USDHUF Buy Idea @Weekly Demand Zone (253.474 - 250.029) Buy Limit: 253.402 Stop Loss: 249.648 Take Profit: 260.852
USD broke falling wedge on daily against HUF. It has completed 5 waves of the recent mid-term bullrun and is starting an ABC correcion potentially. RSI is showing bearish divergence on daily. There is a short term 0.786 support of the overall Elliot 1-5 cycle at around 276.6 level - I am expecting this to break given the bearish confluences (falling wedge pattern...
USDHUF is consolidating (4H RSI = 54.112, ADX = 17.781) on the Higher Low line of the 1D Channel Up (RSI = 63.148, Highs/Lows = 0.2450). We are going long, TP = 283.200.
USDHUF started corrective action. Two fractal movements can be identified in the exchange rate. In the second fractal I have a growth of 1.68 ATR. From this, the second fractal target is 264.93 HUF. From this level, the rise can continue.
We are buying a pivot breakout at the 60 minutes that is a continuation of a major uptrend at H4. The stop loss is at the last bottom of the pivot an the target at a 100% fibo expansion.
USDHUF buy idea @ Demand Zone 250.910 - 242.360 Buy Limit: 251.017 Stop Loss: 241.291 Take Profit: 263.522
Sell USDHUF. Touching resistance as well as SMA50. In addition, doji formed yesterday.
Head and Shoulders setting up on the Daily time frame.
the mkt break below the support and retested, but last week's candle is not quite bearish
A nice breakout in USDHUF. A sort of inverted head & shoulder structure has appeared. The day is not over yet, but I guess the close will stay above the breakout line.
Thanks to @chartwatchers I discovered this pair and found out that it was a pretty interesting setup for my strategy. IMO, Arpi is one of the best trader around here and even he teached me lots of knowledge through his ideas. So, this pair is breaking up to the upside on 4H. So we should have a nice follow up on 4H, then when daily meet the upper band we will...
looking to buy at low of the correction but be careful as more down is possible. if no buy setup i will wait for breakout and flag before buying
Next one USD pair with potential to form another one wave up. I will wait around FIBO 61.8 retracement to open Long position with R/R 2:1.
Weakening Forint! Before new highs there will be some smal set back, but I would not like to see below 284.50. I'm in long from 276, after a breaking. I hold the stop at 271, but now it is at 284, and hope closing it above 300.