Spotted a very beautiful setup on the daily AUDNZD chart. Here's the deal:
The price trended up nicely with gorgeous swings, respected the 20-period moving average (20 SMA), made a double top (showing trend weakness) and broke with a strong bearish momentum the 20 SMA and the flipzone (= Support and Resistance area).
The Friday close allows me to...
We had a very long range on the GBPNZD daily chart and we recently broke it. The arrow that is pointing on the last candle is the re-test candle, testing the previously broken area successfully.
I will open my trade on Monday and see where price will bring me :) On my first target, I will take out 50% of my profits EXCEPT price is showing strength....
For those of you who missed the initial entry on the EURNZD 4H chart (after the trend line break), will now have a second chance to enter.
We are hovering over a strong flipzone that needs to be broken first with a high momentum bearish candle in order to enter. Do not do mid-candle decisions, wait for a clear break and be patient.
The NZDUSD on the 4H chart might be opening an opportunity for us in the next 1-2 days.
We can see a trendline to the upside and will now wait for a break of this trendline with a bearish candle (preferably a strong push). Some people might want to enter after the break, but I highly suggest to either be patient or to enter with a half position.
We are going to wait for a break of the trendline after a triple top has been created with a final exhaustion move. After the price, I suggest going short with half position as I'd like to wait for a break of the strong zone that has been drawn with a light blue rectangle. Once this is broken with a momentum candle, I will go short.
There was a long...
EUR/USD showing exhaustion. The RSI making a divergence, however, there was a strong bullish candle of Friday close. Here are two possible scenarios:
Scenario 1: On the daily chart, the red line above the candles is a strong resistance zone that has been built over the last months. I believe that it will hit the zone and reverse. My approach is not...
A typical pattern appeared again: The Australian Dollar is showing exhausting and a possible trend reversal is on the way.
A double bottom appeared with an RSI divergence. I will wait until the candles break the 20 SMA and close above it in order to enter.
This analyzis has been done on the 4H chart.
Thank you for reading :)
After the long uptrend, the EUR/USD pair is showing signs of exhaustion. First, it seems to be failing to make a new higher high, as seen on the latest candle. The RSI is starting to show a divergence (RSI is not making a new higher high on the latest candles).
I will be waiting until the 4H candle breaks the 20 moving average from the Bollinger...