So last Friday the chart has been stopped going up at this point where it is strong resistance as it has been supported in weekly chart twice. Lets see if the open price will be lower than this and if the price is lower we can possibly expect the H&S that i have drew.
OK so if the chart successfully form this H&S it is quite strong bear sign since this is important line because the price id 74.00 and the placce where it will be RIGHT shoulder of WEEKLY H&S.
So as you can see the green trendlline which is downtrend,last Friday the price hit there and went down which indicates that down trend movement still exists plus the price where hit was 1.3 line the strong resistance. Lets see some chart pattern so that we can short it off.
So as you can see in short term the price is in uptrend parallel line which is strong bull sign but at the end it is still bear by looking at the long term MA. Maybe the trend conversion could be happened but only when the price goes up the green circle that i have drew. that point is strong resistances that we all should look at. If it couldnt break out the...
So as i emphasize that 125 as strong resistance,let me tell you why. 1,the number itself is quite been checked by investors.well 50 100 150 200 those numbers are often checked and becomes trend conversion point as many investor checks.As result you can see it has been supported several times. 2,It is the 0.618 of Fibonacci line that is made by this BIG crush.well...
So as you can see the chart,It is forming H&S for a long time in weekly chart and in DAILY chart the 3 MAs are having PERFECT ORDER of downtrend which is normally trustworthy as the sign of bearish. Nice for shorters,this rebound has been stopped at 1.15 line which is strong line that can be turning pointt of the trend. So now its time to get the second wave of...
SO as you can see,NIKKEI had DUMP but now its back again. Some may think that it had done the trend conversion but it really did not. I agree that it has broke out the strong resistance such as 20600 but there is VERY strong resistance at 21300line. see the 3 lines,Fibonacci of 2 high and lows and the trend line of downtrend parallel line which is so strong! in...
So as you can see it is getting up again from the crush but as in long run,there is downtrend parallel line in DAILY chart and it is also perfect order of 3 MAs but i am seeing that it is going to be trend conversion after breaking out of 83.74 because it is the last lowest price of this down trend and strong resistance at the same time. But if it does not break...
So as you can see that USDCAD is bull in long run because it is still FIT inside the uptrend parallel channel line but in short term there is H&S formed. I would want to short it if the "right shoulder" is clearly formed. But i personally do not llike it when shorting USDCAD when having world situationn being bad and that USDCAD is bull in long run because as you...
As you can see in daily chart,since the flash crush the price went back to the pennant and last friday the price has broke up the upper line of pennant. Although it has broke the pennant,It is quite risky to say it is now a bull trend because as you know there a lot going on about US politics right now and might be bomb news anytime. In order to really recognize...
So as you can see,there is H&S at day level which should be convinced because there is resistance below(strong) so we wanna short this when short term patterens get shortable
As you can see the chart,we look at eliot wave first. Eliot wave indicates that one wave is consist of 5 waves. the 5th WAVE is missing during this downtrend. So we should look about where to sell! Luckily there was parallel channel line which is VERY strong signal and right now we can see the price is trying to hit upper side so that the price can continue to...
Please look at the chart and see the weekly H&S. I think that it is a very strrong signal for proving the top but entry is too early. We should focus on smaller chart pattern in short term so that we will be able to know where the chart pattern works.
I dont expect allot from this pair since it has been in range but incase if it forms H&S i would like to short it
As you can look at weekly chart,the H&S has appeared,Although it is still in pennant,myself see it as bearish because of the following reasons. 1,Perfect order of MA 2,Last friday,H&S within 1 hour chart was formed at the price of the RIGHT shoulder of weekly H&S so we can gueses that it is going to be H&S 3,As fundamentals,you can see the jeff of amazon has...
SO as you can see the chart,I am really having the view of bearish nowadays. please look at the chart,You can see very BIG H&S have been drew which is often appears as *TOP*. Well yes,some people actually can tell me that it hasnt made the "Right SHOULDER" but then please LOOK at the 30 mins chart by yourself. Last friday,H&S was formed in 30min chart just...
So as you can see,CADJPY is definitely bearish,as in long run.1D and 1 W chart is having perfect order as well! Try checking out WEEKLY CHART by yourself coz it is very precious info hehe you find it yourself! HINTS:H&S so as we are ALL trend followers,WE ofc want to short them and right now in 4 hour chart the H&S was drawn just below the effective fibonacci...
Reason for shorts! *So as you can see the chart,IT has broke the very strong uptrend channel line which has been going on for more than a month.which makes good reason for DUMPs. *Although as weekly chart it is still BULLISH we should short them and see if the price breaks the purple lower trend line which has been there for more than a month too. When to...