This is one of the best times to buy tron as RSI (14) was oversold on a 4 hour TF and price is now resting on trend line. If I was to wait for a trade entry signal, I would wait for price to close above the next resistance above it with my two TPs as shown not also neglecting my proper risk management.
On recent price action, price makes higher highs and higher lows an ascending channel for weeks. Price has just tested the resistance of the higher high and does not succeed in breaking it. On the other hand, the RSI (14) shows that the market is over bought and has come back to break through the it's 70 support level. I am expecting price to come back to test the...
On a 4 hour time frame, AUDUSD has been on a strong bullish run for the past weeks. I have indicated the section where price came back to test the support of the ascending trend line on a 4 hour chart. The zone I marked out are strong zones that price did not drop below after they must have formed their head and shoulder patterns. You can see where I marked them...
On a 1 hour chart, I have spotted a strong support zone that price didn't break through after its bearish movement for the past few days and I have also spotted a head and shoulders formation on the chart which I marked out inside the zone. Price has broken through the resistance of the descending triangle formation line towards that strong support zone. For...
On a 1 hour time frame, market has been in range for more than a month. The top resistance line has been tested more often than the bottom support which indicates that market may likely continue it's bullish movement. Recent chart shows a double bottom at SR line 1.64155 and a downtrend parallel channel has been broken. I choose to take a long if price hits SR...
Market has been in range for sometime now. On a 30 minutes time frame, price has broken a major resistance level and my RSI(14) is indicating the market has been overbought. Confirmation to go short is when RSI comes back to break it's 70 level support zone. Be smart with your stop loss and take profit folks.
On a 30 minutes timeframe, market is on a downtrend with a descending channel. Zooming in to where price is at, there are opportunities for price to form a double top pattern. I will go short if price come back to break the SR line 21.9870 and TP immediately if touches the zone. If price goes back to SR line 22.9228, the trade idea will be invalid.
On a 1 hour TF, market has been in range for sometime now. Sellers have been trying to break through a support zone therefore selling pressure is less than buying pressure on this range. Recent chart also shows a descending triangle. Could this be a sign that the market will go on a bearish run after it has broken the support of this range? 🤔
Price has come back towards resistance forming an ascending triangle. I choose to go long on a very short trade, setting my take profit as close as the next SR line and If price comes back to 160.22, the trade idea will be invalid.
On a 1hour timeframe, I have spotted double buttom on chart and my RSI is making a higher low. To get confirmation to go long, I will wait for price to hit 906 sats taking profit at 998 sats. Trade will be invalid if price comes back to 850 sats.
On AUDCHF 30 minutes chart, I can spot an ascending triangle on the chart which indicates that buying pressure is high. I get Take Profit at 0.65629 and if price comes back to hit 0.65270, the trade will be invalid (Stop Loss).
Horizontal line at 3.2623 is my area of value which is also acting as my SR line. Price was tested the support line and is now bullish. The red and green candle that tested my support line formed a morning star on the 30 Minutes time frame indicating that there will be a bullish movement. There were series of lower highs on my RSI (14) until the market was...