NZDCHF is trading on the edge of the key support area, while being pressed to the level, by the diagonal resistance. Thus, there are two tradable scenarios: 1-Breakout downwards, pullback>>short. SL above the support, TP on the chart. 2-Breakout of the diagonal resistance upwards, pullback>>long SL below the support, TP on the chart. Thank you for...
GBPUSD is trading below the strong daily resistance, having broken the diagonal support, yet forming a bullish flag pattern. The pair is sending conflicting signals, therefore we wait, in anticipation of a clear signal/breakout. The next impulse will either send the pair to the lower bound, where it might find a demand zone, or it will be pushed higher to test...
XAGUSD is trading below a strong resistance. The last attempt to break it failed which is manifested in a long shadow within the resistance zone. Now, the metal broke out of the minor diagonal support, with confirmation, which all taken together indicates that our target trade is short. TRADING PLAN: 1-short now 2-SL above the mirror diagonal line and...
EURUSD is now trading below the strong horizontal level in a bullish triangle, while also forming a potential double top. This mix of conflicting signals gives us a plethora of scenarios. Scenarios: Scenario1-bearish within the triangle. For then to retest the resistance and possible breakout up. Scenario2-Which could be a continuation of a scenario1-a...
The pair has reached an important support level, and has so far failed to break it. In addition to that, the diagonal resistance line is broken, and we see a nice pullback on the 2h timeframe. Therefore, we aim at a long. TRADING PLAN: 1-go long at the current level 2-SL, Takes on the chart Thank you for reading, like and subscribe and have a nice day!
Litecoin has had its own breakout against the dollar, just as every other asset, as the DXY is falling like a rock. However, as this breakout is universal, that means that it is a sign of the dollar weakness, not a sign of any particular strength of any asset per se. That means that as soon as the dollar finds its bottom, Litecoin, having broken the...
We are witnessing history as the massive breakout of the 11 year long downtrend line is unraveling before our eyes. However, the pair is facing the first horizontal structure on its way, and I am looking for a pullback short. The RSI is overbought and I'd guess that some will be taking profits now. With the massive resistance broken, I am not suggesting a...
The pair has broken out of the range and hit a new horizontal resistance. Paired with the fact that the Dollar Index hit a support on it's own and I say is not gonna break it easily, a return to the new support is likely. However, the pair is generally in an uptrend and is now trading in an upward narrowing channel. Thus, if there is a breakout up, then a...
The pair is has reached a strong support level+RSI is oversold, therefore, our target trade is long. TRADING PLAN: 1-wait for the diagonal resistance breakout 2-go long after pullback 3-SL, TP are on the chart 4-5:1 potential risk reward with 50% probability If the support level is broken before the diagonal resistance>> setup invalid Thank you for...
The pair is trading in an uptrend after the diagonal resistance breakout. Now, AUD/JPY is facing a strong horizontal resistance. WAIT for the breakout either way. For the bearish breakout the diagonal support needs to be broken too. The short is a counter trend trade and therefore has lower probability. On the other hand, the level is strong and the RSI...
The current CADJPY breakout is a signal of the bullish strength and I expect bullish continuation. There is a nice diagonal support that might guard the movement, however, the the surge up might be a quick one too. TRADING PLAN: IF daily candle closes above the level>> Long after the pullback. The pullback is reasonable to expect due to almost overbought...
The pair is trading in a downtrend, way above its diagonal support. The range that the pair was trading in is broken, and the pair is falling towards the new solid horizontal support, that is very well visible on the 3 day chart. The support of the range is now the new resistance. According to the RSI the pair is now oversold, thus, I expect a possible...
The dollar index is trading at a very strong support level right now, with 4 successful touch points. It is, however being pressured by a diagonal resistance, and, therefore, whether the level stands or it does not depends entirely on the diagonal resistance being broken. The current EU deal strengthens the Union yet, judging by the Dollar reaction to the...
GBP/USD is trading in a horizontal range that is a part of a larger bullish triangle. The current resistance level, that is presented with the two resistance areas is very strong and is quite likely to cause a bounce down. On a smaller timeframe we are seeing that the pair is trading along the diagonal upward support line and is currently looking bullish....
EUR/USD is now moving in an upward channel, facing the blue resistance area, yet no one is talking about the real resistance ahead of us, that is the 11 year downward trend line, that has so far worked like a clockwork, with only a slight violation attempt, in 2014. Now, the cross lines that you see on the chart represent estimated touch point of a price and...
USDMXN is in the downtrend and is currently trading in a small triangle. TRADING PLAN: Long now from the triangle support. Great risk reward and 50% probability. I trade longs ONLY on such pairs due to the expensive interest rate spread, which in the case of being long peso, is working in your favor. 3 targets correspond with the local levels, SL below the...
EURUSD is trading in an upward channel, and has just reached a confluence of a channel resistance and a lower end of the horizontal structure resistance. +a double top will be formed. Thus- we aim at short. The resistance, though violated on 8 hour remains intact on the daily and therefore I consider it to be valid. TRADNING PLAN: 1-Enter in the...
Apple is beating all time highs like there is no gravity these days. I do not intend to lament the FED, Voodoo economics etc.. I simply say: The current channel is too perfect not to be embraced completely, and, though a bit late to the party, one might consider going long every time the price touches the support. If the FED is printing money, I suggest you ride...