BTCUSD on a 60-minute chart had been ascending in a channel but now has broken down and has dropped below the channel support trendline. As to whether it will retest that trendline which is now resistance remains to be seen. However, the MACD lines are under the zero level and RSI lines under 50, lends support to a reversal at this time. Volatility is...
CADCHF - Perhaps another leg higher? CADCHF Checking higher timeframes at key support of weekly, monthly and daily we've got range breaking out, further upside could take us towards 0.70500 areas. However, keep in mind if we go back within this range I'd be re-thinking core long on CADCHF We had CPI came in as estimate, it wasn't a major move we headed to the...
$EURCAD - Will the trend be your friend or will this be a fade? EURCAD at an interesting area imo - A break to either direction. Don't forget to trade your own trade plan! Trade Journal
Lulumelon Athletica Short Term - We look to Sell at 329.26 (stop at 346.16) They reported better than expected earnings and the stock jumped up premarket. The medium term bias remains bearish. We are assessed to be in a corrective mode higher. Bespoke resistance is located at 332.00. We therefore, prefer to fade into the rally with a tight stop in...
WEDNESDAY - Half way through the week! GBPUSD - I like the long side for GBPUSD for months. It's a great trade that has had great momentum, I stuck to my trade plan, being disciplined is key and built long positions along the way - I am now scaling out of my positions! On my FX weekly I posted out to various groups I am part of - It's FREE to subscribe. It's...
I realize this is the hottest thing right now, and seeing it drop from whence it came seems out of the realm of possibilities. But it follows a pattern that happens over and over: Parabolic move/Gap. Bounce into FOMO buyers resitance, then fade. Wait for bounce into resistance then look for short positions.
After Gap moves like this, there is usually a pull back to half way, followed by a bounce into resistance, then a fade to fill the gap. Strong sell after bounce. Do not fall for the trap and buy.
Step #1: Wait until Tether Cryptocurrency price moves in a horizontal consolidation After a strong bearish trend wait until the market starts to develop a horizontal consolidation where the price moves back and forth without any clear direction. We need to see a perfect horizontal consolidation as part of the bottom rotation setup. The consolidation is the first...
NZD has strengthened across the board following the latest New Zealand election poll which places the ruling National Party in the lead with 46% of the votes and Labour behind on 37%. This is to me a much more a local issue and yet since AUD follows NZD closely, GBPAUD tanked too. Fundamentally, I am Bullish GBP and Neutral to Bearish on AUD, I'd like to fade...
I'm taking a small fade back up to recent structure within this Inside Bar