- Rejection at 200sma on the daily
- Chuvashov fork break
- Rejection at 38.2% fib
- CURRENT weakness in the USD
- Oil has a negative correlation with USD/CAD. Oil is currently trending bullish.
- 200sma on the 4 hour
- Ichimoki cloud on the daily
- 23.6% fib retracement on daily
My first profit target is 1.29863 or the bottom fork/trendline,...
Looking for a long-entry off the lower trendline. Keep in mind the pound is in a delicate situation and there is a good change the lower trendline will break and we will head to newer lows. Keep a sensible stop loss and hold the position long-term.
TSLA (Tesla) Short
Here's a setup of a TSLA short that I've initiated on Friday. Looking at the Fibonacci retracement lines, it has struggled to breakout of the 38.2% line after it's initial denial at the 23.6% line. Recently, there has been a breakout from the 38.2% region due to a strong market, despite negative Tesla stories as of late. Similarly, price has...