ETHUSD is approaching our first resistance at 148.01 (horizontal swing high resistance, 50% Fibonacci retracement, 100% Fibonacci extension) where a strong drop might occur to our major support at 139.46 (horizontal pullback support, 38.2% Fibonacci retracement).
Stochastic (34,5,3) is also approaching resistance where we might see a corresponding drop in price....
EURUSD is approaching our first resistance at 1.1362 (horizontal pullback resistance, 76.4% Fibonacci retracement100% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 1.1318 (horizontal swing low support, 23.6% Fibonacci retracement).
Stochastic (34,5,3) is also approaching our first resistance where...
USDCAD is approaching our first support at 1.3241 (horizontal pullback support, 61.8% Fibonacci retracement, 100%, 61.8% Fibonacci extension) where a strong bounce might occur above this level to our major resistance at 1.3381 (horizontal pullback resistance, 61.8% Fibonacci retracement).
Stochastic (34,5,3) is approaching support as well.
Trading CFDs on margin...
Hey!
During the downtrend - nice and clean lower highs & lower lows - we should get a nice sell setup. I put this idea post a bit earlier and hopefully, You have some time to prepare for it.
Sell criteria which all should act as resistances:
1. Previous resistance, March high
2. The round number 1.14000
3. The trendline from 2018 Sept.
4. Different Fibonacci...
AUDCAD is approaching our first resistance at 0.9487 (horizontal swing high resistance, 61.8% Fibonacci retracement, 100%, 61.8% Fibonacci extension) where a strong drop might occur below this level to our major support at 0.9423 (horizontal swing low support, 61.8% Fibonacci retracement).
Stochastic (21,5,3) is also approaching resistance where we might see a...
In this video update we discuss the situation with GBPUSD and how traders get sucked into the extra volatility.
Be mindful that Brexit headlines are unpredictable with the deadline fastly approaching. Technical analysis
is less likely to work on a pair that is driven politically.
For anyone who does not know what a double top is- a bearish technical reversal pattern (without elaborating too much...) The nearest target for the usdchf would probably go to 0.9970 and if it falls below this price then the usdchf could fall further towards 0.9920
Sell USDCHF:
Entry Price: 1.0002
Stop Loss: 1.0040
Possibly a good time to open sell!
Sell Price: 1.13500 - 1.13550
Stop Loss: 1.14100
Target 1: 1.2500
Target 2: 1.1900
Target 3: 1.1400
- The price in downward channel
- Bull trap
In this video update, we take a look at USDCHF as it approaches the key demand zone. If price finds support here
we could look for short-term trading opportunities back towards the double top neckline on the 4hr chart.
If the FOMC come across dovish we could see the demand zone broken through, and closed below causing further
downside for the currency pair.
Possibly a good time to open sell!
Sell Price: 1.13500 - 1.13550
Stop Loss: 1.14100
Target 1: 1.2500
Target 2: 1.1900
Target 3: 1.1450
- The price in downward channel
- Bull trap
Price in a range
Create fib levels at Swing Low and Swing high
23.6% fib has created a resistance level - several failed breakout attempts
Price has created mini lower lows and lower high
Decision point at sup level and trendline for price direction
Short trade setup
1st Sell Stop @ 1.3225
2nd Sell Stop @ 1.3195
Sell Take Profit @ 78.6 fib level around...
In this video update, we take a look at USDCAD is the market consolidates at the key support zone.
If the FOMC seem dovish towards the rate of which they move interest rates we could see a break of
the 1.3300 demand zone and continuation lower. However, if price forms a higher high we could
anticipate that prices will move towards the key 1.3440 level.
In this video update, we take a look at silver as we expect the daily double top pattern neckline to
act as resistance before price moves lower. The neckline has not been testes yet and sometimes the market
will gravitate to previous lows before continuing its move lower and this is what we expect to happen
here with Silver. If price forms bearish price action...
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