It seems the price will short till the previous accumulation are. If this happens, after a retest of the static resistance we're approcing, the mid/long-term profit may be of 155pips. Not bad, eh?
Always wait for confirmation
Price is compressing in a triangle pattern, volumes are decreasing meaning that we are almost ready for the breakout.
RSI shows a downtrend and the continuation or breakout of that dynamic resistance, with high volumes, may be the hints we are looking for.
1st scenario:
RSI continuation of the downtrend and breakout of the price downwards.
First TP@7390
2nd...
Important phase for the GBPUSD pair. After the touch of the 0.5 and 0.236 of Fibonacci levels, we are facing a triangle pattern with a 4-times tested resistance.
The trend is not clear yet so we have to wait for more confirmations. Same pattern on the RSI with may anticipate which way the trend will follow.
Important test for the NZDUSD. After the first touch and rejection of the support (last minimum of 2015) , price is approaching it again. A further rejection may lead to the beginning of a profitable uptrend.
Analyzing the RSI, breakout @32 level when the rejection occurred, and now it is retesting this level. A further rejection upwards may be the first signal of...
Right now the price is pushing against a static/dynamic resistance @1.1070 (before it was a support). After the double minimum on the weekly support, a breakout with volumes + the continuation of the uptrend of the RSI maybe a good entry. On the 4H TF, check out a triangle in formation!
On the weekly chart, price is stuck inside a channel. No direction in the price action and multiple crossing of the EMAs (8 crosses) mean indecision! On the RSI, static resistance @56. Its breakout with volumes may mean LONG!
Wait for confirmation. possible future scenario: breakout of the channel and retest; wait for it to entry!
Is the H&S pattern forming?
Some hints may be the divergence of the prices with respect to the RSI, and of the crossing of the Short-Term and Mid-Term EMA.
Wait for more confirmations
It seems the price is moving toward the highlighted cluster. Indeed watching the 4H TF, two tight highs occured + divergence on the RSI --> probably it's forming a retracement.
TP @132.12 (between 0.382 and 0.5 fibonacci level)
SL @135.78
R/R 3.7
After this retracement, the Uptrend could run towards @141.19
After the double bottom, we are waiting for the breakout of the static resistance @1.613 showed in the 4H TF. If volumes are equal or higher than the average we can entry LONG.
Note: the Breakout of the RSI downtrend is occured.
Hint: wait for more confirmation which is the breakout of the static resistance
TP @1.6320
SL @1.6106
RR 5
After the breakout of the dynamic resistance of the downtrend + Higher High + the crossing of Short-Term and Mid-Term EMA + RSI in uptrend, the breakout of the static resistance has occured @1.0973. We are allowed to go LONG.
TP @ 1.1060
SL @ 1.0950
R/R 3.85
It seems the Head & Shoulders pattern is forming in the daily TF.
Besides RSI shows a downtrend meaning the strength of the uptrend is weak.
Lower Volumes when forming the right shoulder, with respect to the previous ones, will be the confirmation of the pattern.
Possible entry after the Breakout of the neckline @1.71
SL @1.7160 given from the 4H TF analysis
TP...
After Head and Shoulder pattern + classic retest of the H&S neckline, a downtrend began with a new low!! Wait the end of the retracement and confirmation to go SHORT! Enjoy
Right after the double rejection of the 0.642 level and the breakout of the triangle pattern, is XRPUSD ready to begin a new race in the last two weeks of the year?
After multiple touches on the flip line and forming of triangle, there are 2 possible scenarios for this pair: it could break the flip line downward reaching the 0.382 fibonacci level and bouncing on the support line or breakout could occur upward (in this case we consider valid the 0.5 Fibonacci level). In both these cases we chose as target the higher horizontal...
The pair could bounce on the support line reaching the 0.5 fibonacci level...and it's on the same spot of the round number 0.762! great chance to get some easy pips with tight SL and huge TP...
