NZDUSD has formed a sell setup on the daily chart after completing a pullback to the previously broken rising trendline.
In the shorter-term, the pullback aligns with the 61.8% Fib level, which may signal that the recent short-term downtrend may continue.
Zooming out to the daily, we can also identify a symmetrical triangle, which suggests that the longer-term...
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Strong rising wedge for the S&P. Could this take a healthy fall back down...RSI implies it is overbought
Also we had a parabolic move up from the lows of December/Jan...with no real healthy moves down for a recovery period on the way back up
Hypothesis: price reaches near ATH to fail at resistant levels. If it price proves to move back down, I think it could...
The EURUSD pair seems to have difficulties breaking below the 2018 low of 1.1176, printing bullish candlestick patterns in the last two days.
Even though the pair has been trading in an overall downtrend for a few months now, notice the bullish wedge pattern in forming. Sellers are losing steam in pushing the price lower to large extent.
In addition, the pair...
The NZDCAD pair broke above a long-term trendline which has started in late 2016 and formed what looks like an inverse SHS pattern.
A daily close above 0.9300 would mark the pattern as triggered and confirm a buy setup.
This week's RBNZ rate meeting will likely create volatility in NZD pairs and either confirm our bullish bias or put the trade on hold.
Hi traders! Here we have a beautiful setup on NZDUSD. After the initial strong up-move following the Fed meeting, the pair gave back its gains to trade near a confluence of a horizontal support and trendline support.
The current H4 candle shows that buying momentum is building up, which could send the pair further up.
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After a strong down-move following the dovish FOMC meeting yesterday, USD/SEK seems recovering at an important demand zone.
The pair is trading inside a rising channel and has reached near the lower channel support, which aligns with a horizontal support and the 61.8% Fib level.
Today's candle could provide the needed confirmation to enter with a long.
The USDCAD pair is forming a very nice buy setup on the daily chart, after recently finding support at the confluence of a rising trendline and the 61.8% Fib level (February 27).
In March, the pair broke above a triangle pattern and completed a pullback to the upper triangle line.
The current price action is extremely interesting as a long confirmation, given...
We broke and close a rising wedge continuation pattern on the last H4 candle close. Right now we are retesting the support trendline of the wedge. If we see a LL-LC after the retest (you can drop a timeframe to the H1 to look for this), expect price to move toward the targets. Move SL to B/E after TP1 is hit.
CADCHF is trading near a horizontal resistance and has recently entered into a consolidation, forming a bearish wedge pattern. This is a continuation pattern, and the price seems to be breaking out to the downside.
Further to the upside, the longer-term trendline could provide strong selling power.
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The NZDJPY is having difficulties to break above the 76.50 level, forming what looks like a triple top pattern on the D1 chart.
The current price is also close to the 61.8% Fib level, which looks to hold so far. Note that we draw the Fibonacci retracement from 72.37, to avoid the flash-crash from January 3 to interfere with our analysis.
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EURCAD formed a promising buy setup after breaking above the falling channel and finding support at a longer-term trendline earlier. The pair now trades close to a horizontal support level.
The pair fell significantly after the ECB press conference last week and bad news about the euro area may already be fully priced in. An important factor for the EURCAD pair...
After ranging since the beginning of 2019, NZDCAD is now approaching an important trendline resistance on the daily. The trendline has started in late 2016 and has been tested multiple times so far.
We need to see a bearish candlestick pattern on the trendline to enter with a short position. A break above the trendline would aim for the 2018 high of 0.95.