There is serious structure support here at the $80 mark with a validated upward trendline and also a validated horizontal support line (which was previous resistance). The MACD is also at the same level it was when it hit its last low on March 11. Furthermore there has been a surge in positive volume of roughly 2x the 20 day average. The price has fallen into its...
RCL has pushed into its upper bollinger band and a strong resistance zone on relatively low volume. Price support remains much lower and we expect RCL will consolidate within this range until earnings are released. The MACD is also showing a lack of conviction from the bulls as it remains entwined with the signal line. This may be interpreted as a lack of upward...
After a string of higher highs and higher lows in quick succession to one another the price has begun to go sideways with shallower moves upwards and deeper moves downward. A break below recent lows would certainly confirm a very high probability of a retrace back to the 0.382 fib which also lines up with longer term price support and would result in a lower low...
Potential here for this up trending channel to be validated. MACD showing signs of a turn along with the latest daily bar also displaying strength. DYOR
PII has rejected a resistance zone after moving up into it on low volume. Underlying trend support lies lower. Risk reward is reasonable here. DYOR.
This megaphone-downtrend type structure is continuing its downtrend. The most recent LH has been confirmed as it broke through its prior lows to put in a new LL. The bias for this pair remains a strong short only until there is evidence that this downtrend has finished.
Still holding a convincing pattern of LH and LL even after this temporary shake out before US GDP DYOR
After a very consistent series of higher highs and higher lows in GBPUSD we now have the opposite occurring. DYOR
A high R:R trade here that could pay off big. RSI divergence combined with fib and price support as well as a pivot means that EURGBP could well hold this level and rebound upwards As always DYOR
Now is the time to short USDJPY to catch what could be a very large descending triangle formation. USDJPY has stalled at multiple levels now including a pivot point and 2 key fib levels. Furthermore there is overhead down trending price resistance. Furthermore the RSI pushed into overbought territory but has fallen back under this threshold after running into...
After a significant drop without any form of retrace as of yet it is worth considering a long scalp on EURUSD. This is despite my belief that trades in general should have a short bias on EURUSD at this particular moment. A long scalp offers significant risk-return metrics at current levels. The price has recently respected the 1.272 fib extension, the daily S2...
Essentially we have an ascending wedge (bearish) which I am assuming now will complete with a break downwards due to the divergence in the RSI. Furthermore if you look to the 4hr candlesticks the recent failure to push to a higher high after the tweezers and a bearish engulfing pattern has lead me to the conclusion that it is unlikely we will continue higher from...
Albeit small differences, a lot of similarities in structure here remains. DYOR
A bearish pitchfork has formed in EURJPY After completing point 5 the price has attempted to break above the 1.5x-2x channel of the fork in order to violate the set up. However after breaking this level the price was faded. The level rejected also coincided with 2 fib levels (2x fib extension from a prior move up and a 0.764 fib retracement level). If the price...
Trend line, structure and fib resistance here
See chart. R:R at current close is 1.25 with a stop placed above previous highs + 0.764 fib and a profit target of the 1.618 fib level which is also a support area. As always DYOR
Key points 1) Descending wedge formation is a bullish setup 2) Break of wedge formation occurred on down market day 3) Accompanied with large positive and increasing volume 4) Consider fib retracement levels as potential profit targets for this set up
Big weekly break here for $FEYE with plenty of volume propelling it higher, new 52 week high. A stop slightly below weekly close would be a good indication that the set up has failed. If not we are targeting the median line of this pitchfork, R:R is 2