Pair: USDCHF Timeframe: 1D , 4H Analysis: Round number level, trend line, volume profile, support and resistance, ascending triangle pattern, pennant ————— Key Takeaway: We have broken our upwards trend line and seen a bounce off our resistance levels. We now need to see a push through support and rounded number and we will then be entering short ————— Level...
GUSH Reversal? An idea I'm considering but its a bit complicated to trade this one. 3X ETF containing a bunch of nat gas an oil stocks. Very high correlation with XOP. Watch out for decay if you plan to hold. HONOR YOUR STOP and don't be greedy yet. Here is a screenshot of the 3 tickers shown in the idea cart. i.imgur.com Oil (/CL), Nat Gas (/NG), and XOP have...
Our RSI 80-20 Strategy triggered a trade. Below are the rules of the strategy: Step One: Find the currency pair that is showing a high the last 50 candlesticks . (OR low depending on the trade) Step Two: When we find 50 candle low, it needs to be coupled with RSI reading around 20 or lower. (If it’s a high it needs to be coupled with the RSI reading 80 or...
Price is re-testing the resistance zone. Price is most likely to drop again. We have a nice over bought area on the stochastic. A little more risk is involved in this trade since its on the 15min chart so trade with confluence and only if your trading plan agrees. All the best :)
Cypher pattern completion at 1.43207 This is also a break and close below previous higher low which could indicate a reversal. Trade 1 if price reaches "D" completion then look for long trade - Target 1 - 1.44259 Target 2 - 1.44587 Trade 2 Potential reversal from 50% retracement - short trade
EURUSD just broke even lower. Short to the bottom of the major trendline, where we then expect a reversal. You can enter a long trade at the bottom of the trendline, with tight SL below.
EURUSD is forming a W pattern on the 1H chart indicating a possible bullish breakout in the near future. The W is within the potential reversal zone which makes it significant. We expect price to travel up the 4th leg of the W before breaking resistance and moving towards the 200 MA.
Although in a healthy uptrend, USDCAD has run into resistance at ~1.3070 which happens to be a price level on the weekly chart that has previously been tested (as support in April 2004 and resistance in March 2009). Price closed below this level on Friday as a high test bar. Coupled with bearish divergence on the Stochastic and RSI indicator a price action...