AUDCAD Potential downsidesHey traders, in today's trading session we are monitoring AUDCAD for a selling opportunity around 0.894 zone, once we will receive any bearish confirmation the trade will be executed.
Trade safe, Joe.
Technicalanalaysis
BCH - Another Leg up continuation on its Massive PumpBCH - Bitcoin Cash is a fork (variant) of bitcoin that was branched off in 2017. The technical difference between Bitcoin Cash and Bitcoin is that Bitcoin Cash allows larger blocks in its blockchain than Bitcoin which, in theory, allows it to process more transactions per second.
BCH has underwent an insane run from 683 to 1611 from 23 April in mere weeks, now we see cup and handle formation playing out, and the formation of bullish pennant/flag where it hit an ATH at 1611 and pulled back to find strong support at 0.618 fib level ( 1250-1265 ). This area has held up 4-5 times, with strong bullish action upon touching this support zone. So now we anticipate a breakout of this bullish flag out of the top resistance line, good entries are at the bottom of the flag where the support is at 0.618 fib around 1308 - 1257. From here we look to target firstly the ATH at 1611, next target will be 1930 (the extension of the bullish flag confluence with the target of a completed cup and handle formation) at 1930 and the 1.618 fib level at 2185.
Entries at 1257 - 1308
Targets are 1611, 1930, 2185 as described above.
Stop loss according to risk appetites : 1174, 1103 or 1050 (in the 0.5 to 0.382 zone where we see strong support lines which were previous resistance)
NZDUSD Supply ShortsOrder Block and Supply Zone created.
Entry on retest (institutional limit order fill)
XAUUSD 4hour Analysis August 2nd, 2020Gold Long idea
Every timeframe shows strong bullish movement so we will continue to only look for long opportunities.
Recently we saw price action form an ascending triangle at the top of this bullish leg. From this zone we can see 2 potential trade situations.
1.Price action keeps pushing higher. You can place a trade based on price action alone but it may present more risk.
2.Price action pulls back to form structure at a key fib level and makes another push to the upside. We will have to wait until a reversal forms before we can 100% determine where our key fib levels will be.
