Looking at the 4h Chart of the GBP versus Australian Dollar we clearly see a triple top. Price is always testing the 1.84714 zone. This gives us a nice indicator for a trend change on this chart. Looking for a short in this scenario we also see that the RSI is showing price weakness. Our take profit is at 1.61780.
Gbpnzd just retraced to the 50 rettracement zone on fib. We are expecting it to drop back down from its current price. Cheers!
I think this may be a good opportunity to catch some pips. Price has been hovering around the channel for a while. Good R/R on this trade which is why I'm tempted to take it more than anything:even with 2/3 positions its a really good opportunity. Good luck. Reasons for taking this trade daily rsi divergence bounce between daily channel weekly trendline could...
Looks like history repeats itself. touched the bottom trend line looking like its going to use some upward momentum towards the next resistance zone. Looking to get a quick buy in. Cheers !
Looks like its time for USDCAD to retrace dow. Touched a very strong support zone! Cheers
With recent dollar strength and treasury weakness, commodities are taking the hit. Here we have a classic bear flag in Gold A longer-term chart shows Gold in a large rectangular consolidation inside an ascending triangle (triangle on the weekly chart). A break of the bear flag should take price to the boundary of the larger rectangular consolidation, where price...
The Harmonic Pattern has already be completed and already showing signs of good momentum which is why I will be considering jumping in all the way down to the 61.8%, which happens to have a nice confluence with a long term point of control For risk and money management purposes, always determine a max. of 2% risk on every trade. For example on a $50,000...
61.8% Shark target hit (see Related Ideas section for original post) and from the looks of it the pair is on its way to forming a textbook Cypher pattern. Entry at the 78.6%, Stops below X, Target at the 38.2% of CD. My personal details: E: 1.3850, SL: 1.3750, TP: 1.4050 For risk and money management purposes, always determine a max. of 2% risk on every...
Good start trading week Good start of trading week at all, I propose the analysis version on this couple, because it is present in my weekly watchlist! Good reading to everyone. W1 = Starting from the weekly chart we can see that prices are supported by a long-term trendline, despite the double maximum on resistance (red) where prices have plummeted down, the...
NZD/CAD is a few months in an uptrend and what happened in last weeks I would call a correction because the market is giving us a signal for a beautiful buy! The drop of last weeks was slow and weak and now the market got to an interesting level where almost everytime market reacted in the past, so why would not it react now? Another thing which we can see is that...
USD/CHF is in the zone, where market almost always reacted in the past, so we can expect reaction now too! Moreover, there is Fibonacci 50% of the whole move down which almost always works as a place where market turns and there is a trendline too. After open on Monday I will try to find a good entry with a stoploss 50-100 pips and HODL for life. Important is to...
This can be really good trade as AUDUSD did breakout to upside from trendline with momentum
Good morning traders, XXX/BTC crosses becoming more and more interesting, which can be also a good evidence that XXX/USD coins approaching the bottom, so another interesting coin is Cardano (ADABTC) in which can see a sharp move from lows, labelled as wave 1, then we can see a clear three-wave (A)-(B)-(C) corrective movement into wave 2 and then the most...
Alrighty guys... Let me get this out of the way now: BIAS: Long-term, I'm still freaking bullish on ADA. If you are bullish on this MARKET in the long-term, then you have NOTHING to worry about with Cardano. It's a legit project with a lot of hype behind it, and it's just finding itself struggle because it was SEVERELY overbought and then dragged into a bear...
The red boxes on the chart represent the Asian session as I came to notice that during the LSE session the pair would either come to the 50% of the TSE range, or all the way down retesting/breaking the low of the TSE range. Of course the opposite could apply, retesting/breaking the high in case of a downtrend. Details are laid out on the chart. For risk and...