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Formation

$FB - The thumbs are pointing downwardThe FB daily shows a coil around the point of control in the 114s. A break north of the coil on weak volume, paired w/ a flat RSI, and MACD negative divergence indicate a potential reversal back into the coil. If the support in the 113s holds, the coil should then break north again. If it fails, it could result in a possible bow draw reversal of the coil, at which the next level of notable support is A move to that degree could result in a possible draw reversal to the lower support in the mid 109s. Target area highlighted in yellow, which is also the .5 - .618 fibonacci levels.
NASDAQ:METAShort
by TraderMentality
EURUSD LONG DEEPER LOOKDaily chart of the EU v DOLLAR Upside for the foreseeable future and i mean until we hover at around 1.260s as i talked about on the Monthly chart displaying the overall BIAS for EURUSD.. but we have to acknowledge this major resistance level that is in our way on the Daily, we may stumble reaching it if we do not close above the previous high by the close of tomorrows trading session it is likely we will follow a minor channel correction upon market open on Monday.. so a good short term sell real quick there as we will retrace to the 1.1080 level if we are unsuccessful at closing above the previous high. if we are considerably bullish starting the weekend then assess your positions moving forward long, i would place a purchase order for x lots @ 1.13600 with a SL of 1.11000 and a reminder @ 1.17000 to assess whether i increase/decrease my position size.
Long
by HektorMorgan
USD/CAD near long-term profit zoneUSD/CAD reacted very well to the formation 'Head and Shoulders'. 1.1571 is 200% fib measurement of the low of the right shoulder and the high of the high shoulder. Also to keep in mind we have a 0.618% fib very close (fib of the 2011 low and 2009 high). On the other hand, to give us even more support of this zone, we have a very clear trend line (blue line) which we can see a nice reaction from it. So, lets see what happens when we get there, keep this levels in mind and we might correct from it.
Long
by dcm2020
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