SPX Bulls dominated the market today, finishing nicely today and closes the bar at the high of the day
Moving Averages are still bullish, If prices breaks cleanly above the consolidation area i'm looking at 2070 then 3020.
I'll be keeping an eye of this breakout pressure.
Nikkei currently trying to break the resistance of the parallel channel, RSI (4HR, 14period) is flat lining and turning bearish. There are bear divergence on the MacD and RSI.
If you trust this parallel channel to hold. It's a really good place to go short right now.
DAX formed a double top (it looks clearer on 1 hour timeframe). Price broken the double top neckline and retraces up to 61.8% and got rejected. Will see a down move to the support
Trading strategy : 2618
GBPCAD has made a smaller double bottom at region 61.8%, currently still within the downtrend trendline.
a good trading opportunity is to enter at the smaller timeframe double bottom and long it at the neckline.
Strategy used: Horizontal support & resistance, Fib, Bullish divergence (Weekly) & 2618.
Too Long Didn't Read: I'm long on this.
Shorting GER30 with a double top using the 2618 strategy, Broken neckline and retraces up to the 61.8%, a bear candle is ongoing looks to me like a reversal to the downside is coming
Aggressive entry: enter straight at 61.8%
Safe entry (Recommended): Wait til the bear candle established and short it using smaller timeframe
GBPCHF -0.37% has made a lower low in July, Testing the weekly trend line
This lower low made a double bottom pattern and breaking the neckline structure and retracing to the 61.8% Fib entry area.
Good place to go long within the 2 lines. Look for bullish entry on the 30min/1hour timeframe or aggressive entry long at 61.8%
RSI is currently as of now forming a hidden bullish divergence.
Price is currently at 4HR 50MA and inside our entry area is our buy area where it lies in between the 50MA and 200MA on the 4 hour chart
Yesterday's Daily candle was long bullish candle i expect momentum to continue.
Entry: wait for bullish signal in price action inside the entry area OR you can...
EURUSD created a double bottom after a success run in the previous idea and in addition the 200MA is holding at the moment,
Price has broken the neckline and validates the Double bottom 61.8% fib pattern.
Enter @ 61.8% and exit next horizontal resistance.
For conservative entry, wait for price action reversal candle and enter
EURUSD -0.03% is currently floating in the 50% Fib and 61.8% Fib, Forming 2 Doji in the hourly chart (with inside bar ).
Chart pattern: Head & Shoulders
Good opportunity to short if price closes below 50% Fib targeting 1.17
Trade will be voided if it makes a new high.
Take profit horizontal line is where the 61.8% Fib
RSI has broken the trendline to the downside, expecting momentum to continue within the triangle. Overall picture it's a bearish continuation pattern.
Exit plan: Price breaks the trendline to the upside.
CADJPY formed double top, broken the neckline and corrected to the sell zone.
It's time to short this using the 2618 Strategy.
More reason : Daily is currently inbetween 50MA and 200MA, It's a sell area for trend followers.
Good position to setup a long trade. RSI is showing a bullish divergence in the market currently. Price is currently at support region area.
Taking profit 50% off @ 1st line (1st resistance)
Rest of 50% @ 2nd line. (strong resistance)