It broke the sloping resistance line with heavy volume. Can enter long if the previous days high broken. ENTRY : 4915 Can book the profit at the swing high of 5090
In this trade I intend on shorting the SPX, S&P 500 or US500 (depending on your broker) following a bearish breakout and close of the potential bearish rising wedge formation. This trade is based upon the following technical factors that we can potentially see from the 4H chart: 1. Bearish rising wedge formation 2. Resistance at the 61.80 fib retracement 3....
Considering the bigger picture and the trend we have 90% win probability in this trade. we are sitting at all time low in the M TF and the trend is favorable for take a short trade. our zone is on Daily TF. you can do trailing stop loss for T2 in this trade. Drop a comment below if you take this trade
EURNZD - I have alerts set for the 1.81000 region. In this area we would have an inverse head and shoulders, a key level, support from previous swing points and the 61.8% fib! We have the 4hr 50 EMA just above the 1.81000 region but I wouldn't be surprised if we push slightly lower before an aggressive reversal. Getting people caught on the wrong side of the...
Running nicely on gold, expecting to break through resistance area outlined, will be adding positions on pullbacks/retracements.
We are expecting further downside to come for USDCHF. On the lower TF's we are waiting for a pullback and the rules for our strategy to be met. We have outlined where we can expect price direction.
We recently posted our thoughts on this trade. We were waiting for price to enter this zone and our order has now activated. A nice simple trade, break and retest of structure, lining up with fib levels. On lower TF's we are seeing a rejection from this area and can expect some upside to come.
EURJPY Failed to break above structure by being unable to create any higher highs and breaking above the resistance area which also lined up with fib levels. We are now seeing downside which is supported from COT position which shows banks still continuing to add long positions to the yen. We're seeing banks start to accumalate some strong long positions so we can...
EURNZD has been very bearish recently but price may find support around the 1.77-1.79 region, which also lines up with a key fib retracement level. We are also entering oversold territory so we could see some relief for the euro. However, with multiple bearish candle sticks on multiple time-frames it appears bears are not over yet. As per usual, we will be waiting...
Another possible retracement play on GB [USD, lining up with a resistance area, fib level and 200day MA. Could see sellers look to add positions around this key area. Will be waiting for rules on the 4HR to be met in order to place trades.
Will be interesting to see if GBPCAD will retrace from current levels and respect the weekly resistance area which it is in now. Keeping a close eye this week ahead for possible downside.
Price is pulling back to retest structure while also lining up with key fib levels. From this area we could see some sell orders enter the market and continue to push price lower.