PeterGHL

PeterGHL

Why Long China? "W" Bottom Bullish Divergence Flag Breakout

PeterGHL

Triangle Pattern Formation. 8 August 2024 - Positive Data from Unemployment Claims = USD Gained. As a result, EURUSD price action tested Fib between 50%-61.8% and rebounded above 1.0900. Overall Trend is Bullish as Price is above EMA 50, 100 and 200. MACD > 0, RSI > 50. Scenario 1 (Long) : Price Break Above 1.9340, TP: 1.1100 , SL: 1.0885 Scenario 2 (Short) :...

PeterGHL

I have plotted out the key levels for resistance and support. Nearest Resistance: 160.82-160.87 Nearest Support: 160.26-160.30 Resistance Turned Support: 159.83-159.91 Major Support: 157.70-157.98 Scenario 1 ======== If Bullish Candlestick formed above 161.20 (Bull Flag Breakout), a continuation of Higher High will be around 162.70. Scenario 2 ======== If...

PeterGHL

USDJPY made an attempt to breakout from symmetrical triangle pattern on 12/6/2024 before US CPI Data released. After US CPI Data released on 12/6/2024, the USDJPY dropped tremendously from 157.37 to 155.75 level. Today 13/6/2024, USDJPY climbed to sensitive rejection level 157.35 again. On 4-Hours Timeframe Chart, you can see a potential Head & Shoulder...

PeterGHL Updated 

A divergence is found at 30min chart. Price is making lower low, while RSI is making higher low. Overall AUDCHF is on uptrend as price is above EMA 100 and EMA 200. Support Level is at 0.5890 - 0.5850 range. Long Idea (Risk 1 : Reward 2.92) TP: 0.6120 SL: 0.5820

PeterGHL Updated 

EURUSD on Daily Timeframe had a huge correction, completing its double top formation. If you refer to 30-minutes time frame, the RSI is making higher low, while the price is making lower low. In addition to that, the MACD crossed over to upwards. Lower Bollinger Bands is closing and a bullish engulfing candlestick formed on 1-hour timeframe, suggest that...