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Rectangle

NZDUSD RECTANGLE CHANNELGreetings, fellow traders! Let's shift our focus to NZDUSD, where an exciting trading opportunity awaits our attention. The pair has notably established two distinct boundary lines, effectively containing the price within a rectangular channel. Notably, the price has recently breached the lower trend line, marking a significant development. Key Points: - Lower Trend Line Breakout: 0.59885 - Targets: - 50% Fib Retracement: 0.57703 - 100% Fib Retracement: 0.55580 The intricate interplay of these elements presents a compelling trading scenario. Let's diligently monitor the progression of NZDUSD as it navigates this channel, keeping a keen eye on how it responds to these critical levels. Wishing you all a week filled with insightful trades and successful outcomes! TCPLTP
Short
by TradeChartPatternsLikeThePros
3
AUDCAD RECTANGLE CHANNELHello traders and welcome! Let's take a look at AUDCAD, presenting a great trading opportunity. AUDCAD is currently trading near the Lower Trend Line Breakout at 0.85627, within a rectangle channel. A break below the Lower Trend Line Breakout at 0.85627 could target the 50% level at 0.80684 and the 100% level at 0.75825. However, it's important to note that rectangle channels are only considered valid when the price breaks above or below the boundary lines.
by TradeChartPatternsLikeThePros
#CADCHF here we go again. Hello dear traders and friends, Let's take a look at CADCHF chart once more time and see the potential buying opportunity in this pair. Last week, if you recall, the price managed to break above the 4-hour timeframe range area, and we were waiting for a price pullback to initiate a long position. This pullback indeed occurred, and we were able to secure a favorable position at the location marked by the previous green up arrow. You can review that trading idea by following the link below. Once again, the price has reached the support area, which also serves as a 4-hour low. This means that for the bullish market structure to be maintained, the price should not close below this low. Otherwise, there is a possibility for the price to move towards the lower low. For a more conservative approach to entering a position, we recommend waiting for a breakout above the short-term bearish trendline . This is a safer method for participating in the market, and if you observe a valid bullish breakout, you can set your stop-loss below the low. The alternative and more aggressive method for trading this idea is to monitor the price at the current area and watch for rejections from the low. These rejections signify that the significant bearish candle is a false downside breakout intended to trap sellers and trigger buyers' stop-loss orders. If you've found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
Long
by mohemati
3
#CADCHF buying opportunityAs depicted in the chart, the price successfully broke above a range-bound area yesterday. This pattern, known as the "line formation" in Charles Dow's trading strategy, represents the only tradable Daily time frame pattern based on Dow's principles. We are currently waiting for the price to retest the previously broken resistance, with the expectation that it will now act as support. To maintain our position and adjust our stop loss in line with this bullish trendline, it is essential for the price to remain above our short-term trend. In order to manage our Risk-to-Reward ratio effectively, we have decided not to initiate a position until the price reaches our designated support level. At that point, we will be on the lookout for bullish price confirmations. by the way If you've found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
Long
by mohemati
2
Textbook Consolidation Rectangle -EGHere we have EUR/GBP on the 4Hr Chart in a beautiful textbook example of a Consolidation Rectangle Pattern! Clearly respecting a Resistance @ .87403 and Support @ .86829! Accompanying price on my chart is the 200 EMA with price ABOVE it showing it has been BULLISH with the dirty test prior to the pattern. Along with the Bollinger Bands showing CLEAR signs of sideways trajectory! Fundamentally for today: EUR - Spanish Unemployment Change @ 3am and Unemployment Rate @ 5am GBP - CIPS UK PMI @ 4:30am and MPC Members Pill & Haskei speak @ 7am & 11am As far as directional bias, I will be neutral on this pair until we are given a proper break with added confluence of other factors pointing to solid momentum! *Chart patterns are known to fail 1/3 of the time so BEWARE OF FALSE BREAKS!!
by Novi_Fibonacci
EURNZD: Important Bearish Breakout 🇪🇺🇳🇿 Take a look at a price action on EURNZD. First, we saw a strong bearish wave on a daily. Then, the market became weak and the price started to coil within a narrow horizontal range. After a consolidation, a support of the range was broken. It is an important sign of strength of the sellers and signifies a local change of character. I believe that the pair may easily drop to 1.782 support now. ❤️Please, support my work with like, thank you!❤️
Short
by VasilyTrader
1
MarketBreakdown | EURUSD, BITCOIN, SILVER, EURNZD Here are the updates & outlook for multiple instruments in my watchlist. 1️⃣ #EURUSD daily time frame 🇪🇺🇺🇸 The market is trading within a wide horizontal range on a daily. The price nicely respected its support and the yesterday's FED decision to keep the interest rates will most likely push the prices higher to the upper boundary of the range. 2️⃣ #Bitcoin daily time frame ₿ BTC set a new higher high higher close on a daily, violating a local daily horizontal resistance. Taking into consideration that the market is trading in a bullish trend, such a violation may trigger a further bullish continuation. 3️⃣ #EURNZD daily time frame 🇪🇺🇳🇿 After a strong bullish wave, EURNZD was consolidating for some time within a narrow horizontal range on a daily. The support of the range looks broken. It will most likely push the prices lower. 4️⃣ Silver (#XAGUSD) daily time frame 🪙 One more range. We see a positive bullish reaction to its horizontal support. We can anticipate a bullish continuation to the resistance of the range now. Do you agree with my market breakdown? ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
2