Price made a weak reaction at the 1.4826 level, which failed to produce a new low. I am seeing price attempting to breach higher. By trading in anticipation of this breakout, you can get a slightly better R-multiple. If price pulls back and fails to hold above this level, I can avoid a loss that would occur if I enter after the breakout.
Price tried to trade below 1.2595 and failed to sustain. After ranging for the past couple of hours, the break above 1.26715 indicates further upside potential. To truly see if this upside will sustain, we will need to see if price holds above this level. If it crosses below, the trade can safely be scratched.
Hello traders, I totally forgot about the congressional meeting with Powell and Yellen.. That and the debt ceiling talk completely spooked traders. VIX jumped up to 24 by 10pm EST.. nothing says uncertainty like that. It's been a little tough to gauge the direction of the market the past few days, but I'd like to share a little insight. Let's break it down: - ...
NZDUSD: RSI divergence, test of the downward channel and reversal candle, make a short tern pullback at least until the broken base of 0.6985-95. We try buy orders at current levels, setting the stop below the lows, targeting 0.6985-90.
Hello my friends, Tron is one of pioneer projects in crypto world. It is more potential to take good dominance of market in near future. In this chart I drove support and resistance lines to show best places to buy and sell. Even I prefer to hold TRX for future. Please follow me and like the idea if you think it's worth it.
Keep an eye on this pattern formed in #TATASTEEL can give a good breakout on the either side of the pattern can book 1:2 RR
Hello,Traders! CAD-JPY broke the falling resistance And went up just as I predicted in my previous analysis Now, the pair has hit the target Which was a massive daily horizontal resistnce And we are already seeing a good bearish reaction I think that the correction will continue And the pair will fall lower towards the target on the chart Sell! Like, comment...
GBPUSD. The pound has a history of respecting the channels and the 1.3520-30 area is where it tests it for today. The channel has already been tested, so we are buyers at these levels (1.3535-40) with stops below 1.3495 and initial target at 1.3580.
Hello and thank you if you are a regular reader 🖖 Welcome if you are new to my daily publication... 👍 Publishing this post on a daily basis helps me avoid distractions and sets my focus to be fully in line with the now in the marketplace. Knowing you read me keeps me accountable and forces me to be objective in my analysis which helps with my own trading emotions...
NZD/USD has moved steadily lower since it came into contact with a descending trendline, risk orientated assets are facing several head winds at the moment. These include the Evergrande situation, rumblings of potential ''bubbles'' in stocks and housing and the growing realization that the fed will not continue its unprecedented monetary policy indefinitely. While...
Where would you set your stop loss if you choose to go long BTCUSD ?
GBPUSD: The pound doesn't seem to go anywhere and it may continue its short term sideways movement. We are buyers at the 1.3655-65 area for a short term bounce at 1.3700-05. We will set tight stops below 1.3645.
US OIL: The uptrend is approaching important resistance area at 77.00-30. July's top alongside with the upper trendline of the channel that contains the uptrend, will make the continuation difficult without at least a short term pullback. We will try shorts at the 77.00 area. Stops above 78.50 targeting 74.50-00
GBPAUD: The pair is testing the strong support of 1.6950-60. An upward reaction seems likely. So we try Buy positions at 1.8760. SL below 1.6920 and Target 1.8805.
AUDUSD: The area of 0.7315-20 is the first important resistance for today as it contains the previous highs and the PP R2. We will try short positions at 0.7315. We will set our stops above 0.7336 targeting 0.7290.
Please like my idea if you agree with my analysis, share it if you believe the same, and comment for your thoughts or questions. I appreciate you all. Observation 1) Market in a downtrend since September 27th, 2021. 2) Previous market low violated. 3) Measurable selling pressure at the break of structure. 4) Current break of structure (previous market low)...
Hello DLF Price Action Analysis Before Market Open. Date- 09/28/2021 Time- 08:25 AM Feel free to give your reviews on comments. Thanks