The red trend line has shifted from the supportive level to a resistance level four trading days ago. It has been tested on Thursday and rejected. I am watching the red trend line to short again if holds.
The target for this trade is 1120 if you can manage it and exit on break even if price keeps going higher. Yes!! the current price is over valued and stocks are...
This pair has corrected back to the red trend line where a rejection has been seen and RSI is now acceleration above 60 which indicates that bullish momentum is existing.
Pay attention at the prior top.
Finally, price has reached to my buying level and forming a reversal channel. I will start buying once one daily candle prints a higher high and a higher low. I am not using a stop loss for this pair at all. Good luck.
I am watching the green and red lines for shorting this major pair. The direction for this pair is to the downside as long as the blue line is below the green line and the red trend line is positioning on a resistance level (shifted from support to resistance six trading days ago). No reason for me to buy euros in this scenario and I assume that the current up...
As you see on my chart that the red trend line has shifted from the resistance level to the supportive level six trading days ago (look at my prior chart), and the blue line is now trading above the green line. These lines do not move a lot on daily basis. In other words, the blue line will not cross the green line to the downside by two red daily candles. For me,...
This pair is likely bottomed by crossing up and closing above the green line. If Monday prints a bullish candle (higher high, higher low of Friday's candle), the red trend line will shift to the supportive level.
Stop loss is wide at 106.50
Friday's candle was a good and a strong candle clearing the Thursday's candle high. This level could be the bottom for this pair and an impulsive up move might be starting.
Retesting the green line is the first target and I will not use a stop loss for this trade.
Unlike Gold, Silver has a clear potential to the downside as the blue line is crossing the green line and as price has closed below the green line. The red trend line has to shift from the supportive level to the resistance level further push price to prior lows. Stop loss is 15.60.
Expecting this major market mover to test the prior top(s) as the red line has shifted from the resistance level to the supportive level in addition to breaking and closing above the green line. All major pairs will be affected by this move.