You can see we reached a support restistance around 26700, reached at the end of April '21 as well.
With the RSI not oversold but lower than it's been in 2 months and buying activity at higher prices, I think the price will go up towards 27600 - 28000 again.
What are your thoughts?
Hi guys, it's been a while! I meant to post this on Tuesday two days ago
So we see SOL making lower highs and higher lows in this triangle pattern.
I think we can wait for the breakout and retest and then trade in that direction.
Note I don't short because of fees on the platforms. But today looks like it might break lower. Wait for candle close.
Also note the...
We can see GBPCAD is at the top of a rising wedge.
Additionally it is at a strong resistance area around 1.749
The RSI is showing overbought, looking for a pullback.
The previous candle's long wick rejection at this resistance also suggests it is time for a correction.
I think there is room for more profit but the first target is next support around...
USDCAD is bearish and it has reached the top of a descending channel.
We can also see on the RSI (thanks WhentoTrade) that it is overbought and ready to drop.
SL is ~10pips outside the previous high. TP I'm aiming for closest support.
Let me know what you think!
So we can see Shoprite is breaking out of a falling resistance trendline here.
But the day is not over!
If it closes above trendline then I expect it to move up towards R135 (resistance) and potentially R144 (another resistance but also the point of control according to orders.
This is my view. I'm not trading this now. I already have one running.
Like other Healthcare shares in South Africa we see Netcare reaching close to 2020 lows.
On the higher TF global trend we see a falling wedge as well.
However at 1215 there is a strong resistance.
So I have gone long here targeting the falling resistance line in bold. From there we can reassess.
Note that we need patience into 2021 for this to play out.
So you can see here that the trend is rising but failed to breach the higher TF falling resistance trendline (bold line).
We can also then see lower lows and lower highs.
I think it is a short with SL just past the previous high and TP near previous low. RR 1.5
We're reaching a global resistance with the falling bold blue line and currently in a horizontal resistance area.
Wait for bar close and enter short.
First target is 1.1881 but there may be more in store here.
On the daily TF we see we've reached the rising trendline that has been obeyed a few times (blue line)
We are also just above a resistance area, confirmed by previous bullish order blocks (Thanks wugamlo)
It could also be a double bottom forming.
So I'm longing
The trend is at a resistance area now.
This is also the top of a falling wedge.
We can place a short with a good RR ratio of 1.9.
For now I'm targeting the previous lows.
This is not trading advice, just my ideas to test/check my understanding.
Let me know what you think