USDCAD is inside a descending channel, and the price is testing the dynamic monthly trendline. (Purple, check my previous idea )
IF the price will break a descending channel and retest the previous resistance we can set a nice long.
IF the price will lose the support we can see another bear impulse.
Follow the Shrimp 🦐
Keep in mind.
The market is in a Longterm Downtrend (weekly).
This time, instead of beginning with the daily timeframe, we'll begin with the weekly timeframe.
Here is it:
Here you can see three main areas, which affects the market bearish :
The weekly Resistance,
the weekly descending Trendline and
The market is in a Downtrend.
As always, let's begin with the daily Timeframe:
You can see a descending Wedge (with one bearish Fake out).
Consider the distance between the Trendlines: It is getting tighter and tighter.
Because the market has fallen very much and reached now an Area of neutrality, we expect a...
AUD/CHF is moving within an extremely consistent descending weekly channel providing a comfortable overall bearish trend to follow for this currency pair. Price is currently at a strong level of resistance at 0.654 which it has failed to break through convincingly for several weeks. If it fails to do so again this week we will be looking to enter short with a...
EUR/USD has seen a significant climb over the past few weeks after it broke to the upside from a descending weekly trend channel. Price has now been testing the monthly sloping resistance zone created from the highs back in May 2008, November 2009, June 2011, April 2014 and February 2018. Over the last two weeks, a tweezer top formation has been created on the...
The market is in an Uptrend.
As you can see the market is at a Daily Resistance.
That is the barrier it has to BREAK to reach the next Level.
This idea is a combination of a "Bounce and Breakout".
These Structure Levels are supporting the idea:
The (pink) Trendline which is giving Support and giving pressure to the price.
The 50 Exponential...
on H4: EURAUD is overall bearish trading below our green trendline so we will be looking for objective sell setups on lower timeframes as price approaches it.
unless price forms a new swing around our green trendline and breaks it upward, then we will buy this one long-term.
on H1: EURAUD is forming a channel in red so we will be waiting for a new swing to form...
Chart shows all. At the indicated futures price, ES mini-Futurz trades exactly at the gap fill price and upper support TL at 3080; Trend has been UP;;
Fighting the Trend has proven Disastrous since 23 March!! FGS be carefull my Dear Bears!!!
I am closing all my shorts at the open; take what the market gives and expect the opening gap to close quickly IMO! Taking...
EURJPY seems to be making its way back down in our respectable parallel channel. I will be looking for a retracement to our 0.618 Fib area, retest the trendline, and bounce from the corresponding support level outlined in grey.
After successfully breaking out of our descending trendline, we will now be looking to potentially retest it. Currently, the market is trending within a respectable parallel channel. A zone of confluence is created when the previous broken trendline and the current ascending trendline, meet each other. Furthermore, we have a clear 0.618 Fib retracement - lying...
We managed to see a clean break of the ascending trendline looking back at the 4H time frames. Currently we are in a retracement phase, where there is a potential to retest the trendline, as well as the 0.618 Fib level, and see further downside formed from here. Furthermore, our 0.618 level corresponds perfectly with our previous supports (now acting as...
The price is currently moving towards our respectable trendline, where we would like to see a potential bounce created off the corresponding 0.618 Fib retracement level, and continue to the downside. Furthermore, there is a crucial historical support area, now acting as resistance, which we would like to see retested!