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AUDUSD: two options for the development of eventsIn early February, the price bounced off the support zone of 0.760 and rose to the 0.797 line. After that, a fall began and during it a trend continuation pattern was formed - a falling wedge. Last week, the price left patern, breaking through its border at 0.762. After that, one could expect an uptrend growth by volume. The price has already reached the resistance zone of 0.780. Now it's worth waiting for the price to break through this zone or not. 1) if yes - we are waiting for growth to the volume of the 0.794 pattern. 2) if not - a fall to support 0.767. Remember, there is no place for luck in trading - only strategy! Thanks for the likes and comments.
by UnknownUnicorn15614419
3
BFLY update.I had previously put this on a watchlist for going long. Now, I am actually thinking it's going to fall further. I thought at this point the wedge breakout would have occurred, and since buyers haven't moved in, I think it may be headed down further. I have seen similar setups where the wedge keeps getting tighter and tighter on the top, then finally no buyers are to be found and price plummets. I'm not saying this is going to happen.. but if market makers are trying to hide their intention to buy they are doing it strictly and collectively. I think I will steer clear of trading this, but I do enjoy a good case study, especially when it's not being done on me, so let's see what's in the cards.
NYSE:BFLY
by emehoke
1
FUBOFUBO - NEUTRAL - FUBO currently at a major decisive point. Scenarios: Long: - Bounced off of .786 Fib - Giant Volume Candle on the daily - Possible ignition of trend reversal (to the upside) - Look to enter long if a 30m candle closes above $25, target Point of Control at 28. Might move higher to .618 fib at 29.50 - Bottoming out action present chart - Bottoming out at over-sold area of RSI Short: - Bounced off of upper channel of down-trend - Look to enter short if a 30m candle closes below 20.42 - Lots of room to go down further if 20.42 support breaches, profit target at 14 Overall: More bullish signals than bearish.
NYSE:FUBO
by GeneticHustle