So far this ascending channel has been respected on 2 times on the upper level and 3 times from the bottom. Looks like 50k is the new target, once again. Cheers
I am truly tempted to SHORT USOIL at this level but my experience says that we are going to see a more-than-probable short squeeze this week and hit the 74.20 area, previous high. I have adjusted a couple of S/R levels and drawn a potential new ascending channel for your trades. Yeah, I do love channels because they show you where to open/close your trades. Cheers.
Inverted HS pattern, currently developing the right shoulder. Outcome should be a strong bullish movement towards 1.78. This pair represents a great option to add into your portfolio and keep it for a couple or 3 years and lock in the profit afterwards.
Self explanatory idea. Aiming to 1.0985 area to 1.10. So far the long positions from 1.07 are looking very good and SL placed at 1.0795.
Self explanatory. Currently trading inside a descending channel and completing a possible right shoulder on a HS pattern. The outcome should be a bearish movement to 1.25 area (black support line). From the fundamental point of view seems a plausible movement as well.
After retesting few times the 1.6530-50 area we have bounced strongly today and it all points to a continuation uptrend. Target remains unchanged to 1.70 followed by 1.80
API data has shown a better than expected data. If confirmed tomorrow by EIA we could expect price to hit 71.80+ area, otherwise we will fighting again to hold the psychological level of 70 bucks. We have to monitor as well the performance of the USD to help us anticipate the OIL price for the coming days. Short term traders and scalpers may look for a bull...
Currently there are two head and shoulder patterns spotted and valid, one bullish and another one bearish. After readjusting the ascending channel we need to watch for a possible breakout for bears and a bounce from the support trendline for bulls. We have been moving pretty much sideways since the beginning of the year except for June when there was movement...
Today's candle and closing above the resistance trendline seems to be a good and clear signal for bulls to reach their next target around 1.0985+ If you entered at 1.07 keep holding! Cheers
Current session candle is bearish but as many other pairs the market there is a lot of uncertainty at this moment and there is not enough data to foresee a big move either way. Trend is ascending so a bull continuation seems appropriate for long term traders. There is a possible head and shoulder pattern under development (currently right shoulder) that could...
Self explanatory chart. Take positions on the edges of the channel. I am bearish for long term trades. TARGET was almost achieved much earlier than forecasted and rebound allowed to add more short positions. Cheers
I'm bullish for long term trades, I think it is a great opportunity but you need to find a good entry point and you could be involved in some losses at the moment with the current price action, moving from 1.6550 to 1.6620 and back down again. Current candle shows clearly the uncertainty in this pair. Hold positions if you got a nice entry, otherwise look for...
So far it seems quite a nice call but it will not be complete unless it pulls back to the support trendline of the long term ascending channel. Head and Shoulder pattern still valid and indicator of a possible strong bearish movement. It all depends on the inner descending channel, specially on the resistance trendline. Breaking and closing above it could be...
Not a very well shaped cup and holder pattern but seems to be acting as it, so it could be an opportunity for bull crypto traders. I personally don't like to trade cryptos but like to study the phenomenon and share ideas for both bears and bulls when spotted. New ascending channel in play, price bounce from there. Cheers.
That's a good question, what comes next? Few days ago I've shared the possible price movement and it happened almost as expected but today's movement below the support line and being rejected back to the session start pit makes me be cautious on the next move. In such cases I hold positions and let it run a bit to follow market decision. Current hammer-like...
I think the Thai Baht will strengthen a little bit against the USD, reaching the 31.800 area or at least a retest of 32.200 before another leg up of the USD. As mentioned several times in my forex charts, I am expecting the USD the strengthen against most pairs and lead the global economic recovery worldwide. 32.9ish has proven to be a small resistance so far...
Descending channel Vs POC level and possible inverted HS pattern. In this case, and taking into account that USD is retracing against most pairs, I think we are going to trade off the channel and hit 1.38900 to 1.40. Volume is not relevant at the moment so let's see what comes next.
Self explanatory. USD retracing against most pairs. Expecting further correction and possible bounce from that level. Step by step, let's see if we can sit on that support level and how the price reacts once there (volume).