StocknetInstitute

StocknetInstitute

Expecting to see some downside out of key level of 1.084 down towards a structural and trend line retest before continuation to upside highs. Message us if you need help with your trading.

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Price is approaching our short order where resistance meets the upper trend line of the ascending channel.

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We have topped daily highs and broken resistance. The pair has retested short term structure and found a lot of buyers around the 1.391 level. Next resistance levels sits around 1.42 - near the upper trend line of newly formed ascending channel on the 1HR and 4HR charts. The Pound is still very bullish and my bias remains long due to Brexit, lowering Covid rates...

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Long trade off long term descending trend line retest, and retest of 3x tested support level. We will be monitoring this trade closely due to the overall weakness of the Dollar and DXY.

StocknetInstitute Updated 

Short back into structure after liquidity grab from strong resistance, then long on retest of broken daily bearish trend line. The pound is still bullish.

StocknetInstitute Updated 

We closed our sell trade early and have entered another buy. This pair is still bullish and we are approaching previous key level of daily highs and resistance-turned-support. We are targeting the upper channel trend line and long term resistance sat around 146.75.

StocknetInstitute Updated 

Still bullish until we reach the top of the long term ascending channel. We have topped previous daily highs and retested that level.

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Short term buy from tested support.

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Long trade from our highlighted buy zone.

StocknetInstitute

Short term sell to support off .382 Fib and bearish trend line. We can then look for the market to reverse and break the falling wedge pattern. If the wedge and resistance is broken by a strong impulse, we can start to consider that bulls are taking control of the market.

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We will be looking at short term buys back into structure on the retest of broken bearish trend line and strong support. This should coincide with the rise of the DXY after liquidity is collected.

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Short term sell on retest of H&S neckline, 0.618 Fib and descending trend line.

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Our Buy is approaching our target, and coming up to trigger our Short trade from daily bearish trend line and 0.618 Fib.

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Short trade we have entered on retest of previous structure. We are still trading in a descending channel and we are wary this structure could be forming a bull flag on higher time frames. However, the DXY is still looking strong for the day and we could see a sell off after the lag of the EMA death cross. Targeting previous lows and a potential strong buy level.

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Long trade we are in from this morning. Simple bullish continuation after a pullback into a key level, targeting a liquidity zone of sell orders. DXY is looking strong and we are still pushing out of the H&S pattern.

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Still bearish on EURNZD. We will be going short from the 0.618 golden fib level - as price approaches and touches the long term descending channel.

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I'd like to see a SL hunt and a further push to my confluence area before making the next leg down. I feel there are still a lot of buyers in the market from the ascending channel trend line. Once we have had a liquidity purge, we could see this sell off from the 0.618 Fib and descending trend line.

StocknetInstitute Updated 

LONG THEN SHORT