Mj-arr_investmentclub

Mj-arr_investmentclub

Using trend analysis, price is generally in a downtrend. But has been going through a re-tracement period (Outlined by the counter trend drawn). Price failed to break through the previous Lower High (LH), this implies that the downtrend will continue. Plus price broke the counter trend. Signal for a short move.

Mj-arr_investmentclub

The general trend of USDCAD is a downtrend, indicated by the red trend line.(This means bear moves are more likely to win than bullish moves). Therefore, price will either re-trace back up the trend line/near the trend line and then resume its bearish momentum. Or price will break and close below the zone labelled zone 2 and continue with its bearish momentum...

Mj-arr_investmentclub

Price may find a strong support on trend line. Strong bullish momentum after price finds support. Profit targets-1.25132 1.26215 1.27442

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Failed double-bottom setup Price has repeatedly tested the 1.23659 zone with minimal support from the zone. Price is more likely to break this zone and drop in the long-term

Mj-arr_investmentclub

Price has recently been on an up move Price is at a consolidation box A break of the consolidation box will dictate our next move. A break with a close above the box will expose us to a buy and take profit at the resistance trend line

Mj-arr_investmentclub

Price has been in a consolidation box in the past 4 weeks. A break above the zone(box) with a close above the zone will expose us to a buy(bullish momentum) and take profit at the resistance trend line. A break below the zone with a close below the zone will expose us to a sell. Price may rally higher and find strong resistance on the trend line leading to a massive drop.

Mj-arr_investmentclub

GBPUSD is at a strategic support level on the 4-Hour chart on the drawn trend line. the currency pair has shown a strong up move in the recent past and minimal bearish moves. Our stop loss will be placed at 1.24669 while out take profit will be placed at 1.26208,1.27701 and 1.29580 respectively. This post does not provide financial advice. It is for educational...

Mj-arr_investmentclub

In the 4 Hour time frame, price was previously on an uptrend(shown by the Higher Highs and Lower Highs), forming a rising wedge. Price broke the lower trend line and moved lower. Price then reversed to the daily zone 1. What to anticipate... Whether price will break through the previous Higher High (0.62037) and close above it/higher (which means the uptrend will...

Mj-arr_investmentclub

The general trend in the daily time frame is a downtrend. But the most recent price momentum has been an uptrend still in the daily timeframe. That uptrend may be price retracing then resuming the general downtrend. In the 1 HOUR chart, a rising wedge has formed and price has broken off the lower trend line. Meaning price will go lower. For more confirmation, we...