Exponentialmovingaverage
GBPUSD Support Resistance LevelsWait for a pull back to the exponential moving average for an entry.
AUDCAD Entry Price 0.93347 (Watch For A Pullback)AUDCAD Pull Back Trade Idea. Watch For A Pullback Entry To The Horizontal Support Resistance Level, Trend Line, Exponential Moving Average Period 10, Exponential Moving Average Period 20.
EMA 20 = 0.93459
EMA 10 = 0.93348
Horizontal Support Resistance = 0.93347
Close Price = 0.93035
2.68R EURUSD Target Price 1.23495 (158.0 Pips)EURUSD Entry Price 1.21915 Take Profit 1.23495 (2.68R)
ADA - Quick 4hr chart updateA quick ADA 4hr chart update:
ADA is below its Bollinger Bands Middle Band Basis which is a 20 period SMA. ADA needs to eventually close above this level and turns it into strong support.
ADA is below its 50EMA. It’s crucial for this 4hr timeframe that ADA eventually close above the 50EMA and turns it into strong support.
ADA is below its Least Squares Moving Average (LSMA) for this 4hr timeframe. If you are waiting for a confirmation signal to buy, using the LSMA, you can wait until ADA closes a 4hr candle above the LSMA and turns it into strong support as that would be a buy signal for this indicator.
If we look at the Schiff Pitchfork Pattern (A,B,C), we can see that ADA had found support from its Upper Yellow Schiff Pitchfork Support Line 2 days in a row. Tonight ADA needs to close above the upper light green support line or we will be testing the Upper Yellow Schiff Pitchfork Support Line again.
The ADX DI is indicating a weak trend with the ADX (Yellow Line) at 18.18 above its 9 Period EMA which is at 17.4 but under the Threshold of 20. Above the 20 Threshold is considered the start of a strong trend. The -DI (Red Line) has dropped and is now at 23.47 but still above its +DI (Green line) which has also dropped and is at 13.11.
The Chaikin Money Flow (CMF) is indicating a slight increase in accumulation with the CMF Line at 0.18 at the moment of typing this. This is a good sign that ADA is still being accumulated, but we need to keep an eye on the CMF Line in this 4hr timeframe, because we do not want the CMF Line to drop into the Distribution Zone which would lead to more downwards momentum.
Volume is still low with the Volume still under its Volume MA for this 4hr Timeframe.
A crucial level for this timeframe is the Schiff Pitchfork Median Line. ADA need to stay well above this level if there is going to be any attempt to get back over the 50EMA and back above the Bollinger Bands Middle Band Basis. If upwards pressure doesn’t resume for this 4hr timeframe and ADA eventually closes below the Schiff Pitchfork Median line, ADA could find support from the lower yellow support line. It should be an interesting weekend.
A look at the CMF
A look at the ADX DI
I hope this is helpful with your Trading and Hodl-ing.
