Pound dollar is on focus:
1.30 support is the key level for this pair,
bearish breakout of it will trigger strong selling reaction.
Sell only when daily candle closes below structure
or wait and sell the retest of a broken level.
Targets based on structure:
1.28 and 1.27
welcome to another free signal!
Target 1: 1.69028
Target 2: 1.69279
Target 3: 1.69637
Point of risk-reduction: 1.68696
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
After a long consolidation, MCO have breakout of triangle on 15 Feb. and retested that breakout on 04 March. The price was rejected from there, which give us a great opportunity to take a long position.
Another thing to take into consideration, is that we are trading above the 200 MA .
Use the fib. levels for entry and exit points!
Feel free to leave a...
Gold is currently on triangle correction that is preparing for upside strong trend. As elliot wave theory it should be ending the E wave of triangle, and next big move will come. B wave is finished on exactly 61.8% of A wave and D wave is also retraced exactly 61.8% of C wave. Remember that it is hard to anticipate where would E wave ends, also it is long-term...
EURGBP has been accumulating buyers for a long time now, it is a clear signal for a reversal to go back up the range. I won't open the trade today (Sunday) but will be looking for entries on Monday London Open.
Have a good day & a fun weekend, energized & balanced.
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I will show you in this analysis how to trade ranging markets before the break out.
After a long time of consolidating we will see a break ot, but how we can trade this and how we find the right setup.
First draw the triangle an the boarder lines of the range.
The border line of the range are the entry points for your stop orders, the opposite range...
So today we saw confirmation of the breakout from previous consolidation. Daily MACD cross, with stochastics confirming breakout as well. Resistance at 0.485 and 0.50 psychological, close above 0.50 is blue sky with good follow through and would most likely lead to a run to 0.60 based off price target from previous tightening equilibrium pattern.
Also watch for...
You can draw your "yellow" B wave as a WXY, trendfib it, and you double bottomed at equal length. You can count 7 swings. When you examine the trend line touches of structure, it can count complete. If you invested lower down, I would say it would be worthy the gamble of letting run. Notice the "0" level lower down. The stock has been working on this pattern a...
We can see an ascending triangle about to break. This is a bullish indicator. Will wait another day and monitor closely. The resistance horizontal line becomes support, which is around the 23.6 fib level of the ever high to the most recent lowest level at 88€. I expect price will break by same highest width of the triangle, which means towards 102-104€.
ANALYSIS ON GBP/AUD PAIR:
*-Price broke through the consolidation zone between 1.845 & 1.875
*-Price broke the trendline & retested it
*-Full body closure below 1.845 which has played as a strong level
*-Moving averages almost crossed
*-On 4H timeframe we have a bearish spinning top
Next destination on this pair is the 1.795 support level.
XRP in a major point, a break upside is expected right now, even thought the Slowstoch shows bearish signs! I still belive we are about to see an upward movement. Waiting for volume to enter the market!
This idea includes long position and also you can choose to short from explained areas&lines.
My idea is long depends on the price action on triangle, actually this is big short or big long so you have to keep look the chart and join this plane, to short or long.
Because of my bullish mindset, i like to go with long first then we will look for short.