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Potential BEARISH AB=CD in QQQ 1-hour chartHey all! There is a potential AB = CD pattern formation in 1-hour QQQ chart. The pattern is still forming. The PRZ is between 294.55 and 295.09. There is a possible short if the price enters PRZ. Depending on your risk appetite, you can enter a short trade right after price enters the PRZ with a tight stop-loss or you can watch candle formations and look for a rejection around that level. Right now, the RSI doesn't show any divergence, but we are at the overbought terrirtory. If we get a divergence in the RSI, that will support the short trade. So, you should also watch RSI alongside the price. If pattern becomes invalid there is a chance that it forms an extended ABCD. I'll be watching. Have a great weekend!
NASDAQ:QQQShort
by TableLamp
2
Trade idea USDJPYPrice has been in a descending channel since 20th March, on the 23rd of June a strong bearish engulfing candle was formed on the daily, however sellers were unable to follow through and price has been climbing higher since. On the 1H time frame we have a head and shoulders pattern formed with a recent break and is currently in the process of retesting the neckline. I'll be looking for a bullish candle to enter long here. If i find an entry my objective will be around 107.73 however i may hold some of my position as we could be heading to the top of the descending channel which could be around 108.50. My stop will be below the neckline around 107.10. OANDA:USDJPY
Long
by AshuVax
EURJPY ANALYSIS NOTE: (MARKET IS REACTIVE AND NOTE PREDICTIVE) (LIKE AND COMMENT BELOW TO SHARE IDEAS TO SUPPORT ) From a daily perspective we can see price has been in a bullish market. REMEMBER: MARKET IS REACTIVE AND NOT PREDICTIVE. On the four hour chart if price can push through the resistance zone we can initiate a long position to the level of 118.559 zone. Monitor this pair from a 4Hour perspective for entries. If you have any suggestion, drop in the comment section below. FOREXCOM:EURJPY
Long
by Kelachi
2
USD/CADThis is my latest analysis on USD/CAD following a 1 Hour Breakout Strategy. I'm watching price action closely for a breakout at the TOP of the descending( bearish ) parallel channel with strong support at 1.3990/1.4000 Please feel free to leave a comment and share your thoughts. How does your analysis look? Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. This information given is not Financial Advice.
by MrDustin2066
2