On Friday, short-term selling to 1.0840 worked and EURUSD is holding above these levels for now. It is recommended to move your stops and reduced the volume. Watch for another decline and a possible reversal from the levels below 1.0840. We need to see a pullback to enter, and a break of a previous high will confirm the move!
The previous CAD CPI data marked a significant turning point, with CAD having a 2 week hangover and the basket of major currencies getting a wild ride against the weakened CAD. Could we see the opposite this time around? USD is seeing significant strength against the basket but is starting to look ripe for a pullback. If we see another strong day for USD...
The USDJPY is in a Bullish phase by Ascending Triangle & Cup & Handle. 🌟 Bullish signals are: - Bullish Cup & Handle - Dynamic Support zone - Pivot S1 weekly - Ascending Triangle ❗ and the Upward signals of market momentum are: - The Bottom of the Bollinger band ⭐ Note if the Triangle or cup & handle is broken downwards with the strength of Bearish candles,...
Yesterday EURUSD broke and tested 1,0949. This gives a chance for short term sells targeting 1,0840. It’s important to watch if the movement has strength. Upon sharp drops , hold and move the stop. When the movement is exhausted, lower the risk and close the position. No grounds for long term sells at the moment.
Interest rates from the FED and ECB came through, and on Friday we also saw the jobs data. This week the most important news will be on Wednesday. EURUSD is heading back to a test of previous highs. On a break, the next resistances are 1.1150 and 1.1275. The uptrend breaks down on a drop below 1.0965!
AUDCAD currently trading at strong demand zone. Will it retrace from this zone to falling trendline for 2nd pivot? which is also a Fin golden ratio area.
Ford looks like it's continuing to try to break the floor, with lower highs and retesting the recent lows made. It's only a matter of time before it can't float any higher and drops right through the floor. I give good chances to ~$9.05. We'll see.
EURUSD continues its sideways movement and holds below 1.1000. To enter a trade we need a breakout and a test. This will confirm the rise and allow buys to be sought. On a dip below 1.0900 the bullish scenario breaks down!
Trade setups I'll be looking for next month depending on how we close.
Prices move because of supply and demand . When demand is greater than supply, prices rise. When supply is greater than demand, prices fall. Sometimes, prices will move sideways as both supply and demand are in equilibrium. When support and resistance lines are broken, there is a high possibility of a significant uptrend in that direction. Be aware of the...
In this article, I will discuss the head and shoulders reversal pattern observed in NVIDIA stock. Recently, the stock has experienced a significant uptrend, rising approximately 48% after the completion of a larger inverted head and shoulders pattern. However, recent price action on lower timeframes suggests a smaller head and shoulders pattern is forming,...
Traders, I said it all in the title. Yes, the dollar has now conclusively formed a very ominous Head and Shoulders pattern. The dollar will die once (not if) it breaks that neckline. But do I think that is going to happen immediately. I think you all know the answer. News has hinted at a Fed rate hike pause this week. Next week another news story will come out. I...
Yesterday we saw drop to 1.0830 and recover. Current levels are important resistance from which we may see a pullback. We will look for new EURUSD trades after tomorrow's news. Targeting support and retracement will provide entry opportunities. We do not consider trades at these levels and prefer to wait for confirmation!
Prices move because of supply and demand . When demand is greater than supply, prices rise. When supply is greater than demand, prices fall. Sometimes, prices will move sideways as both supply and demand are in equilibrium. When support and resistance lines are broken, there is a high possibility of a significant uptrend in that direction. Be aware of the...
Closed Trade at Price Level 1.452. Wait for another pullback to the Pivot Point + Trend Line in an uptrend.
Update of the previous parralel channels post . So far both our channels have played out well, apart from the retest and rejection from our green channel. If the red channel plays out like the others we should start to see a steeper decline from this point on. 🤞 This would also fit the narrative of the cypher harmonic Iv been watching for (see other posts on my...