Centered Oscillators
Previous Identical buy off supportLooking at an identical buy set up with support and pivot off .68900.
MACD and signal are set to cross with RSI shooting out of oversold zone. TP at first resistance with TP2 occurring only with a breach and close of .69300.
Attached is my previous idea on this pair which ended in great profit.
Next stop 26 K (Potential direction sentiment to target)Previously 24k was a clear strong support. Once breached the pair found resistance at 25000 with multiple rejections.
The trend I noticed once a key level breaks is a push to the next psychological whole number (22 k to 23 k, 23 k to 24 k, and 24 K to 25 k). I mapped out my trend pattern sentiment to visualize what I see.
We may see some volatility between 24 K and 25 K until a significant breach of 25 k occurs. When these levels are breached the volume of the trend trading increases significantly.
Please comment with thoughts and ideas. Thank you.
Potential falling out of wedgeThe pair has been in an ascending wedge and has hit some straight resistance following a drop below support. We have some consolidation so for better sentiment towards a drop wait for a breach and close below 1.06600.
RSI is finding resistance as presented in chart and MACD/Signal set to divert.
TP and SL as shown on chart and pay attention to entry.
Please comment with thoughts and ideas. Thank you.
Potential sellThis is a two entry sell analysis with an entry rule.
Although GBP as found some momentum as a whole, CAD has been looming right behind in its showdown with 4 weeks of strong positive economics which is expected to continue through the start of 2021.
The entry rule here is clearly shown on the chart. A break and close out below the support of 1.73500 for one who practice strict risk management rather than sell stopping at 1.74000 ( which I’ll do on my demo account 😂).
TP first sell at support shown and if the support breaks allow the second sell to continue to second TP. Close out second sell if there is clear support at 1.74000 and pivots look for SL.
RSI and MACD are currently correcting towards selling points for some technical sentiment.
Please comment with any thoughts and ideas. Thank you.
Long term sell off to low ( Strict entry rule)After a top retest of near 2.00000 in March the pair entered into a sell off long term short trend.
We have breached levels that sentiment a continued drop into 2021 to match lows. It is difficult to forecast how low the trend will breach however due to global economy one would sentiment retesting low of lows.
Presented is the day chart. With a steep sell off I sentiment a retest oft at least 1.54000 as long as there is a breach and close out below 1.59150.
A safe entry point to ride the trend would be 1.59100. MACD divergence in play with RSI potential breach through oversold zone.
Please comment with thoughts and ideas. Thank you.
Technical buy off supportThe pair is finding support at a previous pivot. MACD and signal have made a cross with RSI gradually exiting oversold zone. Volume for both currencies are high with CAD having slight edge.
TP as shown as chart. A MACD divergence may lead to support breach and SL to retest lower support.
Please comment with thoughts and ideas. Thank you.
Current buy sentiment with potential sell forecast. Currently the pair is finding support at a major level. For a safe entry point off support to avoid unexpected swings I will place a buy stop at 116.500 with a take profit at 117.700. My personal sentiment is for a buy.
On the contrary a significant breach and close out below 116.000 will sentiment towards a 113.800 sell retest.
Given chart pattern if entry rules are followed whether it’s a sell or a buy will result in profit.
My indicators are set for a clear pivot into a buy with RSI making a pivot at the oversold zone and MACD/SIGNAL attempting to fan outside of histogram bins that signal low volume sellers for a cross heading towards 0 line.
Please comment with thoughts and Ideas. Attached is a previous premium price action forecast that was spot on. Thank you.