This ascending channel on the weekly chart of USD/CAD presents an opportunity for a short breakout trade. The pattern's borders are shown with the yellow lines. The potential entry level - with the cyan line. The potential take-profit level - with the green line. Stop-loss is to be set to the high of the breakout bar (not shown on the chart).
Fairly clear double bottom gone in at the 15.7 level for Silver, and the direction has changed as we see in the rising channel. You can see we've broken through at zone of support and resistance at 16.2 and that should provide a base now for us to move higher. Look for long positions from close to the bottom of the channel, to capitalise on this move. I believe,...
The Loony seems well bid above ascending channel support and we are looking for a move back towards 1.36 over the coming weeks. Pair finished Friday higher, despite a stronger than expected Canadian jobs report and NFP miss. Support is a daily zone stretching from 1.3170 down to 1.3080, with ascending channel support confluence at 1.3147 and counting. A daily...
Price is still showing respect to the Support/Trend line. Price should begin its climb back to the resistance line/high. 1.3400 good first target and place to re-evaluate if the upward move will continue.
Hey Traders, today on Gold we have an ascending channel. From the looks of it there is a corrective structure which should reach the bottom of the channel. If price reaches the bottom I will look to buy. With the help of MACD price is very predictive. There are big bullish formations on the MACD and very small corrections, so just as my notes in the chart say, we...
Buyer power decreasing as the price unable to make new High after several attempts. Price break uptrend channel and retested new resistance, continue to go south now.
Potential reversal signal forming. Early EP is now at near $56.50 with tight Stop Loss. Wiser entry is to wait reversal signal to form/or after price rejected the support /ascending channel at $56.50
VISA: Critical Support Level. Price unable to make new high after several attempts. Potential for bullish reversal, but chances to break below channel is there. # However, do not short Visa as it is Strong Fundamental Stock. Overall performance is uptrend since IPO. Enter for long position if price break above R=82, SL level set below S=75 or below uptrend channel.
FX:NZDUSD The rate is currently testing the former broken falling channel support as the new resistance. I am looking for a strong rejection lower to enter new short position on the larger head and shoulders pattern trade idea . I would like to see a bit deeper retracement higher for the rate to test the neckline of the head and shoulders pattern around 0.6960...
GBPJPY break the uptrend channel Let's find some place to short the gbpjpy The first level I may consider will be 146.00 Will tend to short GBPJPY when price pulls back and aim to 141.80
there is Breakout of the Ascending Channel, the pullback is being broken now, there is also a Huge divergence in the MACD which supports the idea, please apply your own strategy for this kind of situations.
3 Bearish price action patterns
Bull bat pattern near completion. Price on rising channel. Almost reach channel floor for potential rebound. RSI is turning upward away from oversold zone. PRZ $1.30756 - $1.31606 This is a personal opinion, not an trade advice.
USDCAD made an impressive move higher today after finding support at the bottom of the channel shown in the chart above. Using yesterday's huge bullish engulfing candle as confirmation this is likely a good entry point for a long position.
Potential 3rd test up. AU has been trending since December 11th... so... I'm riding the wave to see how far it goes.
UC is ready for the next Swing and the Buying zone is already defined
Possible Gartley lining up Also Bigger Descending channel Also smaller Ascending channel ABCD pattern , currently at D
The ascending channel of $NZDUSD same like $NZDCAD. We are eagerly waiting for a price action on this level. Based on PA we will decide about our trade. What you think? Will it hold or break? NZDCAD Idea: