Wait for trend line break and higher high confirmation.
Hanging man at 61% fib retracement. Price is also in line with a strong line of resistance.
Charts quite messy. Trade down to new lows. Looking to enter after a more apparent breakout. May take profit 80 pips in.
Trade the falling wedge breakout Failure to close below a key level and the 61.8 Fib Wicks don't lie
Rejection of the 1.4000 region
I think price will bounce up from this price zone, possibly to 1.3400.
Looking at the NZDUSD its been bullish for a over a year but I think the bulls are loosing power and the bears are starting to take over. From a MONTHLY perspective... The most recent candlestick has a SHOOTING STAR characteristic. Price attempted to break the weekly resistance at 0.7450 but failed and price came back down. Price is below the monthly resistance...
Looking like a denied breakout from 200 MA, into a hanging man reversal candle.
I've had a short bias on this pair for 2 weeks now, with a few successful smaller TF trades (and 1 losing trades). As you can see, on the Monthly TF we're also showing signs of bearish pressure. Monthly - Hanging Man formation complete - Dragonfly Doji almost complete with 3 days trading left this month) - Key support turn resistance Weekly - Bullish...
ULTA is in an obvious up trend on the weekly chart. Sort of sideways on the daily chart with an RSI making lower lows and lower highs. But if you put a lot of stock in candle formations then you might be willing to risk some money to the downside. Bearish formation in Friday's candle on the daily (engulfing candle) within a one on the weekly (upside down hang...
Being in a daily uptrend, USD/CAD has strongly rejected a previous support level (1.0860), and the 0.5 and 0.618 Fibonacci level in its pullback and closing on Friday 29th August 2014 above the 50ema as both an outside bar and a low test giving well-founded signs of imminent bullish continuation. A drawback to this trade would be that the weekly chart is still in...