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DAX 30 at Risk of Trading Lower on Profit Taking, Brexit VotePer the pin bar candlestick, profit-taking should continue as long as the index trades below yesterday’s high of 12832.1, and the DAX index might reach the 12436.5 level, which is the 38.2% Fibonacci retracement level of the bull leg from the October low to high.
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Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice.
Watch out for USD/CAD - Channel provides buying opportunity?Hi guys, the USDCAD pair is trading inside a rising channel and has reached the lower channel support in today's trade.
The level aligns with the 61.8% Fib level, and the RSI is printing a slight hidden bullish divergence (the RSI bottomed before the price.)
The 4-hour candle looks like buyers are gaining power again.
Follow this pair, it could reveal a buy opportunity.
EUR/USD Daily Update: Bull run continues for second day.EURUSD has continued its bull run for the second day, after breaking out of a bullish wedge pattern and reaching near a horizontal support zone.
From a technical standpoint, the higher highs on the daily chart suggest that an uptrend is forming.
Yesterday's dovish testimony by Fed's Powell put selling pressure on the greenback as markets place a higher possibility for a rate cut.
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Bitcoin to $5600 ? **BULLISH**Bitcoin seems to be looking slightly bullish at the moment but its never safe to catch a falling knife. Strong confirmations are good to know if its a real trend or a bull/bear trap.
In this situation, Bitcoin seems to be forming an Inverse Head & Shoulders with target leading up to price levels of $5600. This target has strong correspondence to a relevant and important interim support level that was hit while shorting on the way down from $6,000 causing the $5600 range to be a Key Level of Significance.
Things to look for:
If it breaks $4400, I will have a position open to enter at this range with a stop loss around $3800 - $3900
Good luck trading !
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This Weeks Three Top Stock - Blended Price Chart for PerformanceThese are this week top three stock plays with a custom chart showing how they all move going forward. These are expected to rally within a 21 day window.
EURAUD longHello everyone. As you may know, this channel has been updated.
At first, this channel was run by 1 person. From now on, there will be two persons who will run this trading group: t.me
What can you expect from us?
-A watchlist video. This will be uploaded every Monday in the morning.
-Trade setups. We only share high probability trade setups.
-At the end of the week we will upload a market recap video. This means that we will look back at the trade setups we have discussed in the trading group.
In the future there will be some sort of mini lessons. We will keep you updated on what this is going to be.
Furthermore, we have created this Equiy trading community group, because we want to create a community in which you can ask us questions, but also other people in the trading group. In that way we can grow as a community. We will share the link to this group in this message: t.me
So, we hope you will enjoy this whole idea and that we will grow together!
Team Equiy.
EUR/USD reaches potential buy zone on D1The EURUSD pair seems to have difficulties breaking below the 2018 low of 1.1176, printing bullish candlestick patterns in the last two days.
Even though the pair has been trading in an overall downtrend for a few months now, notice the bullish wedge pattern in forming. Sellers are losing steam in pushing the price lower to large extent.
In addition, the pair could be finding support at the 61.8% Fib level, drawn from the 2017 low to the 2018 high.
Given the overall downtrend which is still active, I am still reluctant in placing a counter-trend trade, although the pair could make a short-term up-move to the upper wedge line.
For a longer-term buy setup, we need to wait for a break of the wedge pattern to the upside (above 1.14).
NZDCAD buy opportunity, SHS formingThe NZDCAD pair broke above a long-term trendline which has started in late 2016 and formed what looks like an inverse SHS pattern.
A daily close above 0.9300 would mark the pattern as triggered and confirm a buy setup.
This week's RBNZ rate meeting will likely create volatility in NZD pairs and either confirm our bullish bias or put the trade on hold.
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NZDUSD Potential Buy Setup on H4Hi traders! Here we have a beautiful setup on NZDUSD. After the initial strong up-move following the Fed meeting, the pair gave back its gains to trade near a confluence of a horizontal support and trendline support.
The current H4 candle shows that buying momentum is building up, which could send the pair further up.
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USD/SEK Potential Buy Setup on D1After a strong down-move following the dovish FOMC meeting yesterday, USD/SEK seems recovering at an important demand zone.
The pair is trading inside a rising channel and has reached near the lower channel support, which aligns with a horizontal support and the 61.8% Fib level.
Today's candle could provide the needed confirmation to enter with a long.
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USD/CAD Technical Buy Setup on DailyThe USDCAD pair is forming a very nice buy setup on the daily chart, after recently finding support at the confluence of a rising trendline and the 61.8% Fib level (February 27).
In March, the pair broke above a triangle pattern and completed a pullback to the upper triangle line.
The current price action is extremely interesting as a long confirmation, given that the pair formed a marginal higher high and retested the 61.8% Fib level in today's trade (the Fib tool with the semi-transparent background).
Today's candle is forming a strong pinbar candle, which suggests a strong rejection of prices below 1.3300.
Tomorrow's FOMC meeting will likely create some volatility in the pair, which is a short-term risk for buyers.
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CADCHF TECHNICAL SET UPWe broke and close a rising wedge continuation pattern on the last H4 candle close. Right now we are retesting the support trendline of the wedge. If we see a LL-LC after the retest (you can drop a timeframe to the H1 to look for this), expect price to move toward the targets. Move SL to B/E after TP1 is hit.
Goodluck!