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on DAILY: GOLD is sitting around strong resistance 1900 in blue and brown trendline so we will be looking for sell setups on lower timeframes.
on H4: GOLD is forming a wedge pattern in red so we are waiting for a new swing to form around it to consider it...
NZD-JPY had a strong upswing breaking falling trendline.
Now, however, it has reached an iron clad resistance
And a pullback is expected
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price reached trend line support and made a double top and break the previous market structure (reversal confirmation) and made a retest pullback to double top neckline
*double top neckline retest
*20 EMA resistance turn in support
*Fibonacci level 0.5
possible take profit:
swing trading-take profit 1- 1.63500
position trading-take profit 2- 1.64500
I think if swiss breakout upward this time from this falling trendline there could be a possible long opportunity for this pair. Talking about the king (greenback) it is losing some gains which it had from the earlier days of the week from other counterparts. For now, the king is pulling yen lower and I think swiss may take this chance and if the price breakout...
After the stock was sharply falling, the significant volume came out, - that's the first sign of the trend stalling. Then the reversal pattern appeared, which got confirmed by the big white candle that closed above January high (marked as bright green). I was a bit late as I didn't manage to catch the market closing, so I tried to get in at the opening on the...
Confluences for Trade:
- Bullish candle formations
- Stochastic moving out of Oversold conditions
- Price action bounced off Strong Support (since March '18)
- Fundamentally, we are taking opportunity on the reversal of the algorithm trading crash and with FED's hike projection becomes unlikely, the funding currency...
Quick counter-trend setup on the EURUSD due to the formation of a 60-min demand area inside of a daily demand area (gray). The latest leg down on the 60 min has already eaten some of the buy orders of the gray demand area but I believe there are quite some orders left. Hopefully this can produce us a 1:1 Risk:Reward winner. Entry where indicated on the chart (the...
In Japanese, Heiken Ashi means “Average Bar” and it represents the average-pace of prices.
The Heiken Ashi candlestick chart can help you to spot both trading periods and ranging periods that you should avoid.
There are two primary trade signals that we can identify through the Heiken Ashi candlestick:
1- Bullish candlesticks with no wicks or very small wicks...
GBPAUD is in a Day range pattern
Price is at the bottom of the range and also at a long term sup/res level
Price can bounce off range bottom or breakout and continue the trend
Day Breakout trade -
Sell Stop @ 1.7520
Take Profit @ 1.7420
Watch Macd to cross below Red signal line - close trade if Macd crosses above Red signal line again
4H Reversal Trade
Which trade will be determined by the market timing
Long Trade - 5 candle reversal fractal breakout
Take profit previous resistance level
Short Trade - Flag bearish continuation
Take Profit determined measured pole distance
This is a 30 minute chart for illustration purposes. I've been referring to 4 hr and 1 day charts until now.
BTC just bounced at the intersection of the descending wedge and the lower line of the larger price triangle as I had outlined in the last email This is a very hopeful sign for an end to the current down leg.
Looks like the shorts lost their shorts in...
Take a short scenic route to some profits.
Why a long trade?
Higher lows developed.
Price has been away from the 50 sma for awhile.
Macd has crossed above the red signal line.
Watch pullback back to between 38.2% and 61.8% fibs then long.
Take Profit at the 50 sma. Confluence with 127.2% fib line.
Tell us how you would trade this pair!