EURUSD Market Pivot Point On April 30 (updated) - mb trading forex reviews

EURUSD Market Pivot Point On April 30 (updated) ~ mb trading forex reviews

EURUSD market Pivot Point results On April 30, 2015. This results was generated by using our HotForex tools. And this tool has been generated from the Floor Pivot points , Woodie Pivot Points, Camarilla Pivot Points, Demarks Pivot Points.

For other Currency market pivot points, please to use our tool here : Forex Pivot Point Tool Gerenator. I Hope it will be useful for you. Thanks for visiting my blog. Good luck in your trading Forex. Regard, Tom Berlino.

Auto generate pivot point tool for currency market of EURUSD.

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Pivot Points as Support and Resistance - forex traders elite signals

Pivot Points as Support and Resistance ~ forex traders elite signals

Flag pattern and Pivot Points

Bear and Bull Flags

1 hour Daily Pivot Point S/R

In the Asian session, the Euro found support at the weekly S1 and market formed a kind of doji/ pin bar (reversal candle) on the hourly chart (Yesterdays low-blue line). From there, the Euro moved up to the 20 SMA (hourly) where market found some resistance (5 a.m.) (1) before market moved above the 20 SMA up to the daily pivot point at 1.2522 (2).

Daily Pivot Point Trading

The Euro reversed at the daily pivot point and market targeted the recent hourly low at 7 a.m. to clear some stops (3) (no breakout confirmation of the hourly low on 5 min chart) before the euro moved up again and penetrated the daily pivot point (4). However, we see on the 5 min chart (B) that market never confirmed a break of the daily pivot point (no close above the breakout candle).

Market rolled over at the daily pivot point and targeted yesterdays daily low. Yesterdays bearish daily candle made a retest of this low very likely (bearish sentiment) and many stop and limit orders are expected to be below yesterdays low. Market cleared these orders and bounced back and closed again at/ above the weekly S1 on the hourly chart (first breakout is often a false breakout).

On the 5 min chart (below) we also see that the breach of the weekly S1 and yesterdays low did not get confirmed. The 5 min candle at 3:05 p.m. closed at the weekly S1 (respected it) and the following breakout candle penetrated this support level, however, there was no succeeding candle which closed below the range of the breakout candle. Moreover, market bounced back at the 100 % fib extension from C-D at E.

Todays price action in the European session might be seen as a Head and Shoulders pattern (ABC) with the green line as its neckline (5 min chart). Market formed a nice 3 wave consolidation pattern at the neckline (visible on the 1 min chart-bear flag) just prior to the breakout (D)

5 min Flag patterns

On the 5 min chart we also see that the Euro bounced back after the unconfirmed breach of the weekly S1 and yesterdays low (blue line) (F), moved up to the 20 SMA (3:45 p.m.) where market consolidated before the Euro went up further and formed a bullish consolidation (bull flag). The green neckline seemed to provide some resistance. The bull flag got triggered, supported by the rising 20 SMA on the 5 min chart and market moved up again.

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Important chart levels like Pivot Points - forex trading co tv signals

Important chart levels like Pivot Points ~ forex trading co tv signals

Daily Pivot Points

Consolidation patterns 

5 min Daily Pivot Point

The Euro

closed at the low of June 1st (pink line) after market slightly penetrated this important chart level during the day. Today, market gaped slightly below Fridays low but initially reversed, closed the gap and consolidated around the pink line most of the day. On the 5 min chart we can see that the daily low of June 1st (pink line) acted as support/ resistance. The breakout candle at 3 p.m. (penetrating the pink line) did not get confirmed and market reversed to the upside after hitting the price zone of the consolidation between 9 - 10 a.m. GMT and the 61.80 % fib extension. The main resistance to the upside was the daily pivot point.


The Euro formed a bull flag/ typical 3-wave-consolidation (red circle) before penetrating the daily pivot (important chart level) for the third time (level already weaken) whereby market breached this important chart level (no confirmation) and triggered most of the stops above the daily pivot. The Euro is currently consolidation at the daily pivot.

The positioning of the stops above a high/low or striking levels is easy to anticipate and market often tends to trigger these stops. Very often these levels get penetrated and stops/limit orders get triggered but market reversed (no confirmed breakout-only stop fishing).

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Will Gold hit 1000 before the year runs out - forex live trading room reviews

Will Gold hit 1000 before the year runs out ~ forex live trading room reviews

In recent weeks, Gold has been trending down rapidly breaking barriers along the way. Will this dip continue? Well its just a matter of time.

Going by the weekly chart,price broke out of a triangle in high momentum after 14 months of formation. This triangle marked the successful completion of wave 4 .

 Price is running down to complete this impulsive move which could end at 1000 ( the next support) before the year runs out

The intra day (H4) chart is not contradicting the bearish move. The bearish move that happened immediately after the triangle formation has successfully completed three waves.

 Presently, its enclaved in the triangle of its own which will be completed at the successful break of the lower boundary of the triangle.

In the other way, price might break the upper boundary of the H4 triangle to test the resistance at 1240 thereby forming a zigzag corrective pattern instead of the current triangle before resuming the bearish move.

The breakout of the H4 triangle is very important to what corrective pattern we could have. A break below it will make gold dip and head to 1000 while a break above it will test 1240.

As price moves further, i will keep an update. Dont be far.

Let me add you to my mailing list to alert you of my latest findings.Send your e-mail to forexmaster05@yahoo.com

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Ending diagonal on Gbpchf - forex trading mentor reviews

Ending diagonal on Gbpchf ~ forex trading mentor reviews

I have some good runs on this pair and its stance to form patterns that I vividly understand makes me stay close to it.

Price is presently resuming the general bullish run which started in 2013. The general trend is Up! 

We saw the end of the 2nd wave zigzag corrective pattern and the resultant up move which broke  the resistance zone (indicated by the blue rectangle) showed that the correction is over and the trend has resumed upside.

Price is showing the end of wave 3 of the motive wave 3 with an ending diagonal which would make us expect a sharp corrective move downside. This resultant corrective move should end between 1.5430 and the support zone (1.5314-1.5280) before the bullish trend resumes.

Any dip below the support zone indicated will be a threat to the bullish trend.
I am expecting more price data/candles to ascertain the next big move
I will keep an update.

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Weekly Euro USD Analysis - best forex trading signals software

Weekly Euro USD Analysis ~ best forex trading signals software

Price Reversal

Triangle Consolidation

The weekly EURUSD Chart

shows the striking monthly low of January 2012. The Euro is currently trading at this striking low combined with the down sloping weekly 20 Simple Moving Average (SMA), which both is likely to act as resistance.

Weekly EUR/USD Chart Analysis

On the 1 hour chart we see the recent price breakout to the upside out of the large triangle consolidation pattern. The EUR/USD price moved up to the first butterfly sell target (127 %), which coincides with the daily R3 and monthly R1 Pivot Point resistance.



The confirmation of the butterfly pattern would implicate a larger price reversal below the recent triangle consolidation pattern. Thus, the prior market price breakout through the upside would get completely reversed - failed breakout. The price target of the butterfly sell chart pattern is normally the 161 % Fibonacci target - see popular chart patterns.

1 hour Butterfly pattern, Triangle Breakout 

The 5 min chart below shows the price reversal at the resistance level. The failed price breakout candles might be seen as a evening star pattern. After the initial price reversal market created a typical three wave consolidation pattern and later a small bear flag before the Euro continued the downtrend to catch the stop orders below the recent striking low - Stop Running. Often a small price retracement occurs after the penetration of an important chart level like the recent striking low to catch also some stops of the breakout traders.

5 min False Breakouts

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Fib extensions and retracements - forex trading entry signals

Fib extensions and retracements ~ forex trading entry signals

Fibonacci Trading

 Fibonacci retracement and extension levels

1 hour  Fibonacci Trading

Today in the beginning of the European session the Euro moved up to the 100 % fib extension (1-2 at 3) and daily R1 at 1.2548. The Euro struggled with this resistance level although EUR/USD moved up close to the weekly pivot point (1:35 p.m. GMT, 4). However, EUR/USD failed to close above this resistance zone (1.2548) on the hourly basis so that market moved lower (1:35 p.m.) to find some support at the rising hourly 10 SMA (red line-5). From there, the Euro strongly moved up above the prior resistance zone at 1.2548 (second test) and market was able to close above the weekly pivot on the hourly (second test) and 4-hourly basis (candle close at 4 p.m.). The hourly candle (3-4 p.m.) approximately closed at (respected) the 61.80 % retracement and daily R2, which in the following got broken with the beginning of the next hourly candle (4-5 p.m.) and the Euro moved up to the 100 % fib extension at 1.2603 (6).

5 min Butterfly sell pattern

Fibonacci Retracement at 61.80 %

On the 5 min chart we see that the Euro very often reacted at the 61.80 % fib retracement marked with the 0 on the 5 min chart and also at the 100 % fib extension market with the 1 on the 5 min chart (important Fibonacci levels). At the beginning of the London trading session at 9 a.m. the Euro made a abc retracement before market moved up to the 100 % fib extension at 1.2554. In the following market formed a typical 3-wave consolidation pattern/ butterfly (circled). After the termination of the consolidation the Euro reached the typical butterfly target (127 % fib extension-1-0 at 0) before EUR/USD reversed and took out the low of the prior consolidation (1.2526), which is also typical for a butterfly pattern. The Euro found support at the 10 SMA on the hourly Chart (2-3 p.m.) and formed a kind of ending diagonal on the 5 min chart (ED). In the following, the Euro strongly moved up to the 100 % fib extension, where market consolidated.

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Cadchf In a Triangle - forex trading machine review

Cadchf In a Triangle ~ forex trading machine review

On 23rd of september, I posted my view on this pair based on elliot wave analysis, you can read here.

Price has not been moving downwards as i forecast. With more price candles formed especially on the 4H chart, I have now come with an alternative wave count. Let me stress it that the two wave counts are still valid until price proves one correct and the other incorrect.

Price presently is consolidating in a triangle pattern and a break below it will support the bears and the first wave count will thereby be valid.

Going by the alternate wave count, the 5-wave bullish impulsive move explained in the first analysis might not be ended yet, It could be the wave 1 of the 5th wave of the impulsive move which started from 0.8400 support level and the present triangle could be wave 2 of 5.

 If the triangle is broken upside, price should continue the upside move to 0.8690-0.8700 which is a strong resistance.

Breakout of the triangle should decide the next medium term movement of this currency pair and I will watch out closely to be part of the move.

I am presently out of my bear position. I want to be sure of the next move before I join again.
I will keep an update of this pair as price movement unfolds

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Fibonacci and Pivot Analysis - forex black box trading signals

Fibonacci and Pivot Analysis ~ forex black box trading signals

Consolidation and Continuation Chart pattern

Fibonacci Retracement and Extension

The two green ellipses are consolidation pattern, which acted as continuation chart patterns - Flag and pennants. The consolidation price zone of the first Consolidation/ Continuation Chart pattern (green circle) acted as support as market price tested this price zone of 1.2460 again. This support zone got strengthened through the 61.80 % Fibonacci Extension level of the recent swing and the 61.80 % Fibonacci retracement level.

The Euro moved up to the price zone of the black circled Consolidation pattern, which looks similar to a small Head and Shoulders pattern (H&S). As often, the first retrace into a price zone of a prior consolidation held the first test and the EUR/USD moved strongly down again to the daily support level (pink line). The Euro consolidated for a while after hitting the daily support before the second strong leg down moved price to the Daily Pivot Support. From there, the EUR/USD bounced strongly up above the recent daily high to clear some stops and fool some breakout trader.

The failed first breakout often occurs due clear the stops and fool some breakout traders at striking chart levels like market highs and lows. This manipulative triggering of market orders is also visible on the further price action on the chart, whereby the weekly R2 held the market drop in the beginning of the US trading session.

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5 min EURO USD Pivot Points and Fibonacci

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Price shakeouts of weak hands - forex.com trading signals

Price shakeouts of weak hands ~ forex.com trading signals

Forex Chart Patterns

4-hour Euro Dollar

1 hour Euro Dollar

5 min Euro Dollar Chart Analysis

Consolidation Patterns

Weak hands getting shaked out in Trading

The Euro moved up to the1.2329 resistance level (purple line-October 2008 low and 20 SMA on the 4-hour chart) and from there market resumed its down trend and the Euro created a new daily low.

On the 5 min chart (below) we see that consolidations very often consists of three swings (red circles). One of them occurred in the Asian session between 2 - 3 a.m. GMT and after termination market moved to the 100 % fib extension. Another one occurred at about 10 a.m. and this consolidation is also the left shoulder of the Head and Shoulder pattern on todays market top, which took place at the 4-hour 20 SMA and the October 2008 low (purple line). The right shoulder is also a three swing consolidation and after termination the Euro penetrated the brown neckline. However, market consolidated below the neckline and slightly penetrated the neckline to the upside again. A reversal (failing of the H&S) or at least a shakeout got more likely due to the length of the consolidation below the neckline (Good trading opportunities at important levels/ pattern termination normally do not give much time for positioning as it is recognized by many traders and thus triggered fast).

The lengthy consolidation followed by the upside break of this consolidation through the neckline led to a kind of shakeout of the weak hands. The Euro found resistance at the 20 SMA on the 5 min chart and the price zone of the prior consolidation (right shoulder) so that the Euro resumed the down trend and triggered the H&S pattern. The 1 a.m. hourly candle triggered the stops below todays (green line) and yesterdays low (blue line) but the candle closed and formed a bull flag (on 5 min chart) at the recent hourly low at 1.2281 (blue line). The bull flag (blue circle) got triggered and market moved to the daily pivot and the 100 % fib extension on the 5 min chart. From there, the Euro resumed its down trend again. The 2 p.m. hourly candle closed at the daily S1 (red circle on hourly, weakening this level) and the following hourly candle starting at 3 p.m. moved below it and closed at Mondays gap opening at 1.2253 (brown line). Another timing setup occurred with the start of the new 4-hour candle at 4 p.m.. The Euro terminated its three swing consolidation pattern on the 5 min chart at 3:45 p.m. (red circle) and market moved lower again after the previous 4-hour candle closed and weaken the gap opening support (brown line). However, the Euro did not confirm the breach of the prior consolidation low at 1.2245 (green circle) and the Euro reversed and the 4 p.m. hourly candle closed at the gap opening (brown line). Market is currently consolidating around this level.

The pin bar at 8:25 a.m. after the penetration of the 1.2288 level (pink line-low of June 1st) led to a non-confirmation of the break and the Euro moved up again after the bull flag just above the pink line. A hint for the continuation was the close of the 9:20 candle at/above the daily pivot with the confirmation of the following 5 min candle.

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EURUSD Market Pivot Point On April 28 (updated) - new science of forex trading reviews

EURUSD Market Pivot Point On April 28 (updated) ~ new science of forex trading reviews

EURUSD market Pivot Point results On April 28, 2015. This results was generated by using our HotForex tools. And this tool has been generated from the Floor Pivot points , Woodie Pivot Points, Camarilla Pivot Points, Demarks Pivot Points.

For other Currency market pivot points, please to use our tool here : Forex Pivot Point Tool Gerenator. I Hope it will be useful for you. Thanks for visiting my blog. Good luck in your trading Forex. Regard, Tom Berlino.

Auto generate pivot point tool for currency market of EURUSD.

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A new look at Cadchf - day trading forex live reviews

A new look at Cadchf ~ day trading forex live reviews

Before I start,please take time to read my last post on this pair (click here).

Price broke the triangle I talked about and went back immediately giving me no real chance of buying.

The congestion is not looking over yet as we have price moving up and down to form a larger triangle.

As price adds up to itself, we ask ourselves, are we still in line?. Being able to follow price and allowing it to connect with us is very important. Thats why I chose elliot waves analysis as my primary tool.

With what price came up with of recent, it shows clearly that the first corrective wave ( wave 2) of wave 5 of the impulsive moves ( in blue) is about to be completed as a triangle corrective pattern. 

If this is anything to go by, we expect the price to break the upper line of the triangle for an explosive move upside. I will wait for a chance to buy at the break to target 0.8810.

Conversely, if price breaks the triangle downwards, what we will be having is a complex correction or temporary change in trend which requires more studies and patience.

Either way, price determines where it goes and we just have to understand him and follow. We should see a real action next week.

Connect with me on whatsapp: 2348134820569

Facebook: Sanmi Adeagbo

Twitter: @Forexelyte

BB Pin: 7FF79963

Let me also add you to my mailing list to alert you of my new post...                                                  E-mail: forexmaster05@yahoo.com

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Weekly Support and Resistance - forex signals trading systems to autotrade for free

Weekly Support and Resistance ~ forex signals trading systems to autotrade for free

EUR USD Weekly Chart Analysis

Support and Resistance levels

Daily EURUSD Support Resistance in Forex

The EUR/USD High of 2012

acted as resistance before this chart price level got broken (see red circle = breakout timing) and the yearly high acted as support in the beginning of February.

However, this important chart level got broken to the downside again with the second test on the 7th of February (First test was the green candle on the 5th of February).

The Chart illustrates the changing role of major support and resistance depending on price action.

The green ellipses on these charts show consolidation patterns, which most often act as continuation pattern like bear/ bull flags or pennants.


In addition, the orange arrows on the chart below illustrate the importance of these consolidation price zones as potential Support and Resistance levels. Furthermore, the charts also show the importance of Pivot Points, which often act as Support/ Resistance too. Another important tool of the chart analysis is the 61 % and 100 % Fibonacci Extension, which shows potential hidden Support and Resistance levels (see last chart).

4 hour Consolidation patterns, S/R, Pivot Point

1 hour Weekly Chart Update EUR/USD Technical Analysis

5 min Head and Shoulders pattern, Neckline, EURUSD

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EURUSD Market Pivot Point On April 29 (updated) - forex trading for newbies review

EURUSD Market Pivot Point On April 29 (updated) ~ forex trading for newbies review

EURUSD market Pivot Point results On April 29, 2015. This results was generated by using our HotForex tools. And this tool has been generated from the Floor Pivot points , Woodie Pivot Points, Camarilla Pivot Points, Demarks Pivot Points.

For other Currency market pivot points, please to use our tool here : Forex Pivot Point Tool Gerenator. I Hope it will be useful for you. Thanks for visiting my blog. Good luck in your trading Forex. Regard, Tom Berlino.

Auto generate pivot point tool for currency market of EURUSD.

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Pivot Point Trading - forex forecasts and trading signals

Pivot Point Trading ~ forex forecasts and trading signals

Daily and Weekly Pivots

Pivot Analysis

The hourly and the 5 min EUR/USD Chart below illustrates the importance of Pivot Points. The Euro traded between the weekly Pivot and the weekly Support 1. The weekly S1 provided support and the weekly Pivot acted as resistance.

Furthermore, the hourly Euro Chart shows a Continuation pattern (green ellipse - kind of Bear Flag). After market touched the 10 SMA  price went down, triggered the Continuation pattern and market price moved to the lower boundary of the trading range - weekly S1, whereby the Euro temporarily consolidated at the hourly 200 SMA (black dotted line).

The orange arrow shows that the consolidation price zone of the prior continuation chart pattern acted as resistance after the Euro temporarily breached the daily Pivot point and tested the consolidation price zone for the fist time. The second  test of the daily Pivot and the Consolidation price zone could not held the Euro (second test during a short time) and the market price moved further north to the upper boundary- the weekly Pivot point.

The 5 min chart below shows how the EUR/USD repeatedly failed to break the upper boundary (weekly Pivot). The lower boundary - weekly S1 - held after the unconfirmed break of the weekly S1, which created a kind of Hammer or Doji candlestick pattern on the chart. Another Continuation pattern and the 61.80 %  Fibonacci extension level are illustrated on the 5 min EUR/USD chart below.

1 hour Chart Analysis EURUSD - Pivot Points

5 min Candle Hammer, Doji and Pivot Points

Another Intraday example of the importance of the Pivot points on the 5 min EUR/USD Chart below

Trading Pivot Points in EURUSD

Pivot Point Support/ Resistance

The Pivot Points (Daily Pivot, Daily S1 and Daily R1) were important intraday Support and Resistance levels.


At 10:45 a.m. GMT market tested the daily Support 1. With the beginning of the new hourly candle at 11 a.m. the Euro tested the daily S1 again and market closed at this support level before breaking it for a short shakeout (Breakout Trading/ Timing with new candle-red circle). The same pattern approached at 4:25 p.m. at the daily R1.

The Euro formed a Continuation Chart Pattern at the daily Pivot Point before 2 p.m. (green ellipse) and market broke it with the new hourly candle. The breakout candle at 2:10 p.m. got confirmed due to the higher close of the succeeding candle above the high of the breakout candle.

The EUR/USD touched and successfully broke the daily R1 intraday Resistance. The confirmation of the breakout through the daily R1 led to a change from its role of resistance to support. The changing role from  resistance to support of the daily R1 can be seen after 3 p.m..


The continuation pattern at 4 p.m.(green circle) led to an unconfirmed breakout through the daily R1 after the 5 min candle at 4:25 p.m. closed at the daily R1 (red circle).

5 min Euro Pivot Trading Levels

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