Just broke the resistance and now trading above horizontal resistance
Buy : 2280 - 2350 ( i don't think this one will be back but i am not aggressive right now comes to entry than buy else no )
stop : 2050
target : 5 to 40% ( alts season )
Recap from last week...
- If you look at Daily, candlesticks have exhaustion area signaling the Market is not ready to reverse down quite yet
- Its likely to Consolidate before breaking to continue to upside or break downward
- One thing about GBPAUD and GBPNZD, when in consolidation, it likes to fake a break-out so be watchful
- Its not advised to trade in...
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...
Thank you for your continued support :)
Strategy: Consolidation Breakout .
Bias: Bullish. Prominent volume kicked in today and breakout from the triangle consolidation zone at the price of RM0.445. IFCAMSC share price successfully crossing up 5 & 10 EMAs with the surge of price with significant volume. The next resistance could be faced is RM0.480/0.485 zone,...
As you can see, the price ranges frm 3010 support level(tested twice) and was rejected 3 times near 3140-3150 level, confirming current resistance right at that level...
If price breakout frm 3150, THEN it will further challenge 3190-3200 level...uptrend continues...
If price breaks lower than 3010 critical support level, THEN it shall go back to 2930 previous...
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.
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....
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...