- EURCAD is coming to the end of its diagonal and price is soon going to breakout
- a break of the descending trend line will signal a breakout to the upside - but be careful of a fake out
- a break below the ascending trend line could signal a breakout to the downside
- if price breaks out to the upside my first TP profit would be around the 1.500 area and my...
- Price has dropped fast down to channel support and were at the point where we will see a bounce of the channel or breakout to the downside
- If there is a breakout to the downside TP target would be around the light blue support line drawn on the chart
- In my experience fast moves into support and resistance often tend to bounce off support or resistance or...
-USDCHF is currently in a diagonal right now and price is approaching the top of this diagonal for a good selling opportunity
- Buy the bounce or sell the break, same can be said for if price does bounce and reach upper line of diagonal
- Price could continue in current channel otherwise if not price is likely to break the diagonal downwards
- GPDUSD has broken out of its former daily channel and looks like it has formed a new one, waiting for a bounce of support line of channel to go long.
- If this channel is broken support lines A and B are good areas to go long if price bounces off these areas, alternatively support line B could be a good area to use to go short if price breaks it and retests...
- USDCHF has bounced off support at bottom of the main daily channel and is now hitting resistance on the 4 and 1 hourly channel, price could retrace from here close to previous level at lower end of channel shown by arrow on the chart.
- However price could stick to the daily channel it has been in and break the 4 hourly sub-channel, on this break it would be...
- Price has broken below the daily channel and already retraced to previous dyamic support line which is now acting as resistance, 4 hourly engulfing bar after price hit resistance showing bearish move taking over.
- Good opportunity to short with target indicated by the arrow - move could be larger to the downside but don't want to make prediction and be greedy.
- Not the cleanest channel but currently in play
- Price has bounced off upper end of channel and looks to be heading toward lower end
- Analysis of 4 hour chart is left on too show bearish overtone I highlighted on previous chart - good opportunity to short on break of wedge
- Price is approaching lower end of the wedge that has formed, may be another bounce upwards to take a long position on
- Overall bearish overtone so looking for a breakout to the downside with a large potential move
- Daily chart to follow to show overall bearish move
This is what i believe to be the channel EURUSD is currently in
- Overall bearish tone until it hits bottom of channel looking for another bounce upwards
- Price could very well bounce of upward off trend line it is currently sticking to could be good time to buy but risky, personally see that it could have small bounce up before breaking the trend line - quick...
GBPAUD in an upward 4 hour channel approaching lower end of the channel
- price could reach the support line drawn on chart where price previously could not go lower and bounce up higher
- OR price could reach bottom end of channel before bouncing up, lower end of channel and support line could meet price at same time making great opportunity to buy. However my...
Channel is still in play (as pointed out in previous published idea)
- If you are short possible opportunities to add to your position using the downward trend line that looks like its is establishing - follow that to the bottom of the channel
- when and if price reaches bottom of the channel opportunity to close short positions and go long if price bounces off...
On the hourly chart price is approaching upper end of the channel.
- Possible short entry if price bounces off upper trend line
- Possible long position if price breaks the channel - may be smart to wait for price to retrace back to upper trend line of channel which could now act as support to enter long position