So it finally got to its tipping point. Have waited quite a long time for this. Now the question come; is it going to consolidate, reverse or continue up. It depends if a catalyst drops and distort the technical indicators, over the next week. I truly believe it is going down. I'll wait to see a more aggressive short action. I might add a order to kick in if it...
Sell below 0.7700. Stop loss at 0.7790. Take profit at 0.7520. Reason for the trading strategy: We turn bearish below 0.7700 resistance (break of ascending support line, pullback resistance) for a push down to 0.7520 support (Fibonacci retracement, horizontal overlap support). RSI (34) has started to break its support and sees bearish divergence versus price...
Buy above 0.7655. Stop loss at 0.7603. Take profit at 0.7780. Reason for the trading strategy (technically): We remain bullish above long term support as 0.7655 (Fibonacci retracement, long term ascending support) for a push up to 0.7780 resistance (long term resistance). We watch RSI closely to ensure we are not being faked out by a bearish exit. RSI (34) is...
Buy above 0.7696. Stop loss at 0.7643. Take profit at 0.7780. Reason for the trading strategy (technically): Price has bounced up really nicely above our support from yesterday. We now remain bullish above support at 0.7696 (Fibonacci retracement, horizontal pullback support, breakout level) where we expect a further push up to 0.7780 resistance (swing high...
Buy above 0.7659. Stop loss at 0.7604. Take profit at 0.7780. Reason for the trading strategy (technically): Price is testing major support at 0.7659 (Fibonacci retracement, horizontal overlap support, pullback support, ascending support) where we expect a further push up to 0.7780 resistance (swing high resistance, Fibonacci projection). RSI (34) is seeing...
This might happened to AU like NU last week. Managed to hit sharp entry. AU buyers still looking for higher price before big sellers come in. Ref: prntscr.com Patient is key in trading..
Buy above 0.7659. Stop loss at 0.7604. Take profit at 0.7780. Reason for the trading strategy (technically): Price is testing major support at 0.7659 (Fibonacci retracement, horizontal overlap support, pullback support, ascending support) where we expect a further push up to 0.7780 resistance (swing high resistance, Fibonacci projection). RSI (34) is seeing...
Buy above 0.7600. Stop loss at 0.7510. Take profit at 0.7790. Reason for the trading strategy: Price is bouncing nicely above our buying entry from last week. This week we remain bullish above 0.7600 support (Fibonacci retracement, horizontal overlap support) for a push up to 0.7790 resistance (Fibonacci extension, Horizontal resistance). RSI (34) is seeing...
Buy above 0.7659. Stop loss at 0.7604. Take profit at 0.7780. Reason for the trading strategy (technically): Price is above major support at 0.7659 (Fibonacci retracement, horizontal overlap support, pullback support, ascending support) where we expect a further push up to 0.7780 resistance (swing high resistance, Fibonacci projection). RSI (34) is seeing...
AUD/USD trade sell Pivot point rejection Pin bar at resistance level Closing below pin bar`s low
Retest .7555, fail to close above and a short position would be very possible at this point. Strong bearish MACD divergence.
Market price has been on a steady uptrend since the 5th of 2017 but momentum stoped its upward move on the 17th of this month. Momentum has been creating lower highs and higher lows since then. Momentum came back up to test the .001 level and is looking to break the lower trend line. On a break of the lower tend line a short position will be available with the 200...