Potential Short position as indicated by ADX indicator as well as Ichimoku indicator due to chikou span crossover as price action begins to move below the Ichimoku clouds. (Note: This is my first time using the Ichimoku indicator)
Price making a double top at .71800 resistance level. Not making a higher higher - 4 hour showing bearish momentum. the MACD 4,9,3 breaking previous support level. RSI showing NZD is over bought and signaling a pull back. FIB retracement between ,5 and .618 levels 1:3 Risk/ Reward Please comment your thoughts.
Bullish trend on daily timeframe However look at price action failing to make new highs. Head and shoulders patterns forming Heading to 6.980's?
Después de haber violado un triángulo descendente, buscamos oportunidades de venta en la zona previa de resistencia, la cual coincide con un fibonacci de 38.2 After breaking out a descending triangle, we're looking to short the market at previous structure resistance, in confluence with a 38.2 fibo level Be careful this week with the Brexit News Cuidado esta...
Please see annotated chart for details.
Please see annotated chart for details.
Please see annotated chart for details.
PROS - Rejection of key resistance - Rejection of downward sloping trend line - Rejection of 50 ema - Stoch RSI signalling overbought Thoughts?
MCD is at its Elliott Waves monthly time frame target in the $132 area. 5 waves completed RSI14 is showing bearish divergence. MCD is testing the upper band of its rising channel. $132 area is corresponding to the 1.5x the height of its previous channel projected on its breakout point in 2008. Minimum target in the $101 area, then possibly $82.
After a powerful bullish trend the FX:NZDUSD shows a nice indecision candle on top of a resistance area. From the price action point of view this usually means that the bullish power might be transitioning to the bearish side. What do i do? I executed a pending order below the low of the indecision candle to go short. As always i keep my Risk/Reward a 1:2 ...
Looking to get short around the 110 even handle if price action makes its way there. we have a swing high to swing low .382 fib level in our Kill Zone110.01 we have a fib inversion in this zone 110.00 we have what looks to be a harmonic move (3 drives) that would end in this kill zone also if I get the oppurtunity in this zone to get short i would be looking...
Reasons 1) Bearish hammer on 4h 2) Divergence in play with RSI and MACD 3) Price got rejected at key resistance level 1.141 Note: a) Taking half profit at trend line b) if prices break, taking the other half at 61.8%. If not, move to breakeven All the best for some quick pips. This is a short term trade.
Entered short at top of the channel, SL on chart. I personally see this pair heading down and breaking the channel downwards towards my green area on chart at least. RSI on 4 hr is very overbought. Size lot: 0.35 Risk: $163 Reward: $957
USDCAD targets 1.285. Good Luck!