USOILSPOT is rising towards an overlap resistance that aligns close to the 61.8% Fibonacci retracement level. Price could hit the sell entry at 70.942 and potentially reverse to drop lower. Take profit is at 68.194 which is an overlap support. Stop loss is at 73.357 which is an overlap resistance.
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Price is moving towards our sell entry at 1.0960 which is an overlap resistance that aligns with 61.8% Fibo retracement. Our take profit will be at 1.0916 which is an overlap support level. Stop loss will be at 1.1005.
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Price has just reacted off our sell entry at 182.98 which aligns with a -27.2% Fibo expansion.Our take profit will be at 181.96 which is a pullback support that aligns with a 61.8% Fibo retracement. Stop loss will be at 183.38 which is slightly above with a -61.8 Fibo expansion
Furthermore, there is bearish divergence between the indicator and price, indicating a...
Price reversed off the overlap resistance at 1.2803 and fell all the way to the take profit target of 1.2728. What was important in this analysis was the stop loss placement and the take profit placement.
In this video, Desmond covers how you can optimise your stop loss and take profit placements in your trading so that you lower your chances of prices spiking to...
Price is testing major resistance at 0.6806 which is an overlap resistance that stretches way back. It also coincides with the 23.6% Fibonacci retracement and a descending channel resistance.
If price were to reverse from here, we could see it drop all the way to support at 0.6626 which is an overlap support and 61.8% Fibonacci retracement.
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Price is testing a major support level at 1.2684 which is a pullback support + ascending support + bullish ichimoku cloud. A bounce from here could see prices rise up towards the take profit target at 1.2830 which is a multi-swing high resistance.
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EURUSD is falling towards an overlap support that aligns with the 50.0% Fibonacci retracement level. Price could hit the buy entry at 1.08471 and potentially reverse to bounce higher. Take profit is at 1.09116 which is an overlap resistance. Stop loss is at 1.07928 which is an overlap support that aligns with the 61.8% Fibonacci retracement level.
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USDJPY could fall towards an overlap support that aligns with the 38.2% Fibonacci retracement level. Price could hit the buy entry at 142.251 and potentially reverse to bounce higher. Take profit is at 143.871 which is a recent swing-high. Stop loss is at 141.272 which is an overlap support that aligns with the 61.8% Fibonacci retracement level.
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Price is falling towards our buy entry at 0.6633 which is an overlap support that aligns with 61.8% Fibo retracement. Take profit will be at 0.6707 which is an overlap resistance level. Stop loss will be at 0.6574 which is a pullback support level
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Price is raising towards our sell entry at 1939.64 which is an overlap resistance that. Our take profit will be at 1924.59, our take profit will be at 1924.59 which is a pullback support level. Stop loss will be at 1954 which is an overlap resistance level that aligns with 78.6% Fibo retracement.
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Price is pushing up towards our sell entry at 1.3245, which is the 78.6% fibo retracement level.
Stop loss will be placed at 1.3279, which is at the body close of the overlap support level, and now acting as a resistance. Take profit will be slight above the 38.2% fibo retracement level, at 1.3197.
Additionally, price is within a bearish descending channel,...
Price is falling to our buy entry at 1.2674, which is a pullback support level that aligns with the 38.2% fibo retracement.
Stop loss will be at 1.2534, which is slightly below the 61.8% fibo retracement. Take profit will be at 1.2827, which is at the body of the candlestick at the resistance level.
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EURGBP could fall towards an overlap support that aligns with the 61.8% Fibonacci retracement level. Price could hit the buy entry at 0.85654 and potentially reverse to bounce higher. Take profit is at 0.86309 which is an overlap resistance that sits under the 38.2% Fibonacci retracement level. Stop loss is at 0.85219 which is a recent swing-low.
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USDJPY could fall towards an overlap support that sits above the 38.2% Fibonacci retracement level. Price could hit the buy entry at 142.099 and potentially reverse to bounce higher. Take profit is at 143.904 which is an overlap resistance. Stop loss is at 141.327 which is an overlap support that sits above the 61.8% Fibonacci retracement level.
Please be advised...
Price bounced off the 1.2683 support we identified and rose nicely to our take profit target at the 1.2832 level. In this review, we touch on why we used the 1.2832 level and not the swing high at 1.2850 - a lot of this is down to trade management and take profit placement.
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We're seeing price approach a major support level at 1.2680 which is a historically strong support level. It also lines up with Fibonacci confluence of 38%, 50% and 100% (projection). On top of that, there's a nice bit of bullish ichimoku cloud holding prices up.
If price were to bounce from here, we could see it inch up towards the 1.2832 level which is the...
Price reversed beautifully from the sell entry level we forecasted at 0.8988 and has reached the take profit target of 0.8908. The important lesson here is to place your take profit before a key level (vs right at the key level). As you can see in this video, price touched the TP level and took off in the other direction - just missing this crucial bit of...
We're seeing USDCHF test a key resistance level at the 0.8988 level which is a strong overlap resistance + 38% Fibonacci retracement and a 100% Fibonacci projection. On top of that, there's a bearish Ichimoku cloud that is contributing to prices being pushed down.
If a reversal occurs from here, we could see it drop towards the 0.8907 level which is the recent...
