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AUDCAD MULTI-MONTH REVERSAL!!!The double bottom pattern consists of two lows around the same level of support and indicates a possible bullish reversal signal. Price is also resting at a key level of support and resistance Once those levels of support or resistance are broken, the supply and demand dynamics which produced them are shifted Support is the amount of demand that is strong enough to prevent the stock from dropping any further. The level at which supply is strong enough to prevent the price from rising is referred to as resistance. Looking at the trade setup at the current levels the market is showing a low risk entry relative to our upside targets on the daily time frame We are also seeing slight bullish divergence on the RSI on the double bottom pattern Like for more and let me know what you think
Long
by Olutobi-Ogunsemore
USDCAD Entries + Exits! REVERSE IS SECURED IF PLAYED CORRECTLYThe ENTRY/TP zones are your entries as well as your exits. Everything above the current candlestick is resistance, you would treat every zone above as a sell/potential buy break. Everything below the current candlestick is support, which you would then treat every zone below as a buy/potential sell break if it hits the pip rule. More info on the strategy and how to play it: How To Play The Chart Entries/Exits: Buy at green support entry, if it breaks by -35 pips (count it out) then enter a sell and ride to TP1, 2 and 3. Trail stop at each TP which means place your stop loss in profit but with enough room to be able to continue the sell if it continues. Same thing at resistance, sell but if broken by 35 pips then enter the buy and ride to TP1. Each TP is a support or resistance zone , so you could then even take a sell after TP1 for the buys have been hit and if it breaks out then just repeat. All likes/comments and feedback are very much appreciated! Thank you to all of those who support me on a weekly basis, it really does mean a ton to me!
by ExclusivelyFX
3
EUR/USD Signal - EUR Industrial Production - 15 Sep 2021EURUSD is in a widening wedge pattern prior to the EUR Industrial Production data this evening, which measures the the volume of production of Industries such as factories and manufacturing. Technically the pair bounced from support two days ago, and we've seen daily candles form higher highs, despite closing down. The bearish widening wedge pattern is typically a bullish indication, and we are looking for a move back into the 1.1850 resistance.
Long
by ToniSignals
XAU Entries + Exits! (REVERSE IS GUARENTEED IF PLAYED CORRECTLY)How To Play The Chart Entries/Exits: Buy at green support entry, if it breaks by -35 pips (count it out) then enter a sell and ride to TP1, 2 and 3. Trail stop at each TP which means place your stop loss in profit but with enough room to be able to continue the sell if it continues. Same thing at resistance, sell but if broken by 35 pips then enter the buy and ride to TP1. Each TP is a support or resistance zone , so you could then even take a sell after TP1 for the buys have been hit and if it breaks out then just repeat. All likes/comments and feedback are very much appreciated! Thank you to all of those who support me on a weekly basis, it really does mean a ton to me!
FX:XAUUSD
by ExclusivelyFX
5
NZD/USD Signal - NZD NZ Business PMI - 17 Sep 2021NZDUSD is trending to the downside currently, having broken below the key support zone following disappointing NZD Business PMI data, which presents business conditions in New Zealand. The Business PMI is an important indicator of the overall economic condition. A result that values above 50 signals appreciates (or is bullish) for the NZD, whereas a result that values below 50 is seen as negative (or bearish). Technically the pair has broken key support, and we also anticipate USD strength to drive the exchange rate lower.
Short
by ToniSignals