NC at major resistance level. R:R is not bad to risk a sell at this point ;) -- Best of luck! Felipe
History is repeating itself here quite strongly too. The lovely rejection off of the 200EMA cannot be ignored.
This is merely an analysis. Go through the lower time frame to find a confirmation to go short at that resistance level. That resistance level has been tested a couple of times. It has formed a triangle pattern and support the trendline drawn on the chart.
This is not my usual Ichimouko Kinko hyo trades but simply a play off the consolidation on the 60 min TF. The Monthly and Daily are sill down and this pair has been unable to retrace. Entry = 1.6760 (Yellow line) Stop 1.6805 (10 pips + 3 for spread, above the prior high) Risk = 50 pips PT = 1.6710 support RRR = 1-1 but a high probability set-up (82%)
USD/CHF- SELL, Talking points, Technicals: One and a half year high this past wensday. you can see the reversal patterns. Weekly divergence on weekly chart gives me the final check for a Short. Also closed the week under Recistance area Fundamentals: Thanksgiving US Holiday (Thursday & Friday), Liquidity. Sentimental: Retail FX traders are...
This level (approx 35.40$) has shown itself to be effective on multiple occasions. Earlier this year price formed a double top which confirmed being bearish followed by two failed attempts to break above resistance again. Price is now showing weakness and indecision again close to this resistance... I would now enter short if price falters or, if a break should...
Market tried to break through a resistance twice, but was pushed back under it. I predict a bearish downtrend to the support level of 63.00. There is a small support 64.5, but I don't think it wil suffice a considerate pull back, but something to be aware of. Furthermore, trend line crosses price at 66.00, which becomes a second resistance confirmation. SMA...
If rally fail to break the descending TL here look for rejection around 24920 - 24980. Could go off really hard if no breakout. Just an idea. Let's see... This is not investment advice. Trade at your own risk- GL!
USDCAD Timeframe: H4 Direction: Short Confluences for Trade: - Price at Resistance of MT Trendline (Since June 2018) - Price at Resistance of Asymmetric Triangle - Price at 78.6% Fibo Retracement levels - Stochastic Overbought momentum Suggested Trade: Entry @ Area of Interest 1.3055 - 1.3148 SL: 1.3233 TP: 1.2858 RR: Approx. 1.80 (Depending on Entry...
- RSI bearish divergence on the H4. - Rejected major resistance level around 1.174 on the H1. - On the daily timeframe, the fibonacci level of 38.2 has been fulfilled at this key level of 1.1740 which if holds up could imply that the retracement has finished or halted for the time being. - Could see price action consolidate within the previous trading range...
Retracement and rejection of resistance
Perfect rejection of the resistance and clear harmonic pattern.
The sma50 acting as dynamic resistance in this downtrend, looks like a good spot to start a short with 2 atr (14) as stop on close.
USDCAD keep being rejected at 1.33 and losing volume. Expecting a drop to 1.31 area.
I'm very instinctiv when I 'm looking for a good share to buy. I was buying in the shop were I always used to go and then I found a new brand of Pasta. The package was nice, it was an italian brand, I cooked it and it was really good, al dente! So I asked me, why this good and unknown Pasta is now in this market? I made a quick Research and I discovered that...
AMD has had an awesome run but is currently testing levels that have so far been crucial in beating down price... What price will do next nobody knows but knowing AMD it will probably be interesting! Looking at the weekly chart shows very clearly the two peaks at the higher level and the multiple times price was rejected off the level below that. Going short could...
GBPUSD is looking like it could setup for a short based on the resitance rejection and trendlines - looking for a confirmation on the daily chart. Anyone seeing the same? or even better, does anyone see it differently? Let me know