-Previous supp turned resistance -Global turmoil in equities -Risk off -Yen strength -200 sma -below cloud and lagging line confirming
potential move lower is comingg. shhort on break of trendline. Also two 8 hr dojis
Short on support break (channel) can be a nice trade. Thought to share
I think chart explains everything with bullish engulfing candle
1. 5 waves up . now looking for correction 2-massive bearish engulfing candle 3.looking for retest of head and shoulder neckline 4.zooming into 1 hour chart, looking for a small pullback to enter short. min 300 pip profit target.
Just watching for potential trade...Very clear support and resistance trendlines though...Thought to share.
Lots of rejection as seen from daily chart with pin bars. Shorting usdzar into fomc is not a bad trade especially is today's candle is red. Need a little wide stop though as liquidity is thin these days.
Bull flag formation. long on break of trend channel
Huge divergence on monthly chart on rsi and stoch. Daily chart shows clear break of trendline.