WBA potential trade setuplong term trend is trending down finding support at 80.21
looking to play for a mini breakout short term
ascending triangle on intermediate time frame
increasing positive volume pressure/ increasing relative strength
measured move up to around 82.32 resistance area
risk reward ratio= 3.25 stop at 81.15
remaining cautious as longer trend is to the down side
Ascending
Eur/Usd 28-03-2017 (AP)Hello Dear Traders & Welcome To Growing Forex
After The Major Downfall Back In 2015 The Pair Is Trading In A Consolidation With No Clear Direction.The Pair Is Forming A Double Zigzag As Of Now But Can Make Possible Move Of Triple Zigzag Correction.As You Can See In The Chart The First Wave Of Zigzag Correction Where Point C Falls Short To Complete Its Flat Pattern Therefore Indicating A Double Or A Triple Correction.(#Flat Correction#Wave C Falls Short Of Wave A #Indicating A Double Or A Triple Correction.)The X Correction Is A Zigzag Followed By Wave A Having A Zigzag Inside That Can Extend Up To 1.0978 Minor Resistance.If The Pair Breaks Above This Levels Next Target Would Be The 78.6% Of Swing High & Swing Low Which Is The Second Trend Line Above.On The Flip Side The Pair Can Triangle Correction (Flat + Any three + Triangle) But The Possibilities Are Less.
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Growing Forex.
AUDCHF Ascending Triangle Short ideaPrice has formed a ascending triangle with resistance being a major level
price has bounced off once before and if it bounces again now I'm expecting it to go down and break the lower trendline
A retest of the TL will add extra validity to the trade meaning it is a good idea to enter short
Ascending Channel reaching Strong Resistance-Reaching strong Resistance at 17.72
-Prices are trading in a Ascending Channel formation
-Prices have dropped from this level in the past
-Very likely prices will drop to approx 12
Watch for GBPUSDSince we've hit the Weekly resistance and hit the TL , we have have a ascending triangle. Beter wait for further confirmation. After the strong bearish move we have formed newer HL and HH on the daily. Either trading the bearish breakout or waiting for a bullish movement to enter whenever it should cross the weekly resistance. But for now just observing...
Bearish USDJPYDouble top at a weekly resistance level on the 4h chart. The daily is a fake breakout to the top therefore bearish movement expected. Entry would be 116.434 and the stop close above the 0.00% Fib level. The acending Triangle could be a possible retracement entry if it breaks out properly.
AUD/CHF short ideaCurrently watching AUD/CHF as I expect a downward move to break a multiple time tested trend line and 200 EMA. Price is forming an ascending wedge (bearish reversal pattern), MACD showing bearish divergence.
Still early to enter short, I will wait a break and retest of trend line and 200 EMA.
EURNZD Ascending TriangleA clear ascending triangle is developing on the 4H chart for EURNZSD
Usually ascending triangles breakout higher, but we will wait for confirmation of a breakout in either direction before entering a long-term trade.
In the short-term price is bouncing higher from the low of this triangle for a nice long towards the top of the triangle.
Can't break the ascending triangleIf it doesn't break out the triangle soon, this thing is going down
Sophiris (SPHS) Multi-month Ascending Broadening Wedge - BullishSPHS is in a multi-year ABW and with the latest partial decline, in addition to other important fundamental and technical factors, it will likely breakout upwards - To infinity and beyond!!
NZDCHF Short setup under channel line We have ascending channel against the very strong impulse. We gonna have very huge potential trade towards downside. I am expecting breakdown small corrective flag against the impulse in the channel. If we see breakdown of this small corrective flag then possibly we may see breakdown of this long standing channel. In case price breakup this small corrective channel to the upside then i will not look for buy. I am only interested for sell under the channel line.
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