Hi as we had observed the Convergence in our bullish trend and it reversed the bullish trend to bearish now We can see a Hidden Bearish Divergence with MACD and RSI, which is a sign and confirmation of Bearish Trend Continual and we can target our short for -61.8 of our Fibonacci projection which is having confluences with our 61.8 bullish Fibonacci...
signs of bearish exhaustion around the 1.5490 price region, which price could consolidate around the supporting trendline and fib level and create new momentum towards the highs. Reminder, that on larger time frames price is still exceedingly bullish for euro versus the Canadian. risk/reward ratio is 1:2
Hi Traders! The market is in an overall Uptrend. We're going to start the MTFA with the Weekly Chart. Then we'll continue with the daily, H4 and H1 Timeframes. Here is the weekly TF: As you can see the market was in a descending Parallel Channel for a very long time. Then, it broke out and started to move upwards. After a while, it started to consolidate in...
AAL broke out nicely from the previous resistance (now support) level on a long bullish run. Price has retraced and formed a descending triangle. Lots of confluence to support a long here. With a TP a the previous high, just pre-gap. My entry at this stage would give me a 72% gain at a Risk to Reward of 7 to 1. A trade with this R:R ratio means that you could...
Looking for longs on 0.5 fib retracement retesting previous confluences: broken descending TL, respectable ascending TL, and previous area of S&R. Long term target: 2060
Price is still relatively bullish on the long term aspect, we have seen some liquidity around the top of the psych price region, and we are currently seeing signs of momentum to the upside to potentially tap or break above that region. A preferred area of buying has grossed our attention around this confluent region where price could respect the trendline and fib...
The pair is inside two different channels, thew bigger one is a bearish channel and eurocad is touchng the resistyance line for the second time (we can even notice a confluence witha horizontal resistance which is represented by the red line, price has been rejected multiple times in that zone that goes between 1.571 and 1.579), then the second small bullish...
8hr Time Frame: Reading price we can see that EURGBP was created a new swing low and has failed to make any new highs beforehand. after the double top formation at .92000 key psychological resistance and immediately reacted and broke through .90000 key psychological support. If price holds below .90000 look for shorts down to .88750 key support. However, if price...
Price target of $220-230 because the confluence of : - Fibonacci retracement (0.618 - $219.06) from ATH to September '15 low - Fibonacci retracement (0.5 - $223.52) from ATH to December '18 low - Fibonacci retracement (0.382 - $225.76) from ATH to March '20 low - Low side of the parallel channel formed since the IPO - Low side of the broadening wedge formed in...
GBP_JPY fell from the strong resistance Just as I predicted in my previous analysis Now, the pair has reached a support confluence And I expect it to try to close the gap And perhaps retest the resistance Thus, long from support Like and subscribe to never miss a new idea!
The continuous flow of momentum to the downside is heavily pressured by sellers, the price has recently however tapped confluence regions of 1.2750s supported by our 78.6% fib retracement and the respected downside trendline. risk/reward ratio 1:2
EUR_CAD had a massive breakout From the bearish triangle pattern on the daily And is now surging on the triggered stop loss orders I think, we will see a pullback to support But the new trend is Up So I expect the pair to go Up from support confluence To retest a strong horizontal resistance ahead Buy from support! Like, comment and subscribe to boost your...
Hello my friends, Another trade i took today is EURAUD pairs. As you can see, i've marked the elliott wave movement and in my opinion we're now done with all five waves. Wave-5 usually end at the 127% fibonacci retracement of Wave-4. We can expect an ABC correction to the upside from this point. Notice that price actually broken above the descending trendline...
price has been consistently bearish pointing towards a very negative sentiment on the dollar vs the Canadian pair, hence why we can anticipate certain pullbacks/retracement around ideal regions for better scaled in entries in favour of the trendline. 1:1.5 risk/reward ratio
AJ looking very bullish as we approach the Multi-year descending channel. We have fractal Inverse Head and Shoulders on multiple time frames, I will post those below in the comments. I'm expecting a break and then a retest of the channel and the neckline, then it's off to the races. If we break the neckline this idea is invalid and we will look too short....
Price has tapped a major key resistance of 125.00 which we have previously seen, this region is also confluent to our 78.6% fib region on larger time frames. risk/reward ratio 1:1.8
price is respecting this fib region, continuous candlestick rejections. tight risk/reward