Rules of Engagement. 1. Wait for second retest - if retest does not happen, then trade is void. 2. Mind your Risk: Reward - Keep it as low as 2% and not more. 3. Stop loss - Above previous high
We have a potential inverted head and shoulder if the neckline breaks. If it does, we can look to gain 25% and expect a deeper correction to previous major support. I am expecting another bitcoin rally, which will bring more blood to the alt coins. What are your thoughts? Trade with care.
We've been sideways for a few months now i'm soon thinking price can breakout !
We spotted a potential reversal trade in the making. It is too early to tell but keep an eye on the GBPAUD to head to the downside following this long bullish uptrend. Look at the RSI as confirmation but this could happen quick!
A very Clear Bearish Divergence Signal.
In the 1D chart, price has reached the top of trendline indicating there may be resistance in this key area. I will be looking to short this to the 61.8% retracement.
As we can see in the chart it has broken the lower trendline. Entering short at current price with TP at 61.8% retracement and SL above previous retracement.
Usd-Sgd Sell Pin Bar Setup at Trendline confluence and EMA confluence
AUDJPY is looking to reject a retest of its downwards trendline. If successful, we expect a continuation lower towards the 200 MA, and then possibly the bottom of the pennant.
EURJPY is looking to reverse down into another leg within its current flag pattern with candlesticks finding resistance. After that we expect a major correction up through the flag pattern towards higher resistance. If price does not fall as expect now, we await a break through the flag pattern for an entry long.