Going short here. A head and shoulders reversal pattern appears to be forming. If it breaks the neck line theres no major support that would stop it until the red zone I marked out. My two target prices are marked by the green X's. A "by the book" a head and shoulders pattern usually breaks down the length of the original head after retesting the neckline. I...
I am observing the price action of this pair as I am planning to sell on the 4hr supply level and also in Daily. Maybe a quick take profit would be fine for the risk management part. Please don't forget to visit my YouTube channel: www.youtube.com
Price action is at its all time high, this reversal pattern that is being formed at this area is very significant to test these previous swing highs and swing lows. Opening next week I will look for bearish momentum on the 4hr candles, possibly may wait for a daily close before entering.
Hello traders. Wait for the next daily candle to trade up through today's high and confirm the swing low. Target resistance Good luck traders.
Price contained within ascending channel. Divergence noted on the H1. For educational and demonstration purposes. Trade at your own risk.
The pair took a pause before another rally and this could mean the bad news for the global trade.
See chart for illustration Lower time frame will be published soon as price action is been monitored
Just want to update on the USDHKD peg idea I spoke about awhile back. A bit controversial I know, but I gave reasons on why this is likely to happen. Hong Kong does not have the US Dollars to maintain the peg. The PLA marching into Honk Kong may be what breaks the peg. Looking at the chart, you can see where the buyers are stepping in. We are seeing buyers at...
The Yuan has broken out of triangle and looking bullish. Depends on if Chinese Government intervenes but considering they say they are putting tariff's on US gun sales to Taiwan, they might let it slide a bit
Sell Limit 7.10366 - 7.12181 Stop Loss 7.13995 Take Profit 6.96758 - 6.94944
The Chinese yuan rallied a bit against the US dollar during trading on Tuesday as the Americans announced that they were delaying tariffs against China as the two sides have decided to speak again via phone within the next couple of weeks. At this point, that gave quite a bit of hope for the People’s Bank of China to lower the fixing rate overnight. There was a...
As of late Monday, US Treasury Secretary Steven Mnuchin formally designated China as Currency Manipulator. If we weren't already in a trade war, this is undoubtedly a tipping point as to how aggressive the administration is willing to get with their trading partners...