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AUDCAD - Potential Long OpportunityAUDCAD - Potential Long Opportunity After last week's AUD strength we have broken through a significant level that price has been interacting with in the past. This bullish move that occurred will more than likely see a pullback, potentially when price creates the swing high you can also look to draw fibonacci from the impulse, to the peak of the move, as further confluence. You can see the ascending trend line is adding further confluence as it lines up with key market structure. Once price returns to the level the 50EMA should be closer to current market price, potentially acting as a dynamic level of support. If price returns to the zone (key level + trendline), look for rejection in the form of a bullish candlestick pattern, reversal pattern, or if we see many rejection wicks at this zone. If we don't see rejection, or buyers coming into the market, there is no trade. Important to react to price action and not predict.
Long
by Som246
URA atl reversal play Trading on the D/W On the weekly: -major support has been $10-12 since early 2016 -in july 2019 price broke down from this range(covid market crash), and solidified 11.50 as major res -has since broken above 11.50(also the 100w), the retest held, and carried higher On the daily: - jul 15 2019, price breaks above r11.50, and all MAs (50,100,200,400) -MAs are converging on one another for strong support Entry: 11.99 Market open 08/26/2020 Stop loss: 10.88---below all major res/ma on week/day TP1: 14.20---sell 50%---URA tends to have short fakeouts above weekly MAs, 14.20 would be slightly above 200w ---move SL to BE or below relevent key levels TP2:15.40--- sell the rest unless stock still has good techs--- 16 is a key res TP3: moon, will move SL to appropriate levels as stock moves higher
AMEX:URALong
by Martinillo
OIL KEY LEVELS|STRUCTURE ANALYSIS OIL has recovered from the dramatic events of the previous months with -40 dollar per oil contract. Now, following the dollar demise, oil, that has a negative correlation with the dollar index has been on the rise. The last month or so have been spent in a range below the strong resistance level in the red, that seems to mirror the current support level in the DXY. If the dollar breaks or holds will pretty much define the fate of oil, and the direction of its trading for the time to come. Also, the rate of the global economy recovery will have its effects on the oil price too. Anyway, whichever way the oil goes, the chart above will help you in your trading, as you now see the key levels both up and down. Trading the breakout up is easier, as the resistance is clearly defined, while there is no precise support level for oil from below, which implies that we will have to look at the price action to get a decent short opportunity. Thank you for reading, I hope this guide was helpful. Like and subscribe and have a nice day!
TVC:USOILLong
by ProSignalsFx
1
BTC/USD: Short-term ForecastWhat's up traders! If you take a look at my set up you see I have a daily resistance line plotted. There's two things that can happen here, and i'm leaning towards the second option. #1 price could break through the parabolic sar and keep rising. #2 price could go an touch my 30 min support and fall to the price of 11525.00 which is where I have a key area plotted for weekly resistance. The daily candlestick is about to close within the next 2 hours which means A LOT of pips will be moved. What are your thoughts?? Leave them below!
BITSTAMP:BTCUSD
by lobfxempire