This pair seems to be breaking out of a bullish continuation pattern. Keep risk small since later on today we will have the Non-farm Payroll report and also because of the US election. May the best man win!!!
Check out my latest report on the case for diversification and the US Eection here: wp.me
CAD/JPY is moving in a downtrend, making a series of lower highs and lower lows. Now it just broke out of a correction and is moving downwards. Targets are at the beginning of the bigger correction.
If prices break above the previous 34 156 resistance, this should be a good opportunity to buy into this market. The price is above the 100-day exponential moving average on the weekly chart and also seems to be bouncing off the 400-day EMA on the daily chart, as this seems to present a support zone. Our good old trendline shows the price making a series of higher...
ABSA Bank Limited (ABSP)The walls are bloody for ABSA, which clearly shows momentum to the downside on the monthly timeframe (check out my full analysis on my instagram account @heisenberg_trader), as prices are trickling down, with momentary pauses in the form of bear flag patterns. The long term trend is clearly downwards, as prices have been forming a series of...
A nice rising wedge pattern is forming on this chart. It would be wise to enter a short on the break of the counter trendline on the weekly chart. The market is largely in a bearish move that can be maintained if enough sellers creep in.
Enough has been said about this trade. Let's jump in now!!!
ENTRY: 108.905
STOP LOSS: 109.308
TAKE PROFIT: 107.880
(Check my previous analysis/post on my profile)
Prices dropped sharply before forming an ascending wedge, which topped out at the 76 price level. Now, price has already broken out of this corrective structure to the downside and is making a continuation move, with two opportunities to scale in already gone. But you can still jump in with proper risk management and target the bottom of the corrective structure,...
Price formed another corrective structure in the form of a bear flag pattern after sellers struggled to hold ground. Now it has just broken to the downside and we are expecting further down movement. Things are a bit slow this week especially after the bank holidays yesterday. Risk management should be on point always. The technicals of this trade are;
Stop Loss:...
This stock has just broken out of a descending channel (bullish flag pattern), and is rallying towards the weekly descending trendline. Therefore, we should see much upside towards the 58 000-60 000 are. The technicals of this trade are as follows:
STOP LOSS: 52 000
TARGET: 60 000
If price should move below the 1.9350, i will be entering a short position again. Well this trade was obviously epic, as i entered it on a Thursday, on the daily timeframe, and Friday i spent half the morning in a gruesome Financial Reporting exam. Let it be known that i normally enter my trades using the 4-hour and the hourly timeframes. This was almost a first,...
NZD/CHF currency pair is moving in a gradual downtrend, making lower highs and lower lows. We can expect price to make a corrective structure and creep higher towards the 0.6700 area, before reversing and continuing with the current trend. We will wait for price to blow of some steam and slow down before we consider any shorting opportunities. Prices can also move...
Prices on the CHF/SGD broke out of a interim downtrend on the daily chart, and we can anticipate further upwards movement. Price could find support on the 1.3650 if it forms a correctional structure in the form of a bear flag pattern, and then continue higher. Proper risk management is key especially when trading exotic currencies since there are huge margin...
Prices formed an impulse to the downside and then moved up after a serious stop hunt, or rather rejection caused by the buyers, who came in and pushed prices higher. This was evidenced by the correctional structure (rising wedge pattern). Price is currently moving downwards after it retested the support turned resistance of the rising wedge pattern. On the 4-hour...
EUR/NZD currency pair might just form a double top pattern, if the right conditions are met. Price is showing little signs of exhaustion,but it is too early to count any birds from the eggs. Key levels are as below:
Resistance: 1.70713
Support: 1.63540
If price drops, we might catch some major pips though.
Platinum prices are currently moving in an ascending channel on the 4-Hour timeframe, and they arfe currently almost completing a bear flag pattern. We can expect prices to move down and test the support zone at 874.30, and then push higher as they will be upper band of the ascending channel. Possible targets can be the length of the pole of the bear flag...
Price is currently moving in a steady downtrend, whilst also making higher lows, characteristic of a symmetrical triangle pattern. Prices broke out of a bear flag pattern and we can expect further continuation to the downside. Traders can possibly scale in after a corrective move. The target will be the trendline posing as a support.
Price is moving in a range on the daily timeframe, with the support level at 2 120 and a resistance level at 2 370. Though it is possible that price may move further up to close the massive gap on this stock, it is my belief that prices are going to continue further down due to a cluster of orders that are sitting at or above the resistance level. The daily...
