On hourly chart the pair OMGUSDT has a very strong bull run. After initial spike the pair has traced back to around 0.5 Fib. level. This level seems to be a good joining point.
on 1 hour time frame the gold has made reasonable gains. in recent hours the resistance seems to be unbreakable. In this tussle the RSI has run out of steam. This fact is further supported by the breach of Trend line place under the current trend. To avail this Short sell Opportunity a trade plan has been suggested.
USDCAD has been in Bullish trend since mid of August on 4 hour chart. But for last few days it has been showing the struggle to climb up the ladder. In this process it has formed a rising wedge and bearish divergence on RSI indicator. All these signs suggest the bears are going to have a party in near future. To join in the party with bears a Sell Stop point has...
On 1 hour chart the pair had a north bound ride but for last few hours it has been unable to overcome the resistance, and forming a wedge and a divergence on RSI indicator. Recent bars has also breached the wedge which is another sign of bears getting stronger. So in anticipation of this a short sell plan has been prepared.
The pair faced divergence and consequently dropped out of bullish channel. Support held the price for 4 times but the breach has occurred so let's join the band wagon.
The pair AUDCAD has been under pressure for some time on 1 hour chart. But for the last few bars the enthusiasm for bulls has been growing which reflects in RSI divergence and initiation of HL and HH. Keeping in mind these facts it seems a long trade can be beneficial. Your are welcome.
KSE-100 Index posted huge gains of 24% in just 6 weeks. Afterwards correction comes in. This downward movement corrects up to 10%. At this juncture we are faced with the question What next. To find the answer we dig in to the past behavior of the KSE-100. Our dive yields three instances from the past. 1. 23rd January 2017 to 17th April 2017 KSE-100 loses 9.51% in...
From 19th of July selling in the Gold started. This downward rally persisted almost for a month. In this period it breached the previous swing low and bounced back. On daily charts recent candles suggest that downward momentum shall continue. Therefore, It is expected the second violation of previous swing low shall lead to further down trend. Stop loss has been...
CHFJPY has been struggling for quite sometime to continue it journey to North but have not been able to cross the resistance. If we analyze the RSI we find that the indicator and price are not synchronous to each other. This fact is visible on Daily charts also. If we look at swing highs we discover that pair is regularly posting lower highs. This is an other clue...
BTCUSD after losing considerable ground trying to gain lost turf. It has been consolidating for quite sometime. Recent bar suggest the bulls eagerness to move the price to north. If the price sustains above R2 we may go long with keeping the stop loss below R1. TP1 has been suggested @ 1:1 and one may let profits run as the target price is at a distance.
IMF deal for the Pakistan served as the trigger for market. It posted hefty gains in the short span of time. but going forward it seems the market seems to be having a breather and time to correct itself. Keeping in mind any such scenario the levels to go short has been defined and possible target area, in accordance with the Fib. Retracement, has been marked. To...
AUDNZD has been posting higher highs and higher lows. But for quite some time it is struggling to post the new high in the wake of tough resistance. In this process a wedge has been formed. Wedge and the present position of price is open to take any direction up or down. To milk the trade opportunity from this situation two trend lines has been drawn. Any closing...
From mid of July the pair has been posting higher highs thus, having a great uptrend. But in recent times it has been unable to overcome the resistance and this is depicted by the bearish divergence on RSI. To determine the extent of weakness we apply Harmonic Pattern to the chart and we come to know that this area is a Potential Reversal Zone . Trading landmarks...
Our sweet pair USDJPY has been in bullish trend from the start of August, as per hourly chart. We had a joyous ride of higher highs. But things seems to be taking a turn. When Harmonic Pattern AB = CD is applied it reveals that we may have reached the Potential Reversal Zone. This possibility is further strengthen by the RSI indicator. The divergence on RSI shows...
Meezan Bank Ltd. , MEBL is rapidly growing Islamic Bank in Pakistan. In recent rally it has gained enormous price hike. In last few days it has not been able to cross the resistance level and has started showing the signs of weakness. Current harmonic pattern drawn on the chart clearly depicts the present level as PRZ, potential reversal zone. Keeping in mind that...
On hourly charts GGL has been in downtrend, thus, forming the bullish reversal harmonic pattern. It is worth noting that the RSI is also showing bullish divergence which is working as conformation to the harmonic pattern. To trade from safety it is suggested to take the trade when previous high, which is 10.70 is breached. Detailed trade plan has also been for the...
DGKC is a prominent Cement manufacturer in Pakistan with multiple production facilities. It has printed bullish harmonic pattern on hourly chart. Divergence in RSI is another positive factor. To further enhance the probability of the trade it is suggested that a position may be open at 53. Detailed trade plan is also prepared .
On EURCHF chart, on Daily time frame, the pair shows that after forming the bullish harmonic pattern the price has reached the PRZ i.e. potential reversal zone. RSI has showed a supportive stance here and to further insulate the trade from loss a safer point i.e. higher than the recent high has been suggested. A detailed Trade Plan has been chalked out in the text box.