AUDCAD,

TECHNICAL ANALYSIS

MONTHLY CHART

The price is now in a congestion marked by K and G horizontal line (highlighted zone). You can clearly see the 2 waves up and down, a typical characteristic of a congestion. 

Price is now at the top end of the congestion zone at K and has already completed the 2 waves in the congestion making the K resistance zone a strong halt zone. The next likely movement is another two wave until we will see either the bulls or bears succumb.

The period between green and pink arrows indicate averagely how long the price takes to reach the end of the congestion which is averagely 28 months. 

WEEKLY CHART

The weekly chart shows more inside action. The highlighted K-G zone is the same as the one above on the monthly chart. The 2 waves in the congestion can be seen here prominently.

You can see the strong reactions off the ends of the congestion zone like the strong pin bar, that triggered that strong sell of.

USDCAD Hourly 

SHORT TERM TECHNICAL ANALYSIS

Price is now reacting to a small trendline support and 21 Simple Moving Average. Close below B can lead price into support one C around 1.34485. Close above A disqualifies the setup

ADVANCED TECHNICAL ANALYSIS

AUDJPY, MONTHLY 

PURE PRICE  ACTION ANALYSIS

In-depth price pattern action analysis includes majorly the following as we had discussed in the prevvious article. 

• Analysis of the major swing moves and how long they have been lasting
• Analysis of the corrective moves and how long they have been lasting
• The current probable status
• General conclusion on the pair 

Analysis of major swing moves.

The major swing moves are indicated by the green arrows have been averagely lasting for about 13 months and moving over 2400 pips. As i had mentioned in the previous article, understanding of the price action of these major swings enables you not to get out of the trades too early or too late. It also enables you not to make entries into an ended/exhausted swing since you now know how long they averagely last

Analysis of corrective moves 

The corrective moves have been lasting averagely 2 years, atleast twice the period of major swings. I have marked the corrective moves with gray ellipses. Observing how long these congestion zones helps not to enter the major swing trades too early or too late and the timeframes to trade on during different market phases

 Probable status.

The price is now in the congestion phase. The congestion limits are marked by horizontal lines A and C with B being the major pivotal zone. Close above A or below C will confirm the next major swing in the respective directions only when the congestion period has lasted on average as the previous congestions.

General conclusion

Understanding pure price action helps you to know what phase the price is in apparently. Congestion on the larger times like this monthly chart give great swings on the weekly and daily charts with trading mainly limited within the pink rectangle. Just like how those up and down swings on that monthly chart indicate congestion on the yearly time frame

GBPJPY, 30MINUTES

DAY TRADE SHORT TERM TECHNICAL ANALYSIS

The price is now reacting to small trendline support T. Close below T can lead price into support zone around 136.956 marked A. Strong close below A can lead price into B. Close above R disqualifies the setup.

EURAUD,MONTHLY

TECHNICAL ANALYSIS

The monthly chart has a cup and handle formation. Continuation to the upside will be confirmed by a close above R. The price momentum up L should preferably be strong just as the previous swing K for price to reach the 1.81747 resistance zone marked T.  If the L swing is weak, the R resistance zone is likely to hold the price. Close below S disqualifies the setup.

AUDJPY, H4

SHORT TERM TECHNICAL ANALYSIS

Price is now reacting to support zone around 81.085 marked X. Close below X can lead price into Y support zone around 80.484. Close above P disqualifies the setup

AUDCHF

WEEKLY TECHNICAL ANALYSIS

The price is congesting in a triangle marked by the blue trendlines A and B. It is now reacting to the 21 Simple Moving support, the green trendline is next support. Close below the green trendline will price into the bottom of the congestion at B blue trendline. Close below B can lead to the retest of lows into support zone around 0.63893 marked S.

Close above R disqualifies the setup.

ANALYSIS RESULTS AND FOLLOW UP (WHAT HAPPENED)

This follows up the January and March articles

Trading requires alot of patience and discipline.

EURGBP MONTHLY

The pair reacted perfectly just as we had analysed in the previous article . The major swing is complete and now price is reacting to the major previous congestion resistance zone.

                                 Before                                                                                

 

After

AUDJPY, HOURLY

The pair performed much better than we had discussed in the previous article but USDJPY hourly did not confirm our entry

Before

After

GBPNZD,DAILY

The pair had quite a movement from our discussion. From T it retest the trendline S which corresponded with X resiatance zone which gave off a strong sell off into Y. Close below Y was confirmation of the bearish sentiment

Before

After

GOLD, H4

The price reacted perfectly as  as we had discussed with a clear buy entry

Before

After

EURGBP,H4

The movements in price where very clear even for the newbies to pick the short entries as we had analysed

Before

After

AUDJPY,H4

The A resistance zone held perfectly as we had discussed previously

 Before

After

GBPUSD,H4

The strong bearish candle closed below A and Y confirmed the short entry

Before

After

If you would love more charts or analysis of any currency pair. Please leave a comment 

NZDUSD, DAILY

TECHNICAL ANALYSIS

The price is coming into trendline support zone A which is the same support zone as previous congestion. Reaction strength off this zone will determine which the next market direction is highly likely. The chart below shows probability for downside especially if the high formed off reaction on the support trendline zone doesnt go higher than the high marked by the black arrow. Close above R disqualifies the setup.