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50ma

EURJPY Analysis Week of July 24, 2016Weekly: Price is currently in a downtrend. The 20 moving average is currently being used as a dynamic resistance. We will use this towards our trading plan. The end of the week candle closed as a bearish pinbar. The size of that pinbar in relation to the previous bullish candle is not convincing that price is to continue its way down. Daily: Looking at the daily chart we can see a nice well formed channel. Price broke through lower and decided to get back into the channels range. This indicates that price has some bull movement before its continuation down. 4 Hour: Looking at the 4 hour chart we can see a nice structure forming. A good area to go long is between support 114.500 - 115.500. A safer route would be to wait for price to reach resistance 120.500 - 121.500 to short for its continuation down. Wishing everyone a good trading week!
Short
by Jnwsk
1
End of correctionThis large pitchfork describes price action for the last month and seems to be still in play. The last week downtrend correction seems now to be over and we are now headed back to the primary uptrend that's been in play for the whole 2016. Three different items point to this: - We visited the lower part of the pitchfork and the daily candle is now forming a hammer. - Today's wick just touched 50MA and is now closing above. - There is a two step bullish continuation pattern that is now complete, marking the start of a new bullrun that will finish somewhere above 1300 at the upper part of the channel.
FX:XAUUSDLong
by purpurato59
EURUSD: BEARISH PENNANT FORMATION ON 4 HR !!!Hello Traders, Here we have a VALID BEARISH PENNANT formed on FX:EURUSD . This type of pattern is usually formed after a strong selloff, where after the strong bearish move, some sellers are taking profits while others are joining with the downside move. This eventually leads to a consolidation that is presented in the form of a BEARISH PENNANT . Do keep in mind that this is a CONTINUATION PATTERN and therefore we expect further downside move AFTER getting a valid breakout. NOTE #1: If we get a break and close above 61.8% Fib level for XA leg, than that would be the 1st signal for this patterns invalidation. The 2nd or the main signal would be a break and close above the X point of the pennant. Also a break and close above 50 MA would add extra confirmation to the patterns invalidation. NOTE #2: A breakout to the downside would be MORE favourable if we get a break and close below the 61.8% Fib level for BC leg. That would confirm a further expected downside move, potentially up to the target. Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. Good luck everyone :)
Short
by moneymaking
15
BR retests $50 and continues uptrendBR is a low volume stock I would not trade. But it is trending well so may be of interest to those of you who are happy/able to consider a position here. This stock has been trending fairly well since breaking out of the 2007-2013 consolidation at just above $25. Price action can be a little unpredictable but this is to be expected with a low volume and fairly low priced stock. While price continued to rise in 2014 it did so slowly due to several deep and prolonged pullbacks. Since the beginning of January 2015 the uptrend has again become established. The daily 50ma is acting as support and price has passed and retested the $50 half figure zone. Yesterday saw a breakout bar on higher volume so we should expect to see further strength to the upside.
NYSE:BRLong
by iAnneTrader