Price is currently within an ascending channel. It has formed a bear flag with a rising wedge pattern approaching the 61.80% level. Expecting a bearish reversal on this pair for next week.
This indicies has a high potential to make a down move/Wave/ on more time,from the technical side. On the fundamental side Covid-19 pandemic 2nd wave is about to start around the world. Anyway I'd like to suggest you a short position on this instrument, of course you need a risk to reward ratio and risk percentage. Good Luck
First Graphene Limited - Currently in a trading halt, and coming into the new week with positive news could see them break this descending triangle and break the 12 month downtrend. 1. More positive news out of the trading halt will see buyer momentum and volume return to the market. -Increased Volume & Momentum -Double Bottom off .382 Fibs (Strong...
GALAXY RESOURCES (ASX:GXY) Has been locked in a fierce downtrend since Dec 2017 but has just broken out!! Targets As Below. 1. Break of long term downtrend and Volume returning to the market will see GXY build new Market Structure and Create Uptrend Potential. -Break 29 month Downtrend -Buying volume returning to the market -MACD spreading on Weekly and holding...
Looking for break of low area at .6999 AREA. SELLSTOP at0.67987. 12.5 pip stop loss 25 pip take profit.1:2 RISK to Reward. I am personally risking 1.5%. Check out my YouTube at PAPICHULONOE.
Bitcoin - After 72 days in an Uptrend and crushing 180% is this time for a Major reversal? - 180% Rise with no Major Retrace - Daily Uptrend Broken - Failed to Break Major EQ at 9250-9300 - Failed to break Center BB - MACD continuing to spread - Selling Volume returning to the market - RSI Neutral and has room to move - Short entered with stop loss above...
Ascending triangle: Despite its reputation as a reliable chart pattern, it is a mediocre performer. Upward breakout is 63% of the time and 62% of the way into the triangle on average. From Thomas Bulkowski research. Further details in the link below: thepatternsite.com Two red arrows shows two past death crosses (50-day MA moving below 200-day MA). Still in...
ASX200 daily- Rising Wedge + Failed to break 38.2% Fib retracement. According to Thomas Bulkowski "Rising Wedges, especially for downward breakouts, are some of the worst performing chart patterns. Downward breakouts have an unacceptably high failure rate and small post breakout declines. Also, throwbacks and pullbacks occur 72% of the time." Breakout for...
HI NEWS: -AUD/USD appears to be stuck in narrow range following the Reserve Bank of Australia (RBA) Minutes, but the exchange rate may exhibit a more bearish behavior over the coming days as the Relative Strength Index (RSI) snaps the upward trend carried over from the previous month personal opinion: -Depending on the demand, we expect another rise in the short...
HI -The Australian Dollar turned lower after testing trend resistance guiding the currency downward against its US counterpart since the start of the year, as expected. Prices have now broken rising counter-trend support set from the March swing low. That suggests that the dominant bearish bias is set to be reasserted after a corrective recovery has run its...
ASX 200 index (daily) testing resistance at the 20-day MA
Looking at my chart, it's clear that since the beginning of the chart to Dec '13 has been in an overall ascending wedge with two notable deviations. One deviation in 2000 where a short sharp descending wedge took the AUD to the lowest point in 2001 before finally getting back to the ascending wedge by October 2003. In 2008 it again briefly dropped during the GFC...
This is a key position. Shorting this means that one is willing to take a controlled affordable loss above the amber ATR line (there is no formula to work that out). This is a trend following set up - so there are no targets.
Congrats on our previous 1 month swing buy to 1.63000. However now Back to resistance for another massive opportunity. so follow with current risk managements corresponding to law of support and resistance prior to neither support and resistance been broken then sell to C. following a buy to D following ABCD Pattern!
As we made 17 percent in our 3 weeks trades (Base profit. We use 10 to 20 leverage in our trades), we are giving another midterm plan for you. Follow to hear more! Entry: 0.906 Stop-Loss: 0.914 Target: 0.885 Have a nice week!
Hello Traders, Looking at the chart we can see price has been in a well defined channel for the last 10 years. It has taken that long for the price to crawl back up to the previous 2007 top and I mean crawl. From an Elliot Wave perspective these are some unhealthy looking waves with deep retracements each time basically invalidating the EW principle. Either way,...