Price is currently at the 38.2 zone at resistance and is showing signs of further longs. if price closes as a pin bar, that will give us a high probability for a long trade
CADJPY is currently at the 61.8 zone at resistance and price is losing bullish momentum based on the lower time frames, if price closes as an indecision candle i'll close my long trade in profits and wait to for an opportunity to enter short
I am still holding the EURUSD long trade and I spotted another entry opportunity. Price pulled back from the 61.8 zone and landed firmly at the 31.8 zone giving us a high potential to enter bullish because price never goes on a bull run without retracing, this was just a clear retracement and I opened my positions
The previous trading week closed as an indecision candle and was firmly at support, price gained bullish momentum at the start of this trading week and more bulls may be coming in.
CADJPY is currently trending in a descending channel and price is at the support zone, it is too soon to execute a trade as price may pullback before it heads for longs and there is no apparent momentum so this is an important area to watch..
WEEKLY - Price is currently trading at a significant high, on 2018 price had reached this level of resistance and rejected breaking above resistance, and is now trading at that level, will a case of "History will repeat itself" happen here? DAILY - Price made a huge rejection at the strong resistance zone and gives us a clear signal to go short, however we will...
If price closes as a pin bar at the support level that will give us a clear indication that price will be push up to resistance for a bounce or break on the trendline/resistance.
The dollar is currently stalling at a significant level of resistance where is has the potential for a break or drop scenario.
Monthly - Price is at a significant monthly resistance zone and has not broke above this level since 2017, there is a possibility that price may drop to the support zone Weekly - The previous trading week closed as an indecision candle, price may drop this week depending on fundamentals. Daily - Price is stalling around the resistance zone and is losing bullish...
A classic textbook example of a morning star is quite evident on the weekly time frame of AJ and price lays at support, giving us a strong opportunity to enter for a long trade that we can hold for weeks.
Interesting and profitable move to watch out for. Price should bounce on the downward trend line for the third time and that will give us a high probability signal to go short.
USDCAD bounced on the upward trendline which is in confluence with the support area, I entered long @1.31194 and trade is currently in profit
CADJPY has been going on a downtrend for quite a while now and also respected the trend. However, it broke out of the downward trendline and we can now see a pull, price is currently in confluence with the 50 fib line, could this be the end of a bear run? I'll be watching this setup for any potential entries, I am just waiting for some momentum as price seems to...
Similar to the NZDUSD analysis, again we looking at a potential range and a sell stop would be advisable.
NZDUSD bounced at a resistance zone that previously dropped to support and has now reached resistance again and is showing signs of a decrease in momentum on the resistance zone, this is signaling to us that there may be a change in direction. Also there is a potential range that may be occurring should price drop. A sell stop would be advisable for this trade.