Here is a possible textbook example of a triangle breakout trade. To be safe, always wait for a retest of the former support and then start adding positions. Remember to always put patience first and profits will surely follow. I have marked in the chart an invalidation area of this setup.
Kudos!
Here is a possible double top occurrence. This immediate resistance was tested Last Feb 21. When price reached this place it started a total sell-off bound to the major support. A further confirmation would somehow boost my confidence in entering this trade if the 4hr candle would close as a Doji.
Should this resistance stir a breakout. Its nearest resistance...
1W TF:
EU's price action is currently sitting on an area of confluence - slope resistance and multi year support. A break of this level would somehow make
bears retest the 1.2200 zone.
4H TF:
Having a long bias in mind, I'm still long on EU with DXY still on a strong downtrend. Looking at the area of interest marked in the chart, I'm hoping to add some long...
Last week's price action bounced off again from a technical area of confluence (61.8% Fib level and a Slope support) But one thing we should be wary about is the reaction of price action on the 200ema. The last time price action touched it, it started a total sell-off. Just an advice, manage your trades properly. I will update this idea if it has been invalidated.
Daily Chart: Price action eagerly respected the Daily trend line support and bounced off immediately. This area too is in confluence with a historical support/resistance level. Price action also arrived at the buy zone I set last week.
Hourly Chart: If the hourly candle would perforate and break the nearest trend line resistance. The possibility for AUD to...
Price just Bounce off from the 61.8% Fib level and it closed around the monthly pivot point. On the weekly chart, This pair is in range, but I'm expecting for it to retest the range border and break it.
As mentioned, price on the 1D stalled on a slope support. The last 2 candles of the trading week formed into a Doji. Look for a nice setup on the lower TF. I...
