Back with an example of key support and resistance levels on the H4 chart - Fibonacci retrace levels share strong confluence with pre-drawn S/R lines - Stops at 61.8% level with hopefully a smooth ride down staying within the tend line. Good luck trading!
Confluences : 1/ Trend 2/ break of 1.10 3/ EMA's rejected 4/ Fib in play 5/ Bounce of TL
A: If USD bounces off support here, look for new highs on a breakout above the downtrend resistance from March. B: Otherwise, the index will have another opportunity to bounce off support from May. Unless we see a breach below this support level, I firmly believe the index goes on to new highs and Euro and Oil go to new lows.
Hi All, I cant sleep and I am feeling a bit poorly so I thought I put my ideas in a clear chart to look at it in the days to come this is purely based on Technicals and trendlines, I think a deeper retractment is well needed before visting lower areas, on the fundamental side, even though Industrial production is come out lower than expected we know that Yellen...
I didn't see such a big move coming. I knew it was coming, but never to this extent. I also forgot to get out of my positions last night, luckily didn't take a loss, I had my stops set. but I made a fatal error nevertheless. But now its time to find a spot to short. The EUR can't keep on increasing
Lets see what happens..
Was hard to tell which way EURCAD would breakout of this wedge. We were leaning to the upside as our algorithm was pointing higher BUT ultimately we needed to see price confirmation. Once this pair broke above the upper wedge line by +10 Pips we were able to confirm our algorithm and take a long position. Keep in mind this is only the 1H chart and it should be...
Looking for a inverted head and shoulders to complete a setup, just need the right shoulder. Once neckline resistance is broken expecting a run to long term trend line resistance, failing then returning to neckline support.
We can certainly pullback below trendline. but there are more similarities in this chart to 1980s. IMHO. Monthly chart is not over so this week will be very telling if we do pullback. Extended QE in Europe is Dollar bullish and Euro bearish.. Is this factored in? Will see. But this chart shows can certainly go higher. Also note Dollar is well above all MAs...