NZDUSD still moving on the upper side of this daily channel. Plenty of room up until meeting some resistance. Stop loss will be moved to BE before Fed's meeting next week.
Looking at PA on the lower time frame to confirm bounce from post brexit daily channel midline (dotted green line)
Triple bottom + support found on triangle trendline. I don't think the pound is due another dip anytime soon.
Symetrical triangle with a lot of pressure against the major daily red resistance. I may not take profit on this one at the specified level, instead I may move stop to breakeven and ride this one for days. Even though volatility will most likely stop me out the massive RR on this one is worth it. Filled at 102,091
Pressure being built up on this ascending triangle. Loads of resistance on the upside, so imo there is little room for an upside move (careful with the spikes and breakout orders) Looking at price action after a downward break of these 2 ascending trendlines. Would enter a short only after a retest.
Looking at price action to short the bounce from this trendline
Bullish GBP, but overextended. Trading the resistance bounce.
Aiming for post Brexit daily channel upper band *Filled at 1.3191
If the USD doesnt show strenght during the week these are the levels I'm looking at to short fiber.
I'm a new trader fascinated by technical analysis. I'm really new to this and I'm trying my best to workout what are the tools that really defined the market moves. Here is my analysis for the week: After loosing momentum, bouncing on the midline of a monthly channel and breaking a 3-days descending channel EURUSD looks like is due for a major correction. I...