Finally the breakout we were waiting for for months! Here is my previous post of this setup:
looking at the previous structure/support lines and the bounces, there maybe 500+ pips in store here - IF she breaks -and holds- below 74.50 stops above last high at 79.50 area
The price gave us a good support zone, if the support is broken and then retested it has a lot of probability to fall further.
Could we see a break of structure ? Indicating some bearish momentum ?
AUSNZD broke the upward trend and the support level as well.
The symmetrical triangle that followed the upward curve has just broken, signalling a possible trend continuation pattern. Bullish gold?
Looking for a break of the upward support, that will be a good entry for a small position and then I can add more if it retraces back up to that line.
Pair: NZDUSD Timeframe : D1 Trade : LONG Entry now : 0.66538 Take profit 1 : 0.67974 Take profit 2 : OPEN Take profit 3 : OPEN Stop loss : 0.66370
Buy when it break trendline up.target 1.94078
Weekly - Bearish engulfing - Cross and close below 200EMA - Break and close of rising weekly channel (18 week uptrend) - RSI bounce from overbought territory
With the Long-term trend being down and the break of a Short-term up-trendline, I see a Short opportunity together with Price Action Bars, ofcourse. Although We can see that Price currently is in an Range structure and we have to be Cautious for the Tests of Support and Resistance. Further we see previous Divergence of the RSI with the Dominant trend and RSI at...
With USDCAD breaking a daily trendline developed since May 2015 on the daily timeframe, the pair might be finally heading back down. With prices currently under the 100 MA and below the trendline, i would personally stay away from the pair until it goes back up past 1.36563, or until it breaks 1.34439 to head for lower lows.
I HAVE BEEN STRUGGLING SOME DAYS WITH THE SAME SITUATION, I BOUGHT THE USDCAD AFTER THE PRICE BROKE PREVIOUS RESISTANCE AROUND 1.3817, THE PRICE WENT UP BUT COULDNT MAKE A NEW HIGH,SO AFTER THIS I MOVED MY STOP LOSS A LITTLE BEHIND THE LAST 5MIN LOW AT 1.3840, BUT THE PRICE PASSED THIS PRICE LINE SECONDS BEFORE THE RELEASE OF THE NEWHOME SALES...
Gold went up in price and probably catalyzed this jump Have not looked into much of the fundamentals but if it has survived this long then I'm alright with technicals alone
With Gold breaking a strong daily trendline and following a beautiful retracement, i expect gold to continue its bullish momentum onwards. Risk to Reward ratio seem seems like its worth to take this trade