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AUDCAD testing strong resistance, potential for a reversal!AUDCAD is testing strong resistance at 0.9897 (Fibonacci retracement, Fibonacci extension, Elliott wave structure) and a strong reaction could occur at this level to push prices all the way down to major support at 0.9762 (Fibonacci retracement, horizontal swing low support). Stochastic (55,5,3) is seeing major resistance at 97% where a corresponding reaction could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by easyMarkets
GBPJPY now right at resistance, watch for the potential reversalGBPJPY is now testing major resistance at 147.40 (Fibonacci retracement, horizontal pullback resistance) and a strong reaction could occur at this level to push prices all the way down to major support at 143.40 (Fibonacci extension, horizontal swing low support). Stochastic (55,5,3) is seeing major resistance at 96% where a corresponding reaction could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by easyMarkets
1
USDJPY approaching strong resistance, watch for the reaction!USDJPY is approaching strong resistance at 110.61 (Fibonacci extension, horizontal pullback resistance, Fibonacci retracement, Elliott wave structure) and a strong reaction could occur at that level push price all the way down to major support at 109.38 (Fibonacci retracement). Stochastic (55,5,3) is seeing major resistance below 97% where a corresponding reaction could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by easyMarkets
1
Trading levels for 06/06/2018Hey guys here are the trading levels for Wed, i hope you are finding some value in this levels and at the same time taking advantage of the trades that this levels can offer. I had a good day on Tuesday, 3 trades, 2 of them hit the T1 and 1 of them hit T1 and T2, you can always check the trades in the comment section of every post. Moving forward i have to say that if you are a day trader you have to be ready to change bias in a matter of minutes, you have to be able to switch gears and understand whats happening in the market. I appreciate your support and we will answer most of your questions in our weekend post. PLAN YOUR TRADE AND TRADE YOUR PLAN K.R.S.
CME_MINI:NQ1!
by UnknownUnicorn253835
ETH/USD - Levels To BuyWhat's up traders, I hope you're all having a wonderful weekend. Let's analyze ETH/USD on the 1D chart Ethereum is falling at a side-wards resistance line on the daily chart at 625 level. Price is also under 20 moving average resistance simultaneously. The averages are still separated suggesting the trend is still down, so we need to be mindful of this before immediately assuming to take a long position in the future. There is 2 outcomes for Ethereum at this stage, which I have outlined below: - Ethereum falls from current levels into a key hidden support level at 470, before retesting and breaking to the upside. With this scenario breaking out of structure is more likely than the below scenario because we are nearer the side-wards resistance level and less momentum is needed to breakout. - Ethereum continues current fall into the lower horizontal support zone at 356, before bouncing to the upside. With this scenario it may be slightly harder to break out of side-wards resistance line because it would take much more bull participation and consistency to successfully breakout. Although scenario 2 is better for short term upside, I'd rather see scenario 1. Why? Scenario 1 relies on a hidden support level that isn't as strong as the level that would be tested on scenario 2. I will update this analysis when I receive above 40 likes.
BITFINEX:ETHUSD
by TomProTrader
11