Aussie dollar has pullback to .618 of previous bearish swing, tested previous reactive structure at the level and a previous trend line. with RSI hitting resistance at this level. Price formed an inside bar at 1H chart. Short upon breaking down. If price breaks to the upside. No trade as there is many resistances ahead.
ETH forms an inside bar at at key area. RSI is oversold. And seeing the amount of short interest piling up, I think there is a possible reversal playing out. As @MarcPMarkets teaches, herd often sells on the bottom. My plan is to enter a smaller than usual size position upon breaking up of the inside bar. First target is $450 where I will close half of my position...
price broke uptrend and now in a downtrend. Which means I want to short pullbacks
Looking for a long in USDCHF for the reasons mentioned in a title. Stop loss under the support zone and target about around previous high, 89 EMA or downtrend line (not on the chart) do you agree? Dan
USDCAD pulls back after breaking a support. Respects downtrend line. There is an inside bar formed on 1Day and 4H time frames. Planning on initiating a trade upon inside bar breaking to the downside. Im going to close half a position at 1:1 risk reward ratio and the other half at 1:2 or let it ride, Depending on price action. Comments welcome Dan
Gold has retraced to a significant support zone, in my opinion. This zone is formed by the structure and .618 fib. retracement of a bullish swing from 1124 low. Along this support zone, Gold has formed what appears to be a Harmonic pattern. Also looks like a bullish divergence on RSI supports my case for a trend reversal. Im enticed to buy gold here for a position...
After a 30% rally of the lows, Price has reached a .618 fib retracement of previous bearish swing from $9995. Inside bar has formed and broke to the downside. Therefore, a quick short can be open. Tight stop just above the inside bar. target is previous breakout in 7700-8000 area. I use trading view as a log of my trades, this post is not a financial advice....