Just look at the 4H chart. (The prediction drawings could be off sometimes, it's just to give you the picture) (This is not financial advice, this is a volatile market where anything can happen)
I think it's very likely we can head to 5.9k here. The stochrsi on the 1day chart has plenty of room to drop still and the reason we are currently consolidating I believe is that the 4 hour rsi just hit oversold conditions. So it is likely we will fall back down and retest the bottom trendline of the pink symmetrical triangle. Even though we are currently at a...
4hr chart has the price action respecting the trendlines of a falling wedge/bull pennant. I don't foresee any bullish breakoutt hat may come from this pattern being anything substantial..especially the closer it gets to the apex the harder it will be for a breakout to lead to any sort of higher high. If a breakout does occur I anticipate it will most likely form a...
never a good sign when you see a lower high followed by a lower low but that's currently what we have...I assume we will see another bounce here before too long since we are nearing oversold territory on the 4hr rsi if we do odds are good that that bounce will only form one more addition lower high...if this is the case it will be time to exit the position until...
We are still at this moment in a continuing series of higher lows on the 4hr which is good but we've actually had 2 lower highs in between those higher lows in a row so that coupled with a new potential head and shoulder pattern leaves rom for concern. I exited my position above the t line at around 7632 and only plan on getting back in around 7821 to play it...
EURUSD Update After rallying from the downside target off the 1.1721 line EUR has made it to the near term upside target centred around the 1.1821 line and been met with a barrage of persistant selling from there over the last 6 hours creating a series of rejection spikes above the line. If you shorted from here again lower the stop to 1.1787. It's been sold...
I exited my position once we dipped below $8790. At that point a lower low had been achieved on the 4hr chart which almost always tends to be just the beginning of further downside. However we are now in oversold conditions on the rsi and the stoch rsis buy signal line is finally curving back towards the upside. We also seem to have a decent sized support buy wall...
As you can see on the 4hr chart we've had a slight retracement all the way back down to the 100SMA (in blue) where fortunately it changed course with the 100SMA acting as support. We also established a higher low and higher high on that last retracement compared to the retracement before it which mean the bulls still have control for now. Seeing as how we have...
Looking at the USDJPY pair's daily chart in a wide view, the price is in a wide consolidation between 108 and 115 for more than a year. After the price bounced off from the resistance zone in November 2017, there has been a slow decline towards the support zone at 107.30 -108.30. Today movement has slowed down after today's strong price drop for over 100 pips....
ETHUSD Update Neutral in near term but still bearish whilst trapped under 440 Very interesting price action here: having sold at 468/9 we were waiting to see if ETH could hold up above the lower parallel...it tried so hard for a few hours but eventually it succumbed...failed breaks: remember the pyschology gone over in past posts...day traders are out almost...
ETHUSD Update Grinding lower again after day traders ahve bought the last spike lower for the rally back to the upper parallel and then sold off the line like good day traders are prone to do - and so we see the price action we do here today. Swing traders are left with the same options: Buy that break above the upper parallel, it should be a good one when it...
S&P 500 SPX500 Short Position Update Lowering stop to 2588.7 on short to 2588.9 (to break even if this trade goes wrong from here), but still looking for 22-23 points downside to 2578-2576 from 2589 entry point if right.
UKOIL: Brent Crude Still more downside to go but in very near term it's holding up off a parallel. Suggest lowering stops to avoid a whipsaw counter rally - if it does, look to short again from higher up until downside target achieved
AUD has had a strong breakout of its ascending trendling and is not proceeding to a target area of 83.730, where price may find support and play off it.
If this pair closes below the trend line tomorrow at 4pm, then I will be taking this pair short for sure. The strength suggests a break lower. This is a pretty simple trade! Join Our Focused Forex Chat! atlas-trading.signup.team
USDCAD SHORTING OPPORTUNITY AFTER LOWER LOW