🔸WEEKLY CHART EXPLANATION: . . 🔸Price is on a downtrend since 2015, making lower lows and lower highs. . 🔸We can observe that it has bounced at the Descending Trendline. . 🔸The first target that we are considering is the Support Zone at 70.000. . 🔸We have an active trade on this pair. Our short trade was triggered after the breakout of the lower timeframe...
a) We know we are on a sideways market right now. However, we always want to know our actions before a scenario happens. b) In this case, we will take for granted that the price will not break the support zone. c) IF that happens, we will wait for a breakout of the descending trendline. d) After that, we will look for a corrective structure, and we...
🔸4H CHART EXPLANATION: . . 🔸Price bounced at the Support Zone where it has bounced multiple times. . 🔸It has broken the Descending Trendline. . 🔸The long term target is the Resistance Zone at 1.8200 if price manages to break the previous local highs. . 🔸We can observe that there is a lower timeframe consolidation at this moment. We are planning a trade based on...
Today we will be working on the 2HS chart a) We can see a clear range (the price moving between a support and a resistance zone) b) We have a broken ascending trendline and a corrective structure c) Corrective structures (abc patterns) are considered continuation patterns d) We have a similar situation at the same level in the past (broken trendline +...
Today, we will share a short setup on FOREX The main idea here is: a) The price was inside an ascending channel, and we have a bearish breakout b) After that first impulse, we are observing a pullback (retest of a broken area) c) From a technical perspective, pullbacks are continuation structures. d) Now we have a clear corrective structure, and we...
🔸 DAILY CHART EXPLANATION: . . 🔸Price is facing the Support Zone that has been tested multiple times. . 🔸We are waiting patiently here for a confirmation before considering a trade on this pair. . 🔸In case of the Bullish Scenario, we are waiting for a clear rejection at the zone and then for a bullish corrective structure on a lower timeframe. The target is the...
Today, we will show you our trading plan for US500 A) The price is inside a corrective structure (purple line). From a technical perspective, this can be considered a continuation pattern (flag pattern) B) A key level to develop long setups is the breakout of the purple trendline. That would provide us evidence that the bullish movement is about to start ...
🔸4H CHART EXPLANATION: . . 🔸Price bounced at the Support Zone and consolidated for about a month. . 🔸We can observe that the wedge pattern has been broken (corrective move). . 🔸We consider that this pair has bullish potential towards the Resistance Zone. . 🔸Will look for a lower timeframe bullish setup. 🔸 DAILY CHART ANALYSIS:
Daily Analysis of EURCHF A) Here, we have a clear scenario of a broken trendline after the price reaching a major support zone on the weekly chart. B) Now, we can see a corrective structure supported on the broken descending trendline. C) Our current plan is waiting for a breakout of the corrective structure and trade towards the next support zone.
🔸DAILY CHART EXPLANATION: . . 🔸Price has been on a corrective move for the last weeks without clear direction on this timeframe. . 🔸The last week, it bounced at the Resistance Zone. . 🔸We consider that this pair has bullish potential, but first, we are waiting for a breakout of the Resistance Zone and then for a retest before consider a bullish trade. . 🔸 The...
🔸DAILY CHART EXPLANATION: . . 🔸Price broke the Descending Trendline and did a strong upside move. . 🔸At the Resistance Zone, it began a corrective move (where we are now). We can observe that the Descending Trendline of the correction has been broken. . 🔸We consider that the bullish target is the next Resistance Zone at 1.25000. . 🔸 We are waiting for a little...
🔸DAILY CHART EXPLANATION: . . 🔸Price has been on a corrective move for the last weeks without clear direction on this timeframe. . 🔸We are waiting for a confirmation here. In case of a bullish breakout of the Descending Trendline, we consider that there is potential for an upside move towards the Resistance Zone. . 🔸In case of a breakout of the Support Zone, the...
🔸DAILY CHART ANALYSIS: . . 🔸Price did a double top at the Resistance Zone and bounced. . 🔸It has broken the Ascending Channel, and we can observe that now price is making a corrective an retesting a strong supply zone. . 🔸Our bearish scenario takes the Support Zone as the main target of the downside move in case it happens. . 🔸 We are waiting for a clear breakout...
Today we have a Long setup to share. Here you will have a full explanation of it a) The price is above the ascending trendline b) Currently we have a corrective structure supported on the ascending trendline. We can see a clear compression. c) Based on those items we will take a long setup with all the parameters as you can see on the chart d) Our...
Today, we have a short setup to share. Here is a full explanation a) The price has found resistance on the All-time highs zone b) After reaching the zone, we saw a breakout of the ascending trendline c) Now, we have a clear corrective structure (ABC pattern), which is considered a bearish pattern d) Our Entry Stop and Take profit are the ones you can...
🔸 4H CHART EXPLANATION: . . 🔸Price broke the Daily Ascending Channel. . 🔸After that strong downside move, it made a corrective move, which was broken some days ago. . 🔸Now it is making a smaller correction, where we are waiting for a bearish breakout. The bearish target is the Support Zone at 132.000. . 🔸 Will look for a lower timeframe bearish setup. 🔸DAILY...
Today we have a long setup to share. Here you will see a full explanation of it. a) We can see the price above a major Resistance zone now working as a support b) On that level, we have a corrective structure (ABC pattern), which is considered a bullish continuation pattern c) We don't have any major resistance on the way towards the all-time highs...
🔸TRADE EXPLANATION: . . 🔸Today we are going to share a full explanation of a Bullish pending trade that we have on EUR/USD. . 🔸On the Weekly Chart, we can observe that the Descending Trendline valid since 2008 has been broken to the upside. . 🔸If we zoom into the Daily Timeframe, there is a corrective move making a throwback to the broken Trendline, and also...