Here is my take on how to trade BAC's ascending triangle. If I were to take a position at the current price of about 15.68 and set a stop between 14.92 (on the tight sight) and 14.72 (on the looser end) I would be risking anywhere from .70 to .90. Say I take a stop at .80, well my target is actually below the previous high ranging from 17.5- 18.0, making my...
In H1 TF I found a nice Acending Triangle Pattern, if break this triangle, I think this pair may be go to 1.30 level which is very strong resistance. And this pair is also in uptrend mode. We looking for Long position after break this above resistance line of triangle or after retrece from this resistance line. And put stop loss near swing low point of this pair....
AUDUSD. Still in a downtrend I believe will see another leg down if we manage to get good Price Action off this level. Which could make a decent entry also on a break of the ascending triangle.
The uptrend on the daily is progressing nicely.
Volatility is still relatively low, which is a great sign for a strong trend. This is shown by the ATR indicator which is the 10 period ATR versus the 200 period ATR.
RSI is inching close to 70 which is likely to go above 70 for that final push we need to break above $305.
The price has formed an ascending...
A descending triangle is shaping since the 14th of Februari. Notice that this triangle is forming after a pretty bullish trend starting from December 2014. This could mean a trend reversal triangle.
There were still people buying up the 1.9600 level. I assume they have a relative tight stop because the first stronger support level is at the 1.9380 area which...
I still say this one could go either way, but the market is starting to show a clear bullish preference based on the ascending triangle we appear to be in. A break above recent highs would create a good long opportunity and a break below recent lows would break the bullish trend and confirm bearish targets outlined on the chart. I'm marking this idea as "long"...
GBPAUD has been a pair that we've been tracking for about a month now. For the past w\few weeks we've been waiting for the ascending triangle breakout and now that it's occurred the next chance to get long would be a retest of structure.
As the market has wiggled it's way down, we've set up a potential bullish Gartley pattern that can be used to take advantage...
$240 is important daily resistance and the price appears to be forming an ascending triangle, getting ready to break upward. A clear break is at $243 or so on volume. If this happens, I'll ride the trend until it fails.
A couple of observations:
1 The 1.618 extension with a prior 6.18 retracement seems to have slowed down the pair from moving higher.
2 A daily AB=CD pattern / 3 drives pattern have completed.
3 The pair recently broke out of ascending triangle on the 4H chart.
4 The Bollinger band shows extreme price movements on the 4H chart.
Looking for an entry setup with at...
Last night the RBA cut their growth estimate to 1.75%. After having recently cut their rate to 2.25%, this should be enough to weaken the AUD, creating selling pressure on this pair. My fundamental bias on AUDUSD is therefore bearish. If on top of that the NFP would come out favourable today, there would be one more reason to look to sell it. As always, I want to...
EURUSD is slowly but going to break out of its ascending triangle. Odds are in the favour of long positions with the targets of weakly R2, R3 resistances, but ofc. there are possibilities of following the blue trend line.
The ascending triangle on GBPUSD. we are considering an upward movement for this currency pair from the level of 1.60833
P.S. accidentally pressed "short"
