After the bullish pattern breakout, we will wait for a small pullback to make our entry.
We can see how the AUDUSD price has reached an important resistance at 0.800 and bounced. It formed a well known trend reversal structure, head and shoulders patean. At the same time it has broken the uptrend line it had formed since the March lows. For these reasons we think it may make a small correction to 0.7400.
According to our graphical analysis we see a good opportunity to go long right now, there has just been a crossover of averages that indicates a change of trend upwards in H2, the supports and resistances that we have drawn give us more reliability in the analysis.
Possible buy forecast in the next days. We will need: 1.- Small Resistance Breakout 2.- Bearish channel Breakout 3.- Resistance --> Support 4.- Throwback to support level 5.- Goals: - 0.9780 - 0.9940
If the price continues to fall without breaking the upper resistance at 109.3 our goal will be 107.5
We see how it has broken the trend line that marked the bullish trend, which was in force since last December. Now it has made a pullback to a small resistance and gives us a correct entry point, if it continues to rise the next entry point would be 1.2950 Goals: - 1.2600 - 1.2200
Today we have seen how the price lacked the strength to break the rising channel upwards, however, if it confirms the bearish breakout, we will be closer to the target we set in the original analysis.
If the price breaks the bearish trend line, after having formed a clear trend reversal structure such as the head and shoulders pattern and bouncing off this support with a moving average crossover, we will go long with a target of 0.7830
Here you have my trading plan, I expect the price will fall soon, if it breaks the rising channel it will mean the end of the bullish trend in this time frame. If that happens, we will wait the pullback for make our entry.
Here we have the perfect example of head and shoulders pattern. It is a chart formation that appears as a baseline with three peaks, the outside two are close in height and the middle is highest. In technical analysis, a head and shoulders pattern describes a specific chart formation that predicts a bullish-to-bearish trend reversal. The pattern has arrived in...
- The price has been dropping since last August, forming this bulish parallel channel. Last week it bounced when it reached the bottom trend line of the channel, at the same time that it arrived to a strong support level at 1680.00. - On Friday we saw an engulfing candle, this may indicate a trend change, however, there is still a lot of resistance to be broken...
EUR/AUD Trading Plan The currency has a bearish trend marked by falling channel which started in october. Right now is making a pattern, the shoulder-head-shoulder is a typical figure formed on charts and studied in technical analysis.This figure begins its formation with a peak, followed by a second higher peak and continuing with a third peak lower than the...
Bullish trade idea: GBP/USD is moving inside an ascending channel. It is now approaching the lower line of this channel and to the 200-session moving average. What we need to entry? - Right now the price is in a moment of indecision, we need it to break upwards the zone drawn at the same time as the bearish trend line it has formed in the fall. If this...
Here we are looking at TLT, it tracks a market-weighted index of debt issued by the US Treasury with remaining maturities of 20 years or more. Exclusively holding bonds with 20+ years to maturity, TLT is very sensitive to long-term interest-rate movements. If you predict interest rates to rise in the future, it is best to avoid long-term bonds that could lock in...
Last week we saw large declines in the US benchmark index. However, we saw a lack of strength to break down the bullish channel created over the last few months. It also closed the week with an engulfing candle indicating strength and recovering the 50-day average, this week could again reach all-time highs recovering 390 points.
Bullish trade plan 1.- Rebound in support level 2.- Bearish trend line breakout 3.- Retest --> Entry 4.- Goal --> 1.5545