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Trend-analysis

OSP - where to from here?We look at ASX:OSP after a rapid mid-year rise and subsequent fall-off. After entering the downtrend in August, ASX:OSP hit a support of $0.022 before failing to break through 0.618 fib resistance. Subsequently the previous support of $0.022 turned into resistance. New 'Support 1' of $0.018 was found which ASX:OSP has looked to have bounced off at the start of November. Four-month downtrend will be tested again next week and will dictate how the remainder of 2020's trading plays out. Crucially, DMI+ crossed over the ADX in early November and this still remains (although close to the 25 level which is the rule of thumb for trend significance) In addition, standard Stoch is showing a movement away from oversold. Finally, the WVF is hinting at a movement away from market bottoms. An interesting stock to watch over the next week - a movement away from Support 1 is likely and even trading sideways would see the four-month downtrend broken.
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by chartorscience
EURJPY Sell Setup!Hello everyone, if you like the idea, do not forget to support with a like and follow. on DAILY: EURJPY is sitting around strong supply in blue so we will be looking for sell setups on lower timeframes. on H1: EURJPY is forming a trendline in red, but it is not valid yet, so we will be waiting for a third swing to form around it to consider it valid. Trigger: Waiting for a momentum candle close below the gray area to sell. and until the sell is activated, this one would be overall bullish. N.B. when the sell is activated, we will move our stop loss to breakeven as the trade approaches the lower blue trendline. Good luck!
Short
by TheSignalyst
6
CADCHF Sell Setup!Hello everyone, if you like the idea, do not forget to support with a like and follow. on DAILY: CADCHF is sitting around a strong resistance (and round number 0.700) in blue so we will be looking for sell setups on lower timeframes. on H1: CADCHF formed a valid channel in red. Trigger: Waiting for a momentum candle close below the gray area to sell. If the price forms a new blue dot around our lower red trendline, then we will update our trigger swing. NB: Until the sell is activated, this one would be overall bullish. Good luck!
Short
by TheSignalyst
2
EURCAD Sell Setup!Hello everyone, if you like the idea, do not forget to support with a like and follow. on DAILY: EURCAD is sitting around a strong resistance in blue so we will be looking for sell setups on lower timeframes. on H1: EURCAD is forming a trendline in red (not valid yet) so we will be waiting for a third swing to form around it to consider it valid and sell on its break downward. Trigger: Waiting for a momentum candle close below the gray area to sell. NB: Until the sell is activated, this one would be overall bullish. Good luck!
Short
by TheSignalyst
EURUSD Sell Setup!Hello everyone, if you like the idea, do not forget to support with a like and follow. on DAILY: EURUSD is sitting around a strong resistance in blue so we will be looking for sell setups on lower timeframes. on H1: EURUSD formed a valid trendline in red Trigger: Waiting for a momentum candle close below the gray area to sell. NB: If a new blue dot is formed around our lower red trendline, then we will update our gray area. and until the sell is activated, this one would be overall bullish. Good luck!
Short
by TheSignalyst
AudUsd: Temporary Downside To Go Hello everyone, Another week is among us. If you paid any attention to my post last week on AudUsd and EurUsd - you should of been rewarded... I sure did. I appreciate all the feedback, follows, and messages. Now, that I'm looking at the charts - AudUsd should be seeing temporary weakness until 0.72 whole figure, but I am targeting 0.71920. This idea can change at any time... Especially since markets have not opened, but I am feeling like Audusd needs some correcting. I will update this post, or post another one if anything drastically changes. GLGT
Short
by CurranSotomayor
NASDAQ - US100 two possible scenariosIf you like the idea, do not forget to support with a like and follow. on H4: NASDAQ is currently trading inside this giant symmetrical triangle in orange. SHORT-TERM: this one is now sitting around the upper orange trendline so we will be looking for sell setups on lower timeframes (M30 and H1) and we will be looking for buy setups as price approaches the lower orange trendline. LONG-TERM: we will be waiting for price to form a third swing around the upper orange trendline to consider it valid and then enter buy after a momentum candle close above it. and we will be waiting for a new swing to form around our lower orange trendline and then sell on its break downward. Good Luck!
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by TheSignalyst