price on the daily has set a nice support and resistance line as you can see, you can also see that price has been ranging between my two zones apart from when it had a real big break out to the downside. you can see it has come to the top of my zone i would look at setting a SL at around 0.90900 and a TP of 0.89000 so a nice 150 pips
good luck and stay positive :)
Taking fundamentals in to play, due to the whole corona virus you can see GBPUSD hit its lowest its ever hit in history due to these fundamentals i would expect GBPUSD to start to find its feet again and gain some strength, also on the technical side you can see its creating new lower highs and it also seems to be forming a wedge. i would expect price to come down...
as you can see here price has been ranging up and down just after it created low from all the way back in 2013. i would expect price to carry on falling all the way down to the 132.000 level which is around 150ish pips. After price has hit that area i would expect it to bounce off and continue ranging making it possible to catch a long all the way to 135.000 which...
Here as you can see its broken the WEEKLY resistance line, It has comeback multiple times to retest the resistance line (now acting as a support) There is a chance it could be forming a triple top pattern. it may bounce back down and comeback to the support line before going long or it may break the support line in order to complete the triple top pattern
I posted this trade around about a weekish ago i predicted it was going to move up and down in the wedge pattern which it has done so far. congratulations to everyone who's been catching the pips and making bank. i expect it to still move up and down in the wedge. overall when it breaks the wedge i am predicting it will go long.
The price was moving upwards in a nice rising wedge pattern. It has now broken the pattern and formed a new resistance line, the area i have marked is a support line which Im waiting to break and close below the support zone before entry.
As you can see here EURCAD has formed a wedge pattern, This is a daily time frame i would expect to see it bounce off the support and resistance lines multiple times which means theres quite a-lot of trading opportunities for both longs and shorts while it is in this pattern. Once it does break I expect it to go long but i will have to wait for price action to be...
On the daily time frame price has broken the resistance level which is now acting as a support. The price has now formed a rising wedge which indicates a drop is coming, I have also marked with horizontal line an area the price has had heavy resistance in the past and I expect price will rise to this level before going for a short
As you can see the price has broken the resistance line and created a new higher high, I would like to see a retest on the daily timeframe before it is a valid entry.
We have a nice support and resistance line set where it has struggled to break through multiple times you can also see its in an ascending channel which indicates it will come back up to touch the resistance line. It has tried to break the support multiple times and kept bouncing back off it has now had a nice bullish candle which indicates it is going up. I would...
I have set my my support and resistance and you can see the price moving upwards in a nice channel. You can also see two areas i have marked off which is where price struggled to push through. On the hour time frame price has decelerated and is struggling to push through, it is now moving sideways which is an indication of a drop. on the hour time frame a falling...
i like to keep trading as simple as possible, as you can see here you have a support and resistance lines marked with a sensitive zone marked where i think the price will reach. You can see the price broke the resistance level retested then had a couple of doji candles indicating price is struggling to break through. it has now broken the support (old resistance...
i like to keep trading as simple as possible, as you can see here you have a support and resistance lines marked with a sensitive zone marked where i think the price will reach. You can see the price broke the resistance level retested then had a couple of doji candles indicating price is struggling to break through. it has now broken the support (old resistance...
