From October 19th, we have seen a 26-trading-day downtrend. The second attempt to break the trend was at the 38.2% fibonacci retracement level, which failed.
We are now trying to test the same downtrend line (Red arrow), while also testing the 61.8% fibonacci retracement level.
The 50sma which is converging with the 50% Fib; which seems to...
Taking a look at the intraday price action on AUDJPY we have seen a potential Sell trading opportunity present itself.
As you can see from the 1 Hour chart, we have a liquidity gap drive lower on the 21st September 2020 around the 76.32 level marked with an orange arrow.
This level could have additional order flow resting here as the sellers who originally drove...
Taking a look at the Australian 200 Index, we have seen a good potential short term trading opportunity for a Sell.
As you can see from the 15 Minute chart we were watching to see what price did if it reached the 6000.0 level as this could potentially show a rejection here because its a psychological level in general.
This alone is not going to present a high...
as we can see :
- huge convergence
- RSI is on edge of over sold zone
- there is a major support zone above 320$
- our own indicator is being bullish
We can clearly see the Convergence we have, but I have to mention that the market is bearish now !
So it will be risky to take long position also, but we will try it until...
as we can see :
- Stochastic RSI is cold down there..
- also RSI is on edge of over sold area..
- then we got matched touch on BB ( Bollinger Bands and Stochastic RSI ) and convergence after it !
So it seems to be bullish but the major thing is about the connection between USD dollar, GOLD and S&P index with Crypto currencies !!...
We are updating the bullish trade idea we posted on GBPJPY on the 9th September 2020, price came right to this level and started to bounce higher.
As we mentioned in the original post, if price dropped to this level we wanted to go down to our lower time frames and look for additional confirmation for a bullish trading opportunity which occurred nicely.
the price is oscillating in the shown range for a while that gives us with the confirmation of the pin bar a possible good short trade
please do your own research before entering the trade it's just an educational idea
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Taking a look at the Daily chart on GBPJPY we have seen a potential level that could generate a bullish trading opportunity.
As you can see from chart, we have what looks like a possible stronger level of horizontal support around the 135.74 mark. This level has seen multiple registered hits on the line both using this level as previous support and resistance in...
EURUSD overnight set the stage for a high probability sell on the higher time frames.
Although EURUSD has been in a uptrend of late we had a few factors that led us to believe we could see EURUSD move lower.
These factors include the following.
1. We were looking at the 1.2000 big figure level for a while as this level in general could be a strong psychological...