You can see that the wave respected the weekly and monthly resistance, which alined with the rsi being in the overbought zone. see link below! Also the wave respected the 0.618 level which is a strong level to short.
Head and Shoulder pattern complete with retest of the neckline (annoyed I missed the entry). More visible retest and push to downside on daily timframe Price currently approaching area of support - previous retested at least twice Waiting to see PA on the support and monitoring on 4hr and 2hr timeframes for entry! Happy Trading!! OANDA:XCUUSD
We looking at a double bottom price pattern on the 30, H1 and H4 TFs Hence anticipating a bullish continuation .
Yep - the algos play out the addicitons of their masters to cheap money: low interest rates, REPO pumping, and the implicit guarantee from the FED. But an itty bitty virus that disrespects world leaders, has everybody flummoxed and reaching for safe havens. In this screencast I show a bit of algo action and some smaller time frame trends which can last for over...
As seen on the chart, GBPUSD has hit support and I expect it to bounce back up. RISK: Medium to High Why: Because the candles at this point are still weak and it has hit the support before the trendline, which could indicate that it's not going to follow the trendline anymore, or it could go back down hit the trendline then bounce back up.
EUR/NZD entered the area of resistance It may come back and fall but if it reaches the line(Breaks the 2 levels of resistance) it should continue moving higher. But for now we need to wait and once we will see what will happen we need to go for the 4H/1H timeframe to look for the right entry.
ETHUSD is also similar to Bitcoin just a little bit different chart, Ethereum is also at a very low price near support hitting the up trend line where the market bounced up already a few times in the past, see the green arrows, and now at the up trendline the market formed a bullish engulfing candlestick formation which is also a formation where the market is...
Cadjpy Is in downtrend after breaking out the trendline. Watch-out for short entries on lower timeframe
Looking for continuation of bearish trend identified on daily chart. Observed double top on daily after short uptrend movement, expecting a reversal back to the downside. Currently looking for sell signals -- ex: overbought, bear divergence bearish pin bars, waiting for price to make its way back down towards support level of 0.8370. Potential trade setup: Entry:...
This pair bounce from a strong resistance zone and the top of an ascending channel, making a triple top pattern. right now the price is reaching the bottom of mentioned channel,that is a bull zone. it is possible that price make an extension to the support zone below the line of the channel, that is converging with a .61 FIB level. Then we will wait to see some...
Happy Monday everyone!! After screening my chart this afternoon, i saw that there is interesting sell signal on Euro / Yen especially at the bigger time frame. Is it possible of the bear take in charge now? hmmm.. Might Be!! but lets take a look what information market currently gives us. Monthly Time Frame - Downtrend line potential 3rd touch - Support...
SETUP CONFLUENCE Monthly Time Frame - Support breakout, Pullback and possibility for bearish continuation Sell Signal Weekly Time Frame - Support breakout 1.61597, pullback and possibility for bearish continuation - Bearish engulfing candlestick formed, range = 1.63132 - 1.60322 Sell Signal *SELL SETUP EXPLANATION* Daily Time Frame After looking at...
AUDNZD is sitting near support the market has formed a Head & Shoulders pattern I believe if we break the neck line it will be a great opportunity to take advantage of, be patient!
Continuing the analysis on XPRUSD. See the previous three ideas, they are all parts of the same analysis (in the Related Ideas below). The chart tells all the data. I have spoken. See the charts closer and not so much: Pay special attention to 4 facts: 1.We are experiencing low volumes(consolidation phase) for months really. (the same happened already...
I don't like to speculate too much, thus I am very cautious when mentioning anything further than a few days from now on into the future. This idea was born as an answer to the question pitched by fellow trader - nickrandy1 . Respect! Simply two charts. The #1 major reason why we are going sky up is mapped above - the FINISHED correction model...