Channel-break
USDEUR IS OVERBOUGHT A DROP IS COMINGUSDEUR has high probability to drop, reasons:
Overbought (Yellow) in 85m 2H time frames indicated by "9 Seasons Rainbow Multiple Time Frames Pattern PRO" Indicator;
RSI Divergence
Previous Resistance: 0.892
Previous ascending channel has been broken.
Target 1: 0.884 Fib 0.618
Target 2: 0.881 Fib 0.382
Target 3: 0.873 Fib 0.236
STOP: 0.893
Some factor that against this idea: 1H Crazybought (Lime) means Bull has just overcome some resistance and is still strong, this may keep them longer on the possible Top.
DISCLAIMER
This is only a personal opinion and does NOT serve as investing NOR trading advice.
Please make their own decisions, carefully assess risks and be responsible for your own investing and trading activities.
Major Descending Channel on H4/D1 for EURCAD - BUY ALERTThis descending channel meant you could have been buying at every bottom trend line touch with take profits once it hits the top.
Risky moves were selling from the top to the bottom
VERY close to major support structure area. BIG BUY coming up
DON'T miss this - an UNCOMFORTABLE lot size on this move will go a LONG way in proving that patterns are KING!
"IF YOU DON'T KNOW PATTERNS, THEN YOU DON'T KNOW HOW TO TRADE"
"LEARN YOUR PATTERNS - YOU MUST KNOW YOUR PATTERNS"
--WAVE TRADER
SPY could break down out of the channel at any time now.SPY is in a tricky situation here. Currently it is stuck in a short term ascending channel. The breakdown point could be any day now as the daily Stoch and RSI are reaching overbought levels. One it breaks down, the next point to watch is the long term support level from back in 2017 at $254. From there it can either break below that, or rise back up to the four month downtrend line.
AUDUSD 60M getting ready for a move downAUDUSD after a tremendous bout of bullish strength, price is due for a correction. Currently the price action is moving correctively to the upside, showing signs it's ready to head lower anytime soon. The move down will be a very welcomed one as I am very bullish long-term on this pair (see prior analysis). A correction lower will provide an opportunity to add to my long position. Will pay particular close attention if price makes it all the way back down to .7000 handle.
If you'd like to be in the loop on even more stellar setups just like this one including how our free community took advantage of a 1,700+ PIP MOVE that was posted in advance join our Free & Friendly Telegram Channel @ t.me
#PriceActionIsKing!
Trade with care my friends! :)
SHORT GBPUSDPros
Channel-break.
Double top confirmed.
The dollar is strengthening.
Cons
Countertrend.
Strategy
I'm gonna try to sell on pullback.
I think the double top projection is too agressive. That's because i put it on 38/50% zone.
The stop is above the support zone and channel uptrend.
The divergence on hourly timeframe can cause a pullback to enter short.
We leave the corridorOur pair has been trading for a long time in the corridor. For two weeks it had found levels of support and resistance on the levels of 1.2755 and 1.2890
However, yesterday the dollar went on the offensive and overcame the upper boundary of the channel.
At the moment, we assume that the pair will continue the upward movement to the next resistance level drawn on the chart. Therefore, we advise you to occupy long positions and consider the resistance levels as your goals.
Long on EURCAD Double bottom false break out of the channel?EURCAD broke out of the uptrend channel & formed a double bottom with a stop hunt on the 1hr time frame. this could mean a pullback to re-test the channel or resistance area 1.52479 at which TP 1 profit will be booked in. if it breaks back into the channel, we looking at 12: 1 trade where TP 2 at 1.5695 and TP3 at 1.6098 could be reached.
The pair has crossed the resistance lineOur pair has gone beyond the descending channel and is currently demonstrating growth. Against the backdrop of investors' expectations that the interest rate will be raised at the next Fed meeting, investors are returning their interest in the dollar.
Given that our price has received a new upward support line we can expect further growth in the pair. In case the pair falls below this level we anticipate the possibility that the boundary of the descending channel has shifted by the channel value from the resistance level.
A possible long opportunity on USD/JPY Hi guys,
I want to share my vision of USDJPY.
I was looking at this pair for the last days and waiting for a nice trade opportunity, finally i found a great pattern that could make a lot of pips.
As you can see, we have a inverted Shoulder Head Shoulder pattern with a breakout of the channel, when a breakout happens, mostly i wait for a retest of previous resistance now support.
The only thing that i don't like at all is the NFP result which was horrible for the USD, this can lead to invalidate our inverted shoulder head shoulder pattern and bring the price back to 105.000 levels
Personally im going to wait for a candle pattern that gives me confirmation to enter.
Trade Safe!
Greetings,
D. Sayan
ETH/USD - Testing Important Zone - Downward Trendline from ATH!My first video on ETH and to me it looks like ETH is getting close to making a decision on the direction she's looking to go.
Price action is just below and overall downward tend line from all time highs, so I believe we'll need to see a significant break and close above this area to see price action to start a trek above 1K again. I do believe we might see a little downside movement before she's really ready to pop. We will see!
I hope you enjoyed the video... give me a like and your opinion!
XRPUSD Daily Stuck In The Channel XRPUSD Major Channel
Waiting For Hull MA to Change Color To Confirm Direction
Color Red
Number None
Channel breakoutFinally broke out of the channel its been in for about 3 months. Hope to see more new highs in the coming week.
The market in general closed all time high today. This stock might be getting push from that - in that case it will just return to the channel in the coming weeks.
The stock did not see significantly higher volume when it broke out to new high - volume was same as average volume - means no new buyers/news etc.
NEW CLAW PATTERN STRATEGY INDICATOR FOR FOREXThis indicator was designed for the Bitcoin market but you can see it works just as well in the FOREX market.
For more info. on this indicator leave a comment below
TRMB - short from current price to $32.57 & $40 May-18 Puts TRMB is just breaking down through support from a beautiful upward channel formation. Money flow is very negative, and it has massive insider selling.
We think it has very good downside potential. This would be a good stock short however, we would also consider $40 May-18 Puts.
* Trade Criteria *
Date First Found- December 13, 2017
Pattern/Why- Upward channel breakdown short
Entry Target Criteria- May $40 puts
Exit Target Criteria-1st Target $32.57, 2nd Target $28.63
Stop Loss Criteria- $44.17 or $42.13
Indicator Notes- Moneyflow divergence
Special Note- Massive insider selling, big on % wise
Please check back for Trade updates. (Note: Trade update is little delayed here.)
