NZD/USD and all other NZD pairs have seen a bullish trend over the past week. It seems this trend is correcting for the time being. The RSI was severely overbought at the moment it hit the trend line, making the reversal from the resistance more believable (and tradeable) Support 1 would be the most conservative target for a short trade. In case bearish NZD...
GBP/NZD just exited a wedge in which it has been for over a year. My guess would be that, especially with the volatility of the last week, GBP/NZD will continue falling the coming weeks. Consider Support 1 and Support 2 as your profit targets, with Support 1 being the most conservative.
EUR/NZD has exited the wedge where it has been inside for all of 2020. If today's volatility will remain, expect the price to drop even further. Support 1 and Support 2 are great areas for short- and long-term targets.
We've all seen the massive bullish movements of the markets today. And luckily for us, volatility means new chances. In my previous post I argued that the SP500 was prone for a correction, especially after the massive rally it had since the election. Little did I know about today: a corona vaccin. Currently the SP500 is above the (logarithmic) trendline that it...
In my last post I predicted that Link would follow the upward channel. It seems that Link will follow this channel at least one more time: the upper resistance held strong and major selling pressure emerged. Also, the RSI on the 4H chart shows that Link is massively overbought at the moment, signalling a short-term correction. The green area would be a great spot...
A few days ago I made the preditction that the SP500 was likely to bounce from the lower trend line towards the uper trend line. Suprisingly that prediction came true within 2 days. Now I see a new reversal on the horizon. The SP500 has hit its upper trend line and is falling again. The fact that the RSI was majorly overbought makes the reversal even more likely....
USD/JPY has broken through its 15-month support, signalling the completion of the falling wedge pattern. Today it broke through the support with sufficient force to signal a new downtrend. Consider Target Area 1 as the most conservative target in the coming weeks. If it succeeds to break through this support, consider exiting your position at the second target...
LTC/USD hit the upper bound of a bearish channel, as well as the MA200. The two signals reinforce eachother making a reversal more likely. Consider the red area of support as a place to unload your shorts.
GBP/AUD convincingly broke through its channel, which held strong since early September. Accompanying this break-through, a bearish cross of the MA50 and MA200 (so called death cross) happened a few bars earlier. Target 1 should be an area where you want to unload some of your positions, in case the price will rebound from the support line. Target 2 could be...
We can catch 100pips here, fast sell before next bullish wave, good luck :)
Strong support and resistance that have been tested multiple times. Price has just bounced off the resistance which signals a move towards the support.
My 4H analysis won’t change since the last COT Gold report came out bullish and no changes that could indicate a short momentum are noticed. Since the 1st of July we are in a closed triangle structure where the upper and bottom trend lines are respected multiple times. A third rejection on the bottom trendline will be a good indicator that the price is ready to...
🔸 DAILY CHART EXPLANATION: . . 🔸 Price has been consolidating on a triangle for the last weeks. . 🔸 As this pair is on a downtrend (Descending Channel), we consider that is has Bearish Potential. . 🔸 In case of a breakout to the downside, the target of the move would be the lower trendline of the Descending Channel. . 🔸 Will look for a lower timeframe Bearish...
_______________________________________________________________________________________________________________________________________ Hello traders investors and community. The last days we saw bitcoin falling down from 7500 and establishing a former support base in a channel which will either break down or up....