im expecting a retest of the previous support area which will be the 3rd touch to complete price action reversal pattern to the down side. if 3rd touch comes with a break through support, we shall wait for a pullback in the same zone for entry favouring the bearish side. this is all Technical but also considering that SA just won the rugby world cup, the rand is...
FibLevels shows that price is on its way to 0.2 level making its way to first strong resistance level around the 0.38 area where TP1 will be placed but initial TP is between 0.5 level and 0.62 level. trade solely based on technical analysis, market structure and FibLevels.
we have all noticed that EUR/JPY has been in strong uptrend before going in to rectangular ranging market. we are looking for a break of the rectangular range and a pullback to catch it in trend. FibLevels show that it is currently holding at the 50% retracement level and quite frankly a break from either side is possible but my technical rules of analysis put in...
Since SP500 has created a new all time high, the only way to go is up and now the formation of a trending cycle is about to begin. we all know support becomes resistance and so I believe the previous high that was sustained for such a long time will play the part as we venture into new highs. the value of SP500 is inline with NASDAQ and its obvious that the value...
