Ascending Triangle pattern on 1H Chart. NZD/USD and USD/JPY both in immediate term uptrends on their 1H timeframes as well which should provide minimal pressure from bears to hinder NZD/JPY from going higher should the pattern provide a buy signal with a break above most recent highs. Measured move for profit target comes in very cleanly at next resistance level.
EURUSD Friday Update
Although now flat on all pairs escept USDJPY, still believe EUR is going to weaken, just not convinced
there's enough impetus right now to force it back lower into new lows with any real power behind it.
It's either going to fail here, as it's back testing the neckline of the head and shoulders looming
above it - high in London at 1.1671, so...
Couple observations from this channel that I am seeing.
1. the top of each rally in this channel is exactly $1K from the bottom.
2. First retrace was $700.
3. Second retrace was $700.
I am keeping an eye on this pattern for entry points and targets for getting out.
This is my first TA. Please feel free to roast my chart, but I would rather hear some good feedback.
The market is overall bearish on the weekly timeframe as indicated by the strong blue trend line. We are currently touching it and sellers have been indicating that the trend line is here to stay for now. Looking on the daily chart, we do see a break into consolidation indicating a market neutral / slightly bearish stance on this pair. The daily consolidation zone...
We don't analyze this pair many times, but I noticed possible head and shoulders pattern forming on 4h chart. Head and shoulders is a reversal pattern that, when formed, signals the security is likely to move against the previous trend. Price just need to form right shoulder. Please keep watching for the updates.
Pattern has changed since my last idea on GBP/CHF last Friday.
Looks bullish until trend line resistance. (RSI H1 trend line broken as well to the upside).
Cheers
Jesse
Hello traders! Based on USD price action, we are expecting eurusd to break down the DAILY trendline and give us a short opportunity. Watch the price action in lower timeframes before entering the trade.
TRADE WITH NO EMOTIONS!
BCH seems to be repeating a pattern I noticed in many different cryptos, first and foremost of course in bitcoin itself.
I think this is how it will play out more or less. It is very unlikely that BCH will rally from here directly to new all time highs. More likely, it will rise step-wise and then make a plateau.
Bitcoin did this in November 2015, when it started...
