Price has been respecting a lovely bullish channel
We have now a reverse head and shoulders forming with a key neck line.
I am looking for a break above the neck line and a nice bullish continuation to the top of the channel
If this structure breakdown, i will be looking for more longs and the bottom end of channel.
Always happy to chat and discuss the market...
EURUSD found some lovely support from its supply zone at 1.2214 - Nice work if you caught that bull rally
Given the recent sell offs and the pressure that is mounting on the USD to peform, this trade has a 200 pip potential
Stop above the recent swing high
GBPNZD nice setup in the making
The lows of 1.6722 to the highs of 1.9838 mark = 1.8648 (0.38% retracement) was the last bullish rally, suggesting overall buyers are in control.
We now have some clear buying support lines and looking for an overall push higher - 1.9236 could be a tough barrier to break, but once we are through then there is decent head room
Price was observing a healthy sell off until we had a bullish break to the upside - 200 MA providing support too
Using recent highs as the take profit target, we have a bullish break with a nice daily line of support.
This trade will run for 2 - 3 weeks but has a good R:R
Stop loss under the recent low and beneath the 100 MA
Time to short gold
Two resistance levels - 50% retracement and supply/demand zone
Whilst the USD is getting pumped, this may smash through these levels.
Back up plan will be looking at longs above 1300
I bought into the coin at 11,200 through a fund.
I don't pay a huge amount of attention to the fundamentals, as the technical market gives everything away.
Fibs have been useful in the past but until we see a clean break to the downside there are several layers of support which the market is enjoying. Most notable is the horizontal line at 18,146 which...
So the Fed hiked rates last night but gave away their ongoing concern regarding inflation, which continues to be behind forecasts.
Rate hike was 100% priced so the commentary afterwards gave way to USD weakness.
Given we have two trend lines to use as resistance, this pair still presents a decent short setup.
ECB interest rate announcement and forecasts for headcount and QE due very soon
NZD rallying off the back their central banking appointment
Failed to stay in the channel and broken to the downside now - two take profits showing