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Candlestick Analysis

USD/CHF looks heavy despite relentless USD strength The Swiss franc has held up remarkably well this week despite some of the G10 FX moves against the USD. Sitting in a rising wedge, it was rejected at uptrend resistance on Wednesday, deliver an inverse candle on the daily. The price now finds itself resting on uptrend support and looks heavy. RSI (14) has diverged from price but the bearish signal on momentum has yet to be confirmed by MACD, although the latter also looks toppy. One short setup would be to sell now or on a break of the uptrend with a stop above Wednesday’s high for protection against reversal. The initial target would be .8617 although, to make the risk-reward stack up, it would be preferable to target the 50-day moving average. Good luck! DS
Short
by FOREX.com
Bitcoin’s bullish break opens door for run to record highsBitcoin’s break of downtrend resistance has opened the door for a run towards the record highs set in March, especially with the price action today suggesting the break will stick. Even though RSI (14) is nearing overbought territory, both it and MACD continue to offer bullish signals on momentum. One look at historic price patterns also tells you overbought conditions are no impediment for further gains in the near-term. Rather than buy around these levels, I’m waiting for a potential pullback/retest of the former downtrend before establishing longs, allowing for a tight stop to be placed below for protection. $70000 would be the initial trade target with $71931.60 and record high the next after that. Good luck! DS
FOREXCOM:BTCUSDLong
by FOREX.com
Nasdaq Breakdown: Today’s Metrics and Analysis 18-OCT-2024Good morning, traders! As a seasoned price action trader, I'll share my Nasdaq insights to help you improve your trading skills. #Nasdaq #StockMarket #Trading #Investing #DayTrading #SwingTrading #TechnicalAnalysis #MarketAnalysis #FinancialNews #WallStreet #NasdaqToday #NasdaqAnalysis #NasdaqTrading #StockMarketNews #MarketTrends #InvestmentStrategies #FinancialMarkets #TradingTips #NasdaqForecast #MarketInsights #Nasdaq100 #TechStocks #GrowthStocks #IndexFunds #ETFs #StockMarketAnalysis #TradingStrategies #RiskManagement #InvestorEducation #FinancialLiteracy #EarningsSeason #FederalReserve #EconomicIndicators #MarketVolatility #GlobalMarkets
PEPPERSTONE:NAS100
by DrBtgar
Trade Recap: AUDUSD - LONG, 17/10/2024AU Bias Analysis: Price mitigated a 1W FVG and was deeply discounted on the 1D timeframe and although still trading in a counter-trend on the 4H, we saw a displacement higher which formed a 4H bullish order block and established a 1H bullish range. Price protracted lower into EPD and the 1H FVG where I waited for entry confirmation and executed. Grade: Valid What I did well or could've done better: - Executed before market close out of a little bit of FOMO as I was waiting for a meeting to begin. I should've Waited for the 15M candle to close before executing the position. - Regardless of not having a strong conviction in the trade, I executed a position which fit the plan but wasn't picture perfect. - Managed my positions well and closed manually once phase 1 target was achieved.
TVC:DXYLong
by The_Modern_Day_Trader
Traders could veer towards the yen with risk events loomingIt is no coincidence that VIX futures have been creeping higher in recent weeks despite Wall Street hitting record highs, as traders are presumably hedging downside risk as we approach the US election. And that means it may not take much to spook traders out of bullish bets with markets at frothy levels, and that could see the yen strengthen as a safety play. Matt Simpson takes a technical look at yen pairs of interest.
Short
by City Index
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