A bearish flag would show a downside move. Last time to touch the upper trendline, and in the best case scenario, it would break out of the flag. Might show some difficulty crossing the .382 level of the daily structure, and this flag could also result in being the last downside movement of the daily structure. I'd enter around 120.43 *The SL and TP might not be...
If the level is reached, the trade should have good support from Pivot levels as well as daily Opening Range. All MAs should be pointing up at this time if the level is breached and stays above entry level.
Hello traders, Check out an opportunity on the hourly USDCAD with a potential bullish gartley completion at around 1.3310. T1 at 1.3334 with a potential extended target either at retest of previous high or some fib retracement. If this helps, this it a like ! Enjoy !
Price is at overbought levels, and is at a resistance trendline. Most importantly, indicator says to sell, as it shows bearish momentum gaining.
with a higher high running out of steam and three lower highs and lower lows, i decided this is a good opportunity to short and look towards heading to strong liquidity levels to take profit, GBP over Eu has performed stronger this week.
Price oversold during uptrend Of course, indicator says to buy. I don't set a stop loss or profit, but this is for proof. I manually close trade.
When you see that kind of pattern where a big candle hits a support zone and multiple candles test it without success, it's wise go against it. MACD has started turning. There's a good possibility that the market will go beyong the 49,50~ price, you'd have to determine how strong the market is at that point.
With uncertainty about where the dollar index is likely to go i believe investors are looking to buy Gold as a safe haven until, on the hourly chart i can see a sell off from the recent spike is likely to hit the 0.382 fib at 1221 until we see more buyers come back in.
Dollar index on the daily chart is showing that it is oversold on the RSI so i am expecting to see a pullback from the recent sell off, we may be looking to reach the hourly swing low fib of 0.382 target 101.13
price has broken supply @120.35 and looking like it will continue its way down. Take profit at 119.35
Expecting a reversal after kissing the inclined support line, Volumes clearly shows a downtrend (4h). Weekly BUY
Price has failed to break 1.74800 for wave 3, 5, and B. Heavy consolidation during Wave 5 which was the last chance for buyers to reach higher highs, however price halted and broke the bullish Trend-Line. For B we had confluence with a retest of the broken trend-line and a retest of the supply zone. Looking to see how price reacts to the lower zone, if we get a...
Trend trade on the hourly time frame. Risk reward is about 2.5 Plan your trade, trade your plan! Good luck and happy trading!!
So we have a broken support TL that had 4 points, so it is reliable. Not that it is broken, I will be looking to short for about 35 pips.
So this pair is probably falling back to 1.061x levels within few hours. The setup is explaining the whole plan. Wait for the price to break and close below 1.06844. *Plain and simple, other than this, the plan shall be cancelled.
Despite USD weakens red support line worked. But volume is low now 3 hours later volume will be higher so probably it will chose one of the paths I draw