Bias: Short term consolidation (pennant), with moving averages (MA) in bullish formation.
// This region is the breakout point of the previous resistance, as well as whole number psychology effect.
1st target: 2.27
// Previous high as minor resistance.
2nd target: 2.46
// Projected target from fibonacci extension as well as major resistance...
From the weekly chart GBPJPY is still in a small consolidation range on the 61.8 level of the weekly chart. Price will need to break below the current range and then the best entry would be on the retest. There was a noticeable rejection candle on the higher time frame.
This is one to watch with a big potential to the downside.
PIVX/BTC consolidating below the daily 99MA, the volume also settled so this double bottom looks like its ready to break upwards.
Target 1: 0.00003194
Target 2: 0.00003497
Target 3: 0.00004002
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AB=CD pattern is being painted by Price.
Weekly trend is bearish
Daily shows a strong bullish movemen which has retested the consolidation zone.
The price has not made it to the larger 61.8 level, finding a position in between.
From the one hour time frame there is a clean AB=CD retesting the previous structure. The trendline has been broken. There is also a...
The price is in the ascending channel and it is the third touch within the trendline so we are expecting it to consolidate and head upwards.
Also, there is a support zone that matches the trendline so there is a confirmation of the possible bullish movement.
Comment your thoughts, remember it is a short term trade
We are currently in a big range according to the weekly.
But thanks to the big boost from news week, we could possibly bust out this week -- as long as we stay bullish.
Since we had a big impulse move Friday, we should have some pullback before continuing up.
With price beginning at consolidation, we should prepare for a big impulse move again this week too....
One of the main trading ideas of my radar for the week ahead comes on the EURJPY. Following an impulsive bullish move to start October, we've seen the market create a sideways consolidation pattern. This is a combination that forms what's called a "High & Tight" flag formation and it's one of the most powerful breakout patterns in the market. For me personally the...
The gold is in strong consolidation zone for the past 2 months. Now if it is a breakout from triangle, it is possible to start a strong upward movement and continue the trend. It is also possible to see that strong resistance is broken.
Gold is just chilling in a consolidating range right now awaiting the next big breakout.
We've been enjoying a nice, but jittery downtrend since September.
But with a wedge showing it's nearly filled on both a smaller and larger scale, we can enjoy a nice move on either end.
Ler's wait and see.
For now, here are the TPs I marked up for this trade:
I gave this consolidation after the first leg down a bit of time to show if the strength of the bear was alive and well. It's been about 20 days since the breakdown happened and I'm convinced we've reached a cycle low of 7.7k which was tested 3 times already. A rally above 8.8k and close would be solidification of the fact. Price action here on the 1H and the...
LULU has been rising in a trend channel since April. The price recently pulled back to channel support and then consolidated there. On Oct 10 the price broke above the consolidation signaling a long entry.
The chart shows two trade scenarios. One is entering when the price breaks above the consolidation. This trade has a 6:1 reward to risk based on the estimated...
AUDCAD tried to give one more run to the downside last week but ended up stalling out and landing into consolidation. This area has a strong history of consolidation leading to reversals for the long. Let's see if that's what we are building up to this week. If not, we'll continue down to my next daily SR level and if we break through that, I'll post new...
My opinion after analysis i expecting here from Monday bigger jump i price. The pair is be in consolidation, for now we can see low periodic moves higher, i expecting break and higher push up in price. price is saturadet, AUD one of strongest, USD is start losing power on Friday. Tuesday RBA have Interest Rate Decision which in my op will have positive impact on...
I'm beginning to backtest US30 since its the hot currency pair to trade in my circle.
So I'll be posting trades I am currently practicing with all TPs to get adjusted to it. As you notice, I can only trade this thing on the 4hr. moves to fast for me on lower timeframes.
Consolidation happened at the monthly high. This is the 2nd time price has visited the...