GBPUSD Triangle BreakoutHi Traders!
GBPUSD is in a triangle pattern, and there is a possibility of a breakout to the upside above the trendline resistance
Here are the details:
There is currently some bullish momentum in the market due to the trendline support hold at 1.26123. The overall price action looks bullish; there are signs that the market could be oversold as the market has come a long way down in the past couple of days.
We are looking for a break and a close above the trendline resistance.
Preferred Direction: Buy
Technical Indicators: 20 EMA
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Trade safely and responsibly.
BluetonaFX
Breakouttrading
[Price Action#1] What is the Breakout and Breakdown?What is the Breakout?
Breakout is a price moving outside a defined resistance level with increased buying volume. The breakout traders enter the long positions after the price breaks the resistance level.
What is the Breakdown?
Breakdown is a price moving outside a defined support level with increased selling volume. The breakdown traders enter the short positions after the price breaks the support level.
DXY - The Leading Index For 2024Hello Traders, welcome to today's analysis of Dollar Index.
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Explanation of my chart analysis:
DXY (Dollar Index) has been forming a triple bottom all the way back in 2008 and has been rising ever since. With the recent break above the psychological $100 level, the DXY is once again confirming the bullish strength. If DXY doesn't break below this area, I am targeting new swing highs.
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I will only take a trade if all the rules of my strategy are satisfied.
Let me know in the comment section below if you have any questions.
Keep your long term vision.
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WARNING: This is not a recommendation to trade. Do your own research and make your own decisions.
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In a weekly candle it attempted a breakout from major supply zone and formed a doji candle above it which is a candle of confusion. Pice above dojo candle will be confirmed breakout or it can once retest in retest zone and than give a breakout
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Explanation of my chart analysis:
During 2022 Meta Platforms declined massively and dropped more than -70% all the way down to the previous support at the psychological $100 level. From there we saw a pump of more than 250% after which we could now see a short term pullback followed by new all time highs.
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I will only take a trade if all the rules of my strategy are satisfied.
Let me know in the comment section below if you have any questions.
Keep your long term vision.
Matic (Polygon) Preparing for Huge BreakoutI love this action from MATIC here. It's showing incredible resilience and strength against BTC and ETH.
After a beautiful move from 0.51 to 0.99, we're in a consolidation phase. Triangular consolidation that is serving as a bull flag is attempting to break out and when it does, we're going to rocket higher.
There is a lot of action in the parallel channel I've highlighted from 0.75 to 0.96. We should break this pretty easily once the triangle breaks.
Target: +32%
Stop Loss: -20%
Best of luck
- Sultan of Chart