This descending channel meant you could have been buying at every bottom trend line touch with take profits once it hits the top.
Risky moves were selling from the top to the bottom
VERY close to major support structure area. BIG BUY coming up
DON'T miss this - an UNCOMFORTABLE lot size on this move will go a LONG way in proving that patterns are KING!
SPY is in a tricky situation here. Currently it is stuck in a short term ascending channel. The breakdown point could be any day now as the daily Stoch and RSI are reaching overbought levels. One it breaks down, the next point to watch is the long term support level from back in 2017 at $254. From there it can either break below that, or rise back up to the four...
AUDUSD after a tremendous bout of bullish strength, price is due for a correction. Currently the price action is moving correctively to the upside, showing signs it's ready to head lower anytime soon. The move down will be a very welcomed one as I am very bullish long-term on this pair (see prior analysis). A correction lower will provide an opportunity to add...
Our pair has been trading for a long time in the corridor. For two weeks it had found levels of support and resistance on the levels of 1.2755 and 1.2890
However, yesterday the dollar went on the offensive and overcame the upper boundary of the channel.
At the moment, we assume that the pair will continue the upward movement to the next resistance level drawn on...
EURCAD broke out of the uptrend channel & formed a double bottom with a stop hunt on the 1hr time frame. this could mean a pullback to re-test the channel or resistance area 1.52479 at which TP 1 profit will be booked in. if it breaks back into the channel, we looking at 12: 1 trade where TP 2 at 1.5695 and TP3 at 1.6098 could be reached.
Double top confirmed.
The dollar is strengthening.
I'm gonna try to sell on pullback.
I think the double top projection is too agressive. That's because i put it on 38/50% zone.
The stop is above the support zone and channel uptrend.
The divergence on hourly timeframe can cause a pullback to enter short.
Our pair has gone beyond the descending channel and is currently demonstrating growth. Against the backdrop of investors' expectations that the interest rate will be raised at the next Fed meeting, investors are returning their interest in the dollar.
Given that our price has received a new upward support line we can expect further growth in the pair. In case...
I want to share my vision of USDJPY.
I was looking at this pair for the last days and waiting for a nice trade opportunity, finally i found a great pattern that could make a lot of pips.
As you can see, we have a inverted Shoulder Head Shoulder pattern with a breakout of the channel, when a breakout happens, mostly i wait for a retest of previous...
Looking for break out of upchannel and a pivot off previous high at ~116.28 (red arrow). Price has been respecting its MA's after bouncing off the 200. MACD pinched after retest at the 20 MA. Breakout option shown in green; next price target out of the upchannel at...
My first video on ETH and to me it looks like ETH is getting close to making a decision on the direction she's looking to go.
Price action is just below and overall downward tend line from all time highs, so I believe we'll need to see a significant break and close above this area to see price action to start a trek above 1K again. I do believe we might see a...
Finally broke out of the channel its been in for about 3 months. Hope to see more new highs in the coming week.
The market in general closed all time high today. This stock might be getting push from that - in that case it will just return to the channel in the coming weeks.
The stock did not see significantly higher volume when it broke out to new high - volume...
TRMB is just breaking down through support from a beautiful upward channel formation. Money flow is very negative, and it has massive insider selling.
We think it has very good downside potential. This would be a good stock short however, we would also consider $40 May-18 Puts.
* Trade Criteria *
Date First Found- December 13, 2017
Pattern/Why- Upward channel...