It can without a doubt be inferred that the sentiment of the USD/CAD market is bullish and some correctional moves are needed before the price keeps pushing further to the upside. We will be monitoring the price action and waiting for a nice reversal pattern to be formed before aiming for a short-term SELL position. Our initial target will be set at the zone of...
As it can be inferred from the graphical illustration, the price printed nice bullish candles last week and kept pushing to the upside. As per usual, after an impulsive move, a correctional move is always needed. We can see that the price is forming some sort of a reversal bottom to complete the correctional move. We are awaiting more confirmations before looking...
As it can be inferred from the graphical illustration, after having tapped below the zone of the lower boundary of the ascending channel to gain some liquidity, the price has printed nice bullish candles and is now back within the borders of the range once again. We are expecting for the price to keep growing from now on and reach the upper barrier of the formed...
As it can be identified from the graphical illustration, the price printed a massive bullish candle last week and broke out of the descending trendline. Moreover, it can be noticed that the price is currently forming a bottom on the local zone of demand. We can expect for the price to bounce off the local area and keep growing till the area of resistance...
Due to the fact that it is Easter and all major banks are closed today, the market has low liquidity and it is moving slow. Our bias and idea remain the same. We are expecting for the price to bounce off the current zone of support and grow till the zone of resistance that lines up with 50% Fibonacci retracement level. Once the market starts picking up some pace,...
As it can be inferred from the chart, the price has nicely rejected the area of the upper boundary of the ascending channel that nicely lines up with a local zone of resistance. From here, we can expect for the price to keep dropping till the area of lower boundary of the channel that lines up with a zone of support that aligns with 0.618 Fibonacci retracement...
As it can be inferred from the graphical illustration, the price has been able to break below the massive zone of support plotted on the chart and finish below it. We are now expecting for the price to re-test this zone of previous support now turned resistance that lines up with 50% Fibonacci retracement level before opening possible short positions and aiming...
As it can be inferred from the chart, a powerful bullish candle has been printed and the price has broken out of the descending channel illustrated on the graph. We are expecting for a correctional move to happen before further pump takes place. We are eyeing the 0.74 area of support that lines up with 0.618 Fibonacci retracement level as the end of the short-term...
As it can be inferred from the graph, the price is currently forming a top at the 0.943 area of resistance. Moreover, it can be observed that the price is rejecting the upper boundary of the ascending channel. We are expecting for a drop to happen and setting our initial target at the area of support illustrated on the chart.
As it can be clearly identified from the graphical illustration, the previous H4 candle left a huge wick to the downside, meaning that the price was unable to break below the local zone of support. Checking the higher timeframe charts and drawing a Fibonacci from the high of the impulse to the finish, it can be observed that 0.5 Fibonacci retracement level nicely...
As it can be noticed form the graph, after printing a massive bullish candle and breaking out of the descending trendline yesterday, the price has come back to re-test the broken structure. Moreover, to add more confluences, some sort of a H&S has been formed. Now, we are expecting for the price to continue growing and we are marking the 1.33 zone of resistance...
As it can be inferred from the graphical illustration, the price has nicely rejected the 1.264 area of resistance that lines up with 50% Fibonacci retracement level. We are expecting for bearish moves to continue and we are aiming towards opening SELL positions and marking the 1.246 zone of support as our initial target.
With all the due love to Tesla and their mission, we all know that their stock price is pretty inflated (Elon himself makes sure to periodically remind us about it). Occasionally, tesla shorters get wiped out by interesting news or rumors; however, here the trend is obvious. We're making lower lows with a first stop being 900$ and potentially even visiting 760$...
Some of you've wondered what is a good spot to add couple more Facebook stocks to your portfolio. Well, here is your short overview. There is a strong trendline that has been holding for past couple years. Sometimes the price didn't even make it to that level, but with 100% consistency the trend has always bounced up from it. Currently, the plan is to wait for the...
Just like predicted last week when the price of BTC was forming a top at the upper boundary of the formed ascending channel, the price dropped all the way down till $40k area of support of the illustrated channel. Now, some patience is needed, as before jumping or dropping, beginning to impulse, the price always consolidates for a bit and forms a top/bottom...
The sentiment of the market is still bullish. As it can be noticed from the graphical illustration, the price has nicely broken out of the formed descending channel and has come back down to re-test the broken upper boundary of it. Moreover, it can also be observed that the price has rejected the 50% Fibonacci retracement level and is now building up to continue...
JPY has been really weak for the past few weeks, creating nice opportunities for traders to benefit from shorting this currency. If we take a look at the current situation that we have on Pound-Yen, we can notice that the price is building a top to complete a short-term correctional move of the impulsive leg that took place yesterday. We are patiently waiting...
Firstly, taking a look at the WEEKLY timeframe chart on the left-hand side of the screen, it can be clearly noticed that the price has nicely rejected the important zone of support illustrated on the graph that lines up with the golden zone of Fibonacci. Zooming into the 8-hourly timeframe graphic, it can be inferred that the price has broken the upper boundary of...