MTForexBook

MTForexBook

We are at an important level having a few reactions. I'd be more inclined to look at the scenario where we break above, back test and then head further up. If we begin to fall, I'd want to see a pretty impulsive fall before going short . This pair (recently) "hovers" a lot so it makes direction a bit difficult.

MTForexBook

We are at a crucial ascending trend line. I think this is make or break for a push up to a larger weekly/monthly resistance or a fall back pretty far. I think we'll get a sense for direction in the first 8-12 hours this coming week. Keep an eye on this one.

MTForexBook

We've got a very important support/resistance we'll play with this coming week. We're either going up, test and fall OR above, back test and go further up to a weekly/monthly resistance which is pretty high above. I don't expect direction to be clear for a couple of days. So, keep an eye.

MTForexBook

We have reached the 61 fib extension and stalled. I would like to see a retrace back down to the untested double top before heading higher to test the previous high. This would also mean we potentially have three reactions on the blue line making a trend (two reactions don't make trend; three does).

MTForexBook

Although we're keeping under a key resistance level going back to Oct 2019 for the last several days, we've seen it punch up just above three times before and then falling. I'd be more confident in a sell if we fail at the previous high line, or if we have a very impulsive drop from the current spot.

MTForexBook

We are currently backtesting the key support/resistance line after breaking it today. If we have a confirming red candle after this backtest, it might be a good sell.

MTForexBook

We've broken above a key support/resistance area. If we successfully back test this line, I'd be more comfortable with a buy. HOWEVER, given this is our 5th time around, I would definitely keep a close eye on it or tighter than usual stops.

MTForexBook

We have broken down a key support/resistance line and retested on the 1H view. I'm going to wait until we retest what looks to be a key area with three reactions before entering a sell. I'm thinking we have opportunity to test the previous low. Not far below that previous low is the key support from 2019.

MTForexBook

We've come to a key area of support/resistance where a reaction is likely. I'm only a long if we can keep above this line, retest it then confirm with a confirmation candle. I would still keep a close eye on a position or move stops up often as we're getting pretty thin in the triangle pattern.

MTForexBook

Ultimately, I believe this needs to come back and retest the support/resistance from Mar 2020 line before we see any more big downside. This is a key level. At which point, I'd be more comfortable with a sell. I can see this coming to create a double bottom on the Jan 2020 support before turning up to retest. With that said, keep an eye on that Mar 2020 level;...

MTForexBook Updated 

We've broken above a heavy reacted support/resistance line. However, we have a couple of recent false breakouts. So, I'd wait for a retest and confirmation candle on a 4H timeframe before going into a buy.

MTForexBook

Before taking a buy on this pair, I'd wait for a break above a heavy reaction zone and a successful back test. Target profit is hard to predict on this one as we have both a descending line as well as a horizontal zone. You could keep a tighter stop as you get close to the descending line in case it wants to crash after hitting said descending line.

MTForexBook

We look to be recovering from a pretty drastic fall. We went down to test a very obvious 2017 support/resistance line. If we can break above the descending trend line, retest the 2017 line and close with a green candle above, I think we can head back up towards the broken, in my opinion, a very weak back-tested broken support.

MTForexBook

We broke above and now back-testing the support/resistance line going back to Feb 2020. It is also the 23 Fib extension line. If we successfully test the line to go up, I'd say our minimum target would be the 38 Fib extension line.

MTForexBook

NZDCHF is currently testing a key trend line with 3 reactions. It is also at the 50 Fib extension line. If we can break above and retest, it might be a good opportunity to jump into a buy. Otherwise, if we have two closing red bars on the 4H, I'd be more inclined to sell.

MTForexBook Updated 

We've reached the Oct 2019 support/resistance line. We've retested on the 4H. If we can successfully close a 4H above this line, I'd be comfortable taking a shot at a buy.

MTForexBook

We have reached and, so far, rejected the descending trend line. We also extended to the 23 Fib extension line (not a commonly used one but one nonetheless). I'd wait to see if we close red on this bar; there could be potential to short. If we break above descending trend line, I'd wait for a break and retest before a buy.

MTForexBook Updated 

We retraced from the quick double top, down to the 38 fib which is also a support/resistance line with numerous reactions. We also have a double bottom with a close above the said line. I think we can at least extend back up to the 38 extension line which would put price back at the double high from before.