FX:COPPER in the daily time frame, is developing a possible inverted head and shoulders pattern. To validate this formation, we need to see a break and close above the neck of the H&S´s. The trading plan, after the validation of the pattern, will be to wait a pullback to the neck and then see a reversal A+ sign to buy with first target at 2,25. Twitter: @RatioFx...
After 5 days of down moves, on Friday, the 1.1100 support level hold the price closing with a reversal candle in the daily time frame. For tomorrow we can expect 2 scenarios. First, if we see a pullback again to 1.1100 support and then a reversal A+ sign in 1 hour chart, we can buy with targets at 1.1300 - 1.1450. Or second, a break above Fridays high can trigger...
FX:AUDUSD pair is developing a possible inverted head and shoulders in the daily time frame. To trade this pattern, first we need to see a break and close above 0.7200 resistance level. Then wait a pullback to the same level and identify a reversal A+ sign to enter a buy position with targets at 0.7355 - 0.7590. To calculate your lots size for this trade, visit...
The FX:NZDJPY pair, in the monthly or weekly time frame, you can see that price is forming a possible head and shoulders. The pattern will completed after a breakdown and close below the neck of the pattern (74.00). The trading plan, will be to wait the break and close below the neck, then see a pullback to the same level, and in the level see a reversal A+...
Last week, FX:USDJPY moved down a -3.08%, broke and closed below the key support level or neck of a head and shoulders formation in the weekly time frame. Now, the key support level turn into resistance (116.00 approx). The trading plan for this technical situation, will be to wait a pullback to key resistance/neck and then see a reversal A+ signs to sell with...
Las week the FX:XAUUSD broke the 1180-1190 resistances that now is support, after forming a descending wedge pattern. We will be keeping close eyes in the key support level at 1180-1190, and if we see bullish reversal signs, we can buy with first target at 1300.
With the recent development on daily chart on EURUSD, This pair broke head & shoulders with the support level coming in at 1.0800 , which should be resistance now. So with that said as long as the market trades below 1.0800 downside risk is much more evident targeting the next significant support level 1.0500. Only a break above 1.0800 and sustained close above...