This is a good short opportunity imo, because of the risk reward. Also, it looks like there is a divergence on the RSI. Worth a try.
Although this is in a 5 year downtrend, it keeps getting tested by the price action, and I believe it will breakout to the upside. We shall see though
short at long term trend line. Strong ressistance around 1.72
I'm going contrarian here. USD reports didn't hit targets. It's too early to go long after the recent strength in CAD. It also looks like it's failing to make higher highs. I believe one last correction is in store before we can reconsider a long position here.
EURGBP has just entered the weekly .5-.618 fibonacci zone. I think this week is going to start off with a lot of buying of selling of the GBP for profit takers that realized solid gains last week. This is either going to be a bounce off of this fib zone and higher, or it'll come back down and continue down.
trade active Reasons for entry: Rejected in .5-.618 fib zone. Bullish daily price action taking place.
Dead cat bounce from current location Bearish engulfing candles on weekly & daily charts t1 - 1.42 t2 - 1.4 After we reach t2 we could look for potential long positions.
I entered this trade on friday right at the trend line. I have another pending long order if I'm stopped out right near the 86.00 zone. My logic is: A) bullish daily/weekly price action B) Trend unbroken C) Test of fib .5-.618 (green area) So far so good.
gold may be a long trade. Was rejected in fib .5-.618, it just needs to bread the 1300 resistance zone.
Long on NAK. Looks like a breakout of the triangle. Gold is looking nice and bullish too. Miners have been lagging. White line is when my call options expire. Lots of upside here.
There is a breakout to the upside on the weekly chart. DMI looks consistent with an uptrend. RSI shows some hesitation and perhaps a break in the structure from its prior convergence with the price action. We must admit, the trend is still intact, and we barely beat the recent highs. I will contemplate a long order at 1276 with stops at 1265. My instinct is...