Hello all - DuncanForex here with another trade idea
I hope everyone is staying safe.
With a retrace over the past few weeks and price breaking the upward trendline
Price Is now in my opinion going to head lower to 15000
If it breaks support and then this holds as resistance - as shown - I will be in the trade ad 15,000 is the target.
Same as the FTSE100 -...
NZDUSD on the higher timeframes is in a clear downtrend
Price has recently rejected the HTF downtrend line with a double top (reversal pattern), visible on the 4h and below.
Price then broke below the neckline but has respected an up trend line and is now retesting the neckline of the double top, which usually happens...
BTC is currently resting atop the 100 moving average on the 1-day chart, this moving average is going to start pressing Bitcoin for an answer in the next few days. As you can see the ceiling, for now, is the white resistance line. I am optimistic that BTC will jump above the resistance line, why? We have not lost the 100 as support for a few days, this means that...
GBPCHF overall is downtrending as you can see on the higher time frames (4H and above). We have added a chart image of the weekly and daily charts below this description.
As you can see on the weekly chart, Price in march had spiked down aggressively to form a new all time low for GBPCHF. This can signify a possible aggressive rise in price in the near future....
We forecasted this scenario on GBPUSD last week and it is playing out exactly as planned.
GBPUSD on the higher time frames (4H and above) is downtrending and is currently trading within a range. We have added a daily chart image and a zoomed out image of the 4H below this description.
Price had recently broken out of the strong 1.26500 resistance level but...
EURGBP has broken above the strong .9000 whole number resistance level and is coming back to retest this level.
Price overall on the daily chart is trading within a large range. We have added a daily chart image at the bottom of this description.
Inside this larger range, price is respecting levels of support and resistance and therefore has been trading within...
EURJPY is about presenting a New Buy opportunity if we are able to have our desired price action formed to take it to the upside. A lot of patience is required in this market . Join me for more analysis . Comments are welcome. Get in touch if you're interested in learning .
EURCAD look to be aligning itself for the new week . Look to be patiently catch the opportunity this week. Comments are welcome . Join me to receive more analysis update. Get in touch if you would be interested in learning my way of trading .
GBPUSD overall is in a downtrend on the higher time frames (4H and above). We have added a Daily chart image with notes below this text.
Price is currently trading within a range (red lines) and has recently failed to successfully break out of the top of the range.
Price is in a small uptrend and close to touching the up trend line for a possible rejection and...
EURUSD has attempted to break the strong 1.1400 whole number resistance level multiple times but failed.
Price has now formed a head and shoulders pattern (reversal pattern) after breaking an uptrend line and rejecting the resistance.
A break below the neckline would confirm the head and shoulders pattern, and we would look for short opportunities on the retest of...
EURGBP is trading within a large range on the higher timeframes and is currently trading within smaller ranges on the lower timeframes.
This is EURGBP on the daily
Earlier this year price strongly rejected higher prices at the top of the higher time frame range, so we can expect price may fall to the bottom of the range in...
NZDCAD on the 1H has formed a bearish pinbar signal near the very strong 0.8800 resistance level.
Price on the lower time frames has formed a symmetrical triangle, and has strongly rejected the top of it with the pinbar.
On the daily chart we can see price overall is downtrending and is heading up likely to attempt to...
EURJPY broke out of a higher timeframe downtrend last week.
Price also broke out of two strong resistance areas with the EUR strength we have seen for the past few weeks.
We can see two possible scenarios;
1.Price falls to retest the strong support/resistance (red line) and continues with strong bullish momentum
2.Price breaks back into the downtrend creating a...
GBPUSD is in a range.
Price is currently in a strong uptrend, heading towards the top of the range.
Looking back on the charts, price has strongly rejected the resistance at the top of the range multiple times before, meaning this is a strong level.
We would like to see price reach the resistance and reject with strong bearish momentum in the form of either 4H or...
EURUSD has just impulsively broken above a strong level of resistance, marked with the red line.
We forecasted this possible trade idea last week.
Price is moving in a strong up trend on the 1H and 4H charts.
We are now looking for price to retest the resistance now turned support, and/or one of the up-trend lines marked on the chart.
We would like to see price...
We forecasted this NZDCAD head and shoulders last week.
Our position is now running at over 4.15% with over 2.5% locked in with our stop loss. Now risk free with guaranteed profit.
With experience analysing and trading in the live markets we were able to forecast the right shoulder far before it was confirmed, due to the nature that price was rejected the previous...
Setting an order for a short on this pair as it looks to be showing resistance at this major area. there is major support below and it is in an up-tend however, i believe we are going to see a pullback.
I will close partial profits at the support below and let the rest of the trade run on a break even stop.
If you have any questions or want to...