Fresh out of a breakout from yesterday. Looking for a rejection at a support level of 0.7170 Weakness in USD / Lot of buying pressure Entry: 0.7170 SL: 0.7140 TP: 0.7280
Target is predicted at 0.80500 = 500 pips. Good Luck!
A Valid Symmetrical triangle formation with more than 3 touches on upper trendline and 2 touches on lower trendline kindles our interest to watch this for Breakout Direction. Almost from start of this week GBPUSD consolidating within the triangle and with the volume decline, Am expecting a breakout soon. Hit Likes for Agree... Comment your Views... Happy Trading !
USDCAD has retraced almost back to Daily Support and is balancing just ahead of the Support Zone. These Balance Area's make for good Breakout trades. Balance areas are simply just Accumulation or Distribution (we don't know which one it is until the market tells us, which is done by breaking out). This trade will be valid which ever way it breaks. I would think a...
GBPUSD on the 1hr has broken out of its Rising Wedge Pattern.. Look for a downside move back to structure and possibly further. I'm short @ the Break and Close out of the wedge. Stops are 1 ATR above the Breakdown bar Targets are shown on the chart.. I only trade 2 targets.. But i wanted to give you guys options are where good targets can be.
USDJPY has been putting in this Rising Wedge Pattern. These tend to break to the downside. The Rising Wedge is also occurring at Resistance. I'm waiting for the Break & Close out of the Wedge on the 60min before I enter. Stops - 1 ATR Above the Breakdown Bar Target #1 - Measured move of the Wedge Target #2 - 78.6% Fib Retracement You can you also use just...
You're going to be breakout trading. Follow the trend 'till you see reversal. Fibs an old highs and pools of liquitiy are likely places to see reversal, so keep your eye on it. *Warning, Forex trading is high risk, always use a stop* I'm going to place my stop at break even, and make it move with the trend as it progresses.
Here we have some very simple USDJPY analysis. I have a bearish bias on this pair however due to price sitting at around support currently I have provided a long scenario target. As we can see from the analysis USDJPY has successfully broken below what was a Major Monthly Ascending Trendline. The short term trend is also bearish on this pair. Taking all this...
USDCAD has had 9 Straight days of Advance and has been VERY Bullish. It's currently in a nice Rising Channel. The Balance Area at the highs looks like Distribution to me. A lot of times this is a "topping pattern". So, I'm waiting for a Break & Close out of the Balance Area (Yellow Box) and will enter a short position. Stops - Will be 1 ATR above the Breakdown...
Breakout trade opportunity on USD/CHF that has good reason for a temporary uptrend since surprisingly negative swiss retail sales data.
FX:AUDUSD CYPHER : Point B: 38.2% to 61.8% XA Point C: 127% to 141% ext XA Point D: 78.6% XC Target: TP1 38.2% CD TP2 61.8% CD Check links below for daily... Safe Trades;
Just observing similar periods in bubble cycle. Basing my understanding of Bitcoin bubbles/spikes from bitcointalk.org
A complete five wave rising wedge pattern. Price broke the lower rend which is a clear indication of downward movement.
Sell the support breakout.
A breakout followed by pullback. Add to that, a symmetrical triangle breakout.
This is an UPDATE to the short I called out a couple weeks ago and still hasn't hit Target #1 yet. We have ran into the Major Trendline this morning, which is concerning to me. We are putting in the Alligator's Mouth or Megaphone type Pattern. These typically result in a Major Breakout once price gets outside of the range. Still holding onto my short per my...