On Thursday, US quarter-on-quarter GDP reported a 2.7% increase, over market estimates of 2.9%. The US dollar then weakened with USD/CAD moving down 2 pips to 1.3547, and USD/JPY falling 20 pips to 134.70. Meanwhile, EUR/USD declined 6 pips to 1.0595, as the Eurozone year-on-year inflation rate rose 8.6% as Mitrade has expected. GBP/USD dropped 31 pips to 1.2013,...
DXY D1 We may finally see this pullback towards 94.500 after the headlines and comments from Powell and the FED yesterday, lots of volatility surrounding the event, but as per the technical rundown... Solid bearish close with a majority wick fill. Fresh daily, and we are seeing resumed weakness, really need to break and close around 95.500 to break interim...
Ranges are repeatable trading chart patterns. Ranges are consolidation chart patterns that can breakout either direction. Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern. What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout...
Day Chart New Daily High was not made. Previous Day closed Bearish. New Current Trading Day has a Bearish bias. 30m Chart Bullish Pullback has an ascending trendline drawn underneath it. 1st Entry is a 30m candle close below trendline Fractal Low is at 1.2900 2nd Entry is a 30m candle close below support level 1st Take Profit is at support level of 1.2870 2nd Take...
Bear Flag is a Ranges style chart pattern that is a repeatable trading chart pattern. Bear Flags are a consolidation chart pattern that has a bearish directional bias depending on the previous incoming trend. Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern. What ever time frame you are trading this chart...
Setup chart with - Volume, Pivot standard, Sessions on chart. Step #1: Trade only at the London open or the 8:00 AM GMT. Note* We’re going to use the 15-minutes time frame and trade based off of the daily pivot points. Step #2: Buy at the market if after the first 15-Minutes we’re trading above the Central Pivot Point. Important Note * If after the first...
The Congestion Opportunities Strategy has just sold AUDJPY at 83.835. The system recommends entering this trade at any price between 83.678 and 83.992. The signal was issued because the 28-hour Relative Strength Index indicates that the AUDJPY may be overbought, while the Speculative Sentiment Index reading of 1.184 indicates that trader sentiment is not at...
The Tidal Shift Strategy has just sold EURCHF at 1.1306. The system recommends entering this trade at any price between 1.1293 and 1.1319. The signal was issued because our Speculative Sentiment Index has hit its most extreme positive level for the past 145 trading hours at 1.34469, which suggests that the EURCHF could be trending downwards.The 14-period Average...
AUDCHF is approaching our first support at 81.82 (Horizontal swing low support, 76.4 fibonacci retracement, 61.8 fibonacci extension) where a strong bounce might occur above this level pushing price up to our major resistance at 82.70 (horizontal swing high resistance, 78.6% fiboancci retracement, 61.8% fibonacci extension). Stochastic (55,5,3) is approaching...
Hey Traders, a Quick Short for GBPUSD would be perfect after USD-CPI corrections we are now ready short the alternatives in this case GBPUSD 60H Candle closes below our resistance zone (1.40640) which confirms the downtrend also Fibonacci Level - 0.618 plotting with our Intraday shorting Level perfectly at 1.40845 RSI/ROC (oscillator) Indicating Oversold and...