Bullish bounce?USD/JPY is falling towards the support level which is a pullback support that is slightly below the 61.8% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 152.38
Why we like it:
There is a pullback support level that is slightly below the 61.8% Fibonacci retracement.
Stop loss: 151.57
Why we like it:
There is a pullback support.
Take profit: 153.76
Why we like it:
There is a pullback resistance level.
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Foorex
Potential bullish rise?NZD/CHF has bounced off the pivot which has been identified as an overlap support and could rise to the 1st resistance.
Pivot: 0.51877
1st Support: 0.51360
1st Resistance: 0.53029
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Bullish bounce off pullback support?USD/CHF is falling towards the pivot which has been identified as a pullback support and could bounce to the overlap resistance.
Pivot: 0.8988
1st Support: 0.8918
1st Resistance: 0.9094
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Tesla (Buy On Rumor, Sell on News?)View On Tesla (3 Sept 2020)
It is true that Telsa is one big unicorn with 1(all) or 0(nothing) background and it also a one good company to hold.
Nonethless, the recent move has gone fast and furious basing upon the sharing spilt fiasco.
So, the spliting has over. So there may be some "Buy on Rumor, Sell On News" event.
From the TA point of view, the move of 2 Spet has shown some serious selling pressure and it has started to retest the Strong Uptrend (Upper) line near $400.
If the selling persists, it could retest the lower band of strong uptrend line near $375.
Let's see..
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USDJPY - Long term distribution - Major move ahead!Here we have an example of an event within an event within an event.
Next move on the weekly event should be a sign of weakness towards the bottom of the range.
Daily event shows a distribution event that is currently in phase C lpsy.
With weekly & Daily bias bearish, this increases our probabilities of a successful short in the h1 TF, which isn't in phase B of what is most likely a distribution.
Big gains to be had with this one in the mid/long term.