PLNUSD trade ideas
USDPLN: Long opportunity within a 1D Megaphone.The pair is trading within a 1D Bullish Megaphone pattern (RSI = 63.428, MACD = 0.027, Highs/Lows = 0.0246) since the late June bottom. On September 13th it even tested and held the 3.90000 1D Support which is more than enough (along with the 1D MA50) to sustain this uptrend. Our goal is the 4.10000 1M Resistance which has been holding since the Lower High in March 2017.
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USDPLN testing rising channelParity reached a lower band of the rising channel. Price movement can continue to climb till 4.05 level. If we see a decline below to 4.00 level price might continue to fall.
USDPLN SHORT the polish zloty has been bullish for the past year, and i believe in the process it has formed an ascending channel. the price has reached the resistance of the channel and it has slightly formed a double top in the process. going short at the current market price is the best thing to do, with a really tight stop the risk reward ratio is impressive.
USDPLN Buy SignalPattern: Head and Shoulders on 1D.
Signal: Bullish as the Right Shoulder formation bounced on the 4H Support.
Target: 4.9900 (just below the Resistance).
USDPLN formed a bullish shark | A good long opportunityPriceline of US Dollar / Polish Zloty has formed a bullish shark and entered in potential reversal zone to hit the sell targets soon insha Allah.
I have defined the targets using Fibonacci sequence:
Buy between: 3.92700 to 3.90748
Sell between: 3.94348 to 3.98155
Regards,
Atif Akbar (moon333)
USD/PLN Two Possible Scenarios by ThinkingAntsOkDaily Chart Explanation:
On the daily chart, price broke the Channel that has been forming since October '18. After that, consolidated on a triangle pattern and now it is facing the Resistance Zone. In the Short term, we expect a bounce at this level.
Weekly Chart:
USDPLN Short ScenarioGood afternoon traders!
So far I have found only a short scenario on this pair, perhaps a long scenario may emerge once price breaks out to the upside of the rectangular range; until then, however, I remain relatively quite bearish.
It will be interesting to hear your views. Cheers.
All the best!
USDPLN short stop @ 3.9538 1/2 position.Going short this is a reversal as price is above both moving averages. I had this long last week.
Ready to bounce on USDPLNAscending channel is still valid on parity. After the small correction done we can see another impulsive movement to the upside. 3.95 and 4.00 resistances will be important in the case of sharp upward movement. 3.92 - 3.90 area will try to block downward price action.
