Possible demand zone around 2850. There are other zones below it but they're not fresh and I would be careful should it fall to these levels as it could signal a potential bearish break. But let's not kid ourselves, even with a bearish break, too many bulls in this market for a sustained downtrend. Should it dip, only traders with cohones of steel would be...
So this is the second retest from last month's selloff. Is there sufficient supply to push price back down? R:R target - 1:3 SL - 71.85 Entry - 70.85 TP - 67.85
Looks like broken structure. Lack of buyers at this level tells me selling would be a good idea. The next demand level is rather far so the possibility of letting profits run longer seem very real. I've put a hypothetical trade should it occur. Update with actual trade if taken.
Seeing as XBT has been bearish since the beginning of the year, it's hard to be bullish about its price. What is clear at this point is we have reached a bottom and there are a large quantity of unfilled demand below 6500. Are we seeing a trend reversal or is the price going to go back up to the 7500 range before heading back down. I'm tempted to believe the...
Buyers have pushed priced furiously since hitting the yearly low twice. Assuming long term trend is turning bearish (200 MA), the 131.00 area would be a great short opportunity. Rejection around the 131.00 would help confirm the bearish trend as we are also approaching the 200 MA resistance.
Short opportunity if price stalls around current resistance this week. Will update entry, SL, TP once I see rejection at this resistance area.
No reason to think USD is bearish at this point. Entry: 1.3115 SL: 1.3055 TP: 1.3295
Watch out for NFP results. May cause whiplash! Entry: 1.3260 SL: 1.3320 TP: 1.3080
Never a good idea to go against the trend but giving 5800 has been seen as support, could be worth setting up an entry here. Entry: 5850 SL: 5730 TP: 6090 Exercise proper capital risk management!
Price has proven to hold at this support and based on the short reversal, a counter trade may be in the works. Entry: 1.1565 SL: 1.1505 TP: 1.1615
Approaching resistance. Probably a good continuation of the downtrend. If price cannot put past resistance for another 12-24 hours, I'll take that as confirmation that bulls have given up and any rejection of higher price will signal my entry.
Support has proven strong over the past 2 years. This is a reversal trade which could be slightly risky. SL: 0.6820 Entry: 0.6870 TP: 0.6970
USD is on a tear and CAD is getting it up the butt. Like any good love making session, there needs to be a break before continuing. Looking for a signal to enter when it retraces around 1.3160. Will update with entry/SL/TP details later
Trend seems to favor bulls. Based on past few days we may be looking at a support level more than resistance. I'll need to see more rejection at support level before going in but I think I'll have a more definite answer over the next few days. Entry: 110.30 SL: 109.90 TP: 111.15
After days of teasing, we finally see a breakthrough. Looking for retracements above 6600 would be ideal to confirm the beginning of a bullish trend. Watch out for the next couple of days for entry signals.
Structure looks to have been broken and even more convincing on the daily chart. Looking for a long way down. Entry: 128.30 SL: 129.30 TP: 125.05
So we're seeing a rally back to resistance after a bear trend continuation. Will this rally run out of steam soon? I believe so. Entry: 1.1585 SL: 1.1660 TP: 1.1430
We're approaching the resistance again and if it holds, it's a good spot to start going short again. We could say a triangle pattern is forming which usually signals a break in either direction. Having a bearish bias, I'd say we're looking to go further down. Waiting for confirmation around the resistance area will determine whether entry is a go or not....