6C Futures hit a major support level
Bullish push has already started
**This is just my trading thought process and does not constitute as financial advice.
**Trading with proper risk management.***
Type : Bullish Rise
Resistance : 0.77970
Pivot: 0.77300
Support : 0.76465
Preferred Case: On the H4, with prices moving within an ascending channel and above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 0.77300 where the overlap support is to the 1st resistance at 0.77970 where the swing high resistance is.
Alternative...
Type : Bearish Momentum
Resistance : 0.77305
Pivot: 0.76450
Support : 0.75615
Preferred Case: On the H4, with price moving below the ichimoku cloud and within the descending channel, we have a bearish bias that price will rise and drop from the pivot at 0.76450 where the overlap resistance, 50% fibonacci retracement and 100% fibonacci projection are to the 1st...
Type : Bearish Momentum
Resistance : 0.77305
Pivot: 0.76850
Support : 0.76430
Preferred Case: On the H4, with price moving below the ichimoku cloud and along the descending trendline, we have a bearish bias that price will rise and drop from the pivot at 0.76850 in line with the pullback resistance to the 1st support at 0.76430 where the swing low support, -27.2%...
Type : Bearish Momentum
Resistance : 0.77125
Pivot: 0.76835
Support : 0.76460
Preferred Case: On the H1, with price moving below the ichimoku cloud , we have a bearish bias that price will rise and drop from the pivot at 0.76835 in line with the overlap resistance and 78.6% fibonacci projection to the 1st support at 0.76460 where the -27.2% fibonacci expansion...
Type : Bearish Momentum
Resistance : 0.77755
Pivot: 0.77410
Support : 0.76840
Preferred Case: On the H1, with price moving below the ichimoku cloud and along a descending trendline , we have a bearish bias that price will drop from the pivot at 0.77410 in line with the overlap resistance and 23.6% fibonacci retracement to the 1st support at 0.76840 where the...
Type : Bullish Rise
Resistance : 0.78315
Pivot: 0.77760
Support : 0.77475
Preferred Case: On the H1, price is moving above the ichimoku cloud and has broken out of descending trendline which supports our bullish bias that price will rise to the pivot at 0.77760 where the swing high resistance and 38.2% fibonacci retracement are. Once we have upside confirmation,...
Type : Bearish Drop
Resistance : 0.77455
Pivot: 0.76955
Support : 0.76460
Preferred Case: On the H1, price is moving below the ichimoku cloud and along the descending trendline which gives us a bearish bias that prices will drop to the pivot at 0.76955 where the 50% fibonacci retracement and swing low support are. Once there is downside confirmation that price...
Type : Bearish Momentum
Resistance : 0.77520
Pivot: 0.77310
Support : 0.76480
Preferred Case: On the H1, with price moving below the ichimoku indicator, we have a bearish bias that price will drop from our pivot at 0.77310 in line with the swing high resistance to the 1st support at 0.76480 in line with the 161.80% fibonacci extension, 100% fibonacci projection...
Priceline of US Dollar / Canadian Dollar forex pair is moving within an up channel and now hitting the channel's support.
Volume profile of complete channel is showing less interest of traders at channel's support
But MACD is strong bearish and Stochastic is strong bearish so i would suggest if the MACD turns weak bearish or Stochastic gives bull cross then buy...
The price action was moving within a symmetrical triangle and after hitting the support it made double bottom at the support of triangle.
In the meanwhile the price line had also completed the formation of gartley and entered in potential reversal zone moreover the volume profile is also showing a very low interest of people to trade below that area.
The double...
The Loonie index is currently moving in a downtrend, as shown by the lower highs and lower lows on the daily timeframe. This is also in sync with the commodities markets (crude oil, well and even gold), which have been experiencing bear pressure lately. It is no secret that currencies like the Loonie (Canadian dollar), Aussie (Australian dollar) and the Kiwi (New...
I am looking for a buy in the PRZ shown based on the bullish Butterfly pattern as well as 50% retracement level.
From an Elliot Wave perspective, if the move up from the recent bottom was all a first wave then this is the minimum retracement I would expect for the second wave. In this case we are getting ready for Wave 3 which would likely be pretty...
I know it is not advisable to try and pick a bottom..I have learned this lesson many times. However when I noticed today price had dipped below the .618...Daily RSI was in oversold territory... and it made a pinbar on the 5 minute chart with decent volume...I decided to take a shot. But I am going to try a different approach to catching a bottom this time.
My...
