Since September a downward channel has formed on the OANDA:AUDCAD 4H chart. For several times already the RSI is working in conjunction with the trendlines. Possible exit of the short position would be the 0.92 – 0.915 area. For a low risk, high reward trade put your stop-loss around 0.943. A much less risky trade would be to put your stop-loss around 0.958....
A massive triangle has been forming on the weekly Platinum chart. Best is to wait until the weekly candle has broken through the 2020 highs with sufficient force. The riskier trade would be to wait for and entry around $750. In case the $750 resistance doesn’t hold, look for an entry around the 2020 lows. Targets 1-4 are based on previous highs throughout the...
After the crazy run-up we saw earlier this year GOLD is finally consolidating. Is it ready for a drop? The monthly RSI peaked at 84 points. The last few times that the monthly RSI peaked above 80 points we saw a retraction of 35% to 45% in the period after the RSI peaking. The $1400-$1500 level is chosen specifically because it’s an area of resistance which...
GBP/AUD Short Gartley Pattern has completed. www.investopedia.com Please do your own research before entering the market.
MACD and RSI show similar pattern as earlier break-out. Will history repeat itself?