USDCHF sell on counter trend line break
I copied the following idea; and justify with my own strategy. PLS DO NOT FOLLOW IT BLINDLY! Price below the upper trend line of the channel. .382 retracement of down AB Swing StochRSI Over sold BEARISH TWEEZERS TOP
watch the 618 retrace level, when it bounces back to there, price drags down.
This it's a nice trade in a bearish channel ,inside a bearish gartley pattern with a candle confirmation and also in D chart its touching a resistance.
Please see annotated chart for details.
So on Friday 13th May, we have seen the classic head and shoulder topping pattern confirm here on a lot of major indices. You could apply this thinking also to S&P500 and its derivatives Spy etc. So the head and shoulder neckline break, all in shorts right? Wrong. Note the orderly bearish action, respecting fibs very tightly on the way down. Also note the...
There is a bearish channel currently, so 2 things can occur. Most likely, the pair is going to drop, because of the price rejection on the upper channel line. The second outcome is for the pair to break the line and go up. It shows that the short option is the better option to go with. A safe play would be to short, target 50 pips, and then close. If the pair...
The descending channel pattern on the daily chart of USD/CAD can be a good idea to trade a bullish breakout. The channel's borders are marked with the yellow lines. The potential entry level is shown with the cyan line. The potential take-profit level is marked with the green line. I will set my stop-loss to the low of the breakout bar (not shown on the chart)....
The price of EURGBP, on a weekly basis has broke the trend line. This increases the probability for a new impulse to start.
Two downward channels to keep an eye on for GBPNZD on the 4 hourly timeframe. Price currently looks like it is preparing to take out the recent low as we continue to move away from the 78.6 % Fibonacci level. Price is also looking to move away from the support turned resistance zone (pink area), which should also support a move to the downside, as bears look to...
USDCHF H1 & H4 show down trend and targets are 0.9450, 0.93427, 0.9137. Now we have Wave #3 Elliott Wave. TP1: 0.9450 TP2: 0.93427 TP3: 0.9137
EURNZD is currently stalling at the 38.2% Fibonacci level and there has also been a small bounce lower after entering Monthly resistance and touching the upper trendline of the downward channel. Will EURNZD breakout above the channel and move above the 38.2% or will it head lower? It is the ECB tomorrow, which could give us a direction.
Daily support and resistance zones to keep an eye on for the dollar index, which is currently in a downward channel and looking to break below the 78.6 % Fibonacci level. Daily support and the lower trendline of the channel lie beneath.
Crude WTI in downtrend channel play, might correct to blue line possible targets t1 36.0 t2 34.0
Looking at the 4 Hour chart USDCAD is in a clear downtrend and is currently breaking out of the downward channel to the downside for the 3/4 time. But these moves to the downside have so far been halted for a number of reasons. Namely because any attempt to move away from the 61.8 Fibonacci level (purple @ 1.29705) is entering, strong weekly support and now daily...