Today’s trading analysis is coming from the German Dax market. It has reached the level that I was waiting for it to reach. I wrote about it lat week on my website. The daily candle is a bullish rejection, close to a pinbar. The resistance level from a previous high at 12,950 has been tested and rejected. I would like to see a rejection of the 13,000 level, as...
Price has dipped below the previous low. That is what I was looking for more or less. Today, there was a mother rejection candle that formed on the daily timeframe. On the 4H I have spotted a two-candle bullish engulfing pattern. All those patterns are indicating that the bullish enthusiasm is returning slowly. Coupled with the bearish rejection from last time,...
Above is the Daily chart of EURUSD. First, I am looking at the EURUSD daily chart. It looks more bullish than bearish. There is a major support level just below the current price level. The candle from yesterday is close to an inside day. If today’s candle closes above the close of the red candle, it will engulf if together with yesterday’s bullish...
Today’s trading analysis is coming from the AUDUSD pair. It looks like we are seeing some exhaustion here. There is a major support level at 0.7810 which has been rejected. In an ideal world, I would like to see the price going below this level and then forming a rejection. Although, there is a pinbar on the daily chart, I feel slightly hesitant about this...
Looks like EURUSD is bouncing off the support level
Today’s setup is coming from the EURUSD. Although, the situation looks similar, I feel more convinced that we might see an uptrend continuation tomorrow. There is a 4-candle bullish engulfing pattern on the daily chart. It occurred just above a minor support level. I am looking to possibly enter in a long trade at around 1.1975. My first potential target could...
Are we going to see a breakout or a reversal? Anyone
Looking at the daily chart is showing us a bullish rejection candle or a pinbar. It has formed just below a major multi-month resistance area.
There is a bearish engulfing on the GBPUSD chart. It might be suitable for a small short trade between the minor resistance and minor support
Looks like USDCAD is hitting support level. Be careful- possible reversal
Today, the price met a multi-month resistance level at 1.2000 and finished the day rejecting the highs. EURUSD Trading Setup The daily candle that printed on the chart is a pin bar. There was a strong bearish reversal during the US session. The intraday chart is also showing some signs of weakness. The 4H chart topped the day with an inside bar. I am expecting...
Looks like NZDUSD is ready to form a bullish engulfing on 4H. Waiting for a possible long setup
Looks like Gold is bouncing back for the second time since my initial entry. Time to add up
In this trade, I am looking to continue the long trade. Bullish setup
Checking back my article from a week ago... I could not have been more correct in anticipating this move. Check it out HERE