper retracement is needed as price hits a fib 127.2 fib ext?

Weekly Chart

• Stochs is starting to diverge and crossing and close to trading below 80 (note we have been trading in a stoch's overbought for quite some time)

Daily Chart

• Price has stalled and rejected from the Inverse Fib Ext 127.2 of the big drop in 2013
• However we are still trading above new support / monthly pivot
• The next resistance is only spotted from a weekly, which we have highlighted in Yellow

Hourly Chart

• Current Stochastics is showing strength to the upside, however price action from last week suggest perhaps a lower low is in favour
• Although the Fib 38.20(from feb low to high) with confluence of previous resistance, and current monthly pivot  is extremely important level to hold if we continue to bullish trend.  It is possible for price to break this support as a false break and bounce back up. Reasons are
• We have an ascending trendline at a Fib 50 level
• We have a possible Bullish Gartley Harmonic Pattern also at the same area of the fib 50 and trendline
• If prices were to retrace back to the fib 50 level, Daily Stochastics could have a positive divergence which will strengthen the trade

Outlook Trade opportunity

Possible Bullish Gartley - And if so, would take partials if prices goes back to the broken support.

Risk Level Low to Medium

Tips -

Always take note of any economical news event on our provided calender below