Just as I explained in my previous post, USDCAD is going up. (I linked it to this one) Price bouncing up off support after rejection - this rejection is clearly seen by the long lower wick of the candle below the trendline. This chart is the same as previously, but it shows how I am trading this. Price should comfortably retest the resistance at 1.3210, but my...
GBP/USD short 1H momentum down RSI hitting 80 level MA200 Rejection pin bar Strong support/resistance level pin bar Daily Pivot R1 rejection Trend line rejection ABCD pattern Forming lower lows / lower highs 50% Fib retracement from strong bear sell off 61.8% Fib retracement from following sell off Enter 1:1 risk reward.
The yen pairs have been climbing very high for the pass few weeks. It seems as though price is getting rejected to go any higher. We will see if price will continue falling after it touches the trendline. Still a good opportunity to grab a few hundred pips.
I'm shorting this pair because of the rejection from the top trend line. Stochastic indicator is showing that we may see a second retest of the trend line before rolling over. Entry 81.024 S/L 82.629 T/P 75.133
Although looking a bit choppy, the bigger picture on Gold still shows an uptrend with higher highs and higher lows. Price has touched the floor at ~1180 and rejected the trend line for a third time giving a bullish engulfing and doji bar yesterday, together with rejecting the 0.786 Fibonacci level and closing above it. Stochastic and RSI are in convergence and are...