-As you see we have a bearish triangle on the 1 H chart, a break down the support line-level could accelerate the drop, however, we still see rejection from the 40 $ level.
-Possible support levels are highlighted on the 1 H chart.
- the 1 D chart shows a deceleration when the price approached the gap level of 41.6 $, Confirmed by the MACD...
Hello traders, after having news from OPEC+ and US inventory that pushes the price up, you might want to watch this breakout or rejection of the resistance level for long or short opportunity, as always, we wait for confirmation to open position.
Hello traders, on Friday we've seen strong buy pressure dove the price up after Thursday prices decrease (could be related to the IEA report release where they expected an increase in demand), however, we can see clearly that the price is ranging in a bullish triangle, any break above the resistance line could take the price higher, the current resistance price...
Hello traders, a retracement accrued this morning, the price reached the trend line after yesterday break down, you may want to react up the candle closer above means it's going up, below may mean it's going down.
your comments are welcome.
remember to use the responsible risk management.
In GBPCAD case, we have 2 double bottoms, the first one highlighted in green, the second one in blue, most likely we will have the following scenarios :
1- The first move will be probably downward to test the 1 H chart double bottom neckline (highlighted in blue/ level 1.6855).
2- Firssecond move will be probably upward to resume the uptrend of the...
The oil price is following the 1 H trend line, 39.85-39.95 was previous resistance and now current support, where we can see the rejection which confirms that price is heading higher next.
Head and shoulders pattern form is clear one the chart which may indicate a bearish trend, however, we should wait for confirmation to decide where to go next, it breaks down the blue trend line and the red horizontal support level, we may go short, it fails to break down both line we may want to look for price reversal and go long.
As I mentioned in my last 2 posts about crude oil , today it has reached the 40$ level, now it decreased to test the neckline level of the double bottom formed previously, In case it closes above this level we may take a very good long position toward 41$.
Hello all, as we can see on the 1H and 4 charts, the W chart pattern (double bottom) was formed on the trend line, we can open a very good long position after breaking out the neck level as shown in the chart.
After reaching the support level of the trend line around 72.5 we had a pullback toward 74 levels, now I can see that we have a short term sell opportunity, however the trend is moving up long term, the 76.xx level is a major resistance level and previously before February 2020 it was the support level of a downtrend, so keep an eye on this level which a...
Hello guys, I used volume profile analysis to identify HVN's ( high volume nodes - purple color ), we observed strong support at the control point around 107.70, the next up-level could be around 108.70 where we have a strong HVN, and around 109.2.
your comments are welcome.
We see a strong resistance on a daily chart of EUR/USD, I think the price will start to go down gradually from 1.14 level to around 1.098 (previous resistance and potential current support), the more the levels 1.14 and 1.098 get tested the more we could see a potential breakout up to 1.2. I opened a short position from 1.138.