Bull Flag started from about the evening of 4/29. Recent HH is showing 58525 with pull back to a good short term support level. Looking for a breakout to the upside from 58525. This should bring us to revisit 60k again, however this level has shown in the past to not last very long.
I believe a breakout is possible. Hopefully Bitcoin can establish a good solid...
Looks like on the H1 chart of GBPUSD we are in the middle of the 3rd leg of an impulse wave.
Remaining Wave Targets:
Wave 3: 1.3963
Wave 4: pull back to the 1.3853 or 1.3787 area
Wave 5: should give us roughly the length of Wave 1 putting us around 1.4026
On the NZDUSD H4 chart we have a Hanging Man candle stick directly below the upper trend line of a triangle.
I have include my current active trade. I will more than likely not be holding this over night as New Zealand has potential high impact news coming out from RBNZ on interest rates.
Option 1 (50pips)
- Entry: 0.7220
- SL: 0.7255
- TP: 0.7173
AUDUSD H1 looks to have formed a bull flag pattern forming from the rally of 0.7651 to0.7714.
TP: 0.7657 or 0.7621 (38% and 61% respectively)
DXY has found Support around the 89.66 - 89.80 zone since mid December.
We appear to have entered a Resistance zone that I believe will thoroughly be tested this week and going into the first week of February 2021.
- Ascending Triangle, associated with a bias for an upside breakout.
- MACD is below the center line with steady movement to...
- The daily chart looks to have been forming an Ascending/Rising Wedge.
- Since the beginning of December 2020 price has been on the rise with RSI steady above 50, but remaining under the overbought threshold of 70.
- MACD has also been quite flat as well since December 2020.
1) Upside breakout, if upper trend line is broken we could see upside and...
Simple look at the daily chart for EUR/USD heading into the last full week of January 2021.
With high impact news coming mid week we might see some movement to the upside for a retest of resistance.
Area of interest:
- Fridays high shows previous wick rejections in early to mid December
- If we can break this high I believe we might see a good retest...
- Inside bar setup on 10/13 and 10/14.
- Price action is occurring below the 50 MA and is showing a trend line break to the downside.
- The daily does have some past support around 0.7140 price area.
- If we break below this support its possible our first stop is 0.7100 then 0.7005.
Tuesdays close gave us a lower high from January 10. Depending on how Wednesday closes we might see a continuation to the downside.
Looking for a close lower than Tuesdays high of 0.97415. This would give us a shooting star signaling a reversal.
A close below that on Thursday would be confirmation.
Tuesdays close on the 1D chart gave us a bullish hammer. Depending on the outcome of Wednesdays daily close we may have a sign for a bullish reversal.
RSI is sitting around 35 which may also give the indication the trend has tired out.
Wait for Wednesday close.
If we close above 1.1025 (the hammers high) then I will be looking for a long...
- 4 Hour Chart
- Trend is upward
- Resistance 1: 1.0994
- Resistance 2: 1.1071
- Support 1: 1.0922
Looking for possible breakout about R1 @ 1.0994. Hoping this is rather weak as highs from the past Thursday and Friday have touched.
If breakout is rejected we may see a fall back to support around 1.0922.
If rejected at first, may want to wait for a...
AUD/CAD pair has been in a channel down trend since beginning December 2018. It has since failed to break upward without retreating back into the channel.
I am looking at a possible long reversal mid to late October. The last time we saw this price was around May-July 2010. During this time we did see the pair reverse to the upside.
Support around .8950