The GBPCHF has completed a double top pattern on the daily. This is a possible opportunity to go short. Please, trade with due risk management and adequate position sizing.
AUDUSD has formed a bearish engulfing at resistance. This pattern indicates that price will likely go south. Time to short it. Do all due risk management and position sizing for the trade.
The cable, GBPUSD, has formed a double top as seen from the chart. This means that price is likely to go south next. This is an indication that short opportunities are evident. Thanks Do due risk management and position sizing before taking the trade.
I think the power move by the bulls is exhausted at the 107.04 resistance. Buyers cannot sustain their enthusiasm beyond that zone. If you are long, be looking out for signals that you should take profits. This should not be taken as financial advice but based on my interpretation of the market.
Price has formed a three bar reversal just at the touch of the 115.62 resistance. I believe it will break that resistance. Look at the volatility of the bars. Long when market opens and use proper position sizing and risk management. Price will go northwards and find resistance at the touch of the trendline or better yet, at the 117.07 level.
I think gold is going to make another try for the 1680.94 support. It has touched it four times already: 20th april, 21st april, 1st may, and 6th may. I wrote an idea about the break of the support on the 6th of May just before it touched it but the bulls came up with some resistance to the move of the sellers and price just bounced from the support. Price is...
Price has tried to break through the 106.62 resistance at the close of trading this week for USDJPY but I think that move is exhausted. On the daily, price is tracing out a downtrend and I believe that is how it will be for the coming week. Just hopeful. On the 4 hour chart shown above, price has confirmed a trend reversal, but the downtrend preceding it took...
A day before NFP, on Thursday, the aussie continued to strengthen against the dollar. On the daily, it showed upside volatility and broke through the 0.6459 resistance. A bullish engulfing bar was noticed which indicated that prices would rise further. With the US unemployment rate now at 14.7% and negative GDP growth of 31.22% expected for the second quarter,...
A large bearish engulfing has appeared at the touch of a downwards trendline on the usdjpy pair. This is an opportunity to short the pair. Follow trading plan for bearish engulfings i.e enter some belows below the low by placing pending order and sl at some pips above the high. TP according to how you want it. Good opportunity. This is the second time I am...
With the huge pin bar that just appeared and the fact that the 0.8689 support has been tested severally in recent times, I believe it's time to break that support. It might be time to go short here for some pips.
There is now a symmetric triangle on CADJPY. Price could go long if it reverses at the 75.46 support after retesting the trendline. Otherwise, it will continue in its southward direction. That test of trendline is important to price movement, along with the support.
A descending triangle on eurusd gives hints that prices will fall further, but it will take some time. Put this on your radar for short positions. I expect the projection to be towards next week.
A two bar reversal pattern has formed at a trendline support that was formerly resistance. Very significant pattern that has huge momentum behind it. A definite long opportunity.
A three bar reversal pattern has appeared on the USDJPY. Time to short. Place pending order on the low of the third bar as shown, and SL some pips above the middle bar's high. TP is the next support but due to space could not be shown on chart. Happy trading.
I think Gold will break the 1680.94 support level? Look at the strength of the bear bars. Look at their volatility. I think the support is no match for the bears, despite what the news says about it becoming a bullish market. I looked at the daily chart and for now the bears have momentum on their side though it has not closed. I just believe this. What do you think?
Major trend in going down. I won't go against the trend. Wait for retracement and SHORT and here come the retracement. At this minor retracement, I'm waiting for buyer to fade out. Now looks like buyer is exhausting. Pending order placed. Let's see,
-Large bearish candlestick broke the support level. -Support turn resistance @1.27216 -Major trend: Bearish -mini retracement @ 1.26808 - Stop loss above support turn resistance - Take profit at next history price level
AUDCAD is now sitting on key level of support which was a key level resistance. We have logical entry and target point with a potential 5 to 1 winner.