After yesterday's FED contribution, price has finished a 1-2-3 wave right into the previous south breakout on the daily, meaning the correction may end here, and price can first make a correction of the correction, then long trend may resume and in this case, further target zones become valid.
Trade safe! ⚪️⚫️...
price is expected to move to the upside after the leading diagonal formed wgich stand for wave A and correction is in place to the QM level which stand for wave B then after wav B is complete , we will move down for wave C
-Head and shoulder pattern created
-Price is retesting the neckline
-Price is below 4h 200 EMA
- 1D RSI is below 50
If price will break out from ascending channel there is good chance for short position
TP target: Fibo 0.5 , 1D 200 EMA - 379-385 HUF
Fundamental support could be the agreement with EU and the Hungarian Government...
USDHUF made a quick correction. Many traders see such a move as a turn, but remember: until the weekly pivot (red zone) is broken, this market is in a long trend. I've marked the long trigger zone that, at the moment, shows the level that, if taken back by the buyers, I go long.
What do you think???
Trade safe! ⚪️⚫️...
A clear start of the correction made (part of) its first impulse wave that tested a nice north breakout on H4. I expect a correction from here and another wave down where the target is a Daily north breakout.
Important to know that imho the steepness of the curve doesn't matter, we are in the CORRECTION. It means, R/R ratios are not as favorable as in an...
Hi friends and fans of Fibonacci
As the price comes to Fib level (1.618, 445.309), it will retrace to some degree, so we could prepare to short. In the past, price retraced at D1 (0.786, 342.943) and D2 (1, 369.273).
Stop Loss: 450.100
Entry D3: 445.309
Target E1: 411.589
Target E2: 387.306
Target E3: 367.680
Target E4: 348.054
Remark : We will update the...
USDHUF trend is long. If you take a look at the daily (it is the H4 chart), you can seen that it has reached the Daily FIBO 200 level with a sharp impulse wave. It's more likely that smart money realizes profits at this level, and on H4 there is a 1-2-3 move down beyond the last north breakout. These two factors tell me that a correction is under...
Bullish rally at USDHUF already reach resistance point inside channel up at 441.750
in the next few week we expect some correction with target at fibonacci channel around 420, with maximum target at channel support around 406.17
to take short sell at bullish market is not an option,
the best strategy to enter this market are to wait this coorection over, and take...
Just a quick update on the USDHUF. Direction is undecided yet, I'd wait for a confirmation in the trigger zones.
ANYWAY, a lot of Qs about the direction of the price. But it doesn't matter. WE JUST REACT!
Trade safe! ⚪️⚫️
Thanks for reading my...
USD/HUF technical analysis
The worst-performing currency today is the Hungarian forint, down by more than 1% on the day against the USD ( USD/HUF ), as Russian gas disruptions fuelled selling pressures on Central Eastern European currencies.
The latest candlesticks analysis provides a strong bullish signal generated by the three white soldiers pattern. This...