Trading within the confines of a small channel down here few important fundamental updates later this evening..
for this one i just left it bear for you to have a look a what i'm seeing on the charts right now. Real choppy it's best if you can to just stay away it doesn't hurt to actually save some of the potential loss.
This pair's fate will be decided in the next couple pf hours to a day. with news coming out on both ends it's going to be very interesting to see what actually transpires. Nevertheless, bear in mind that we are at a neck line resistance.. As such, text book analysis would tell you to watch for a rejection at these levels especially after the heavy retracement...
1. Australia will be unveiling reports within the next hours to day or so, a. Westpac Consumer Confidence Index (SEP) {Approx 2 hours 25 minutes from now) b. Employment Change (AUG) (sept 15) 2. we Are now at a strong support cluster that could validate this fake out as a bear trap.. (This is a perfect candidate to trap bears who are short) 3. Price action...
the first post was more so general. Here, i decided to add some more context and food for that. So as to create a possible learning experience from my thoughts.. What do we know? 1. The general trend is bullish 2. We are consolidating at highs of a sloped channel. 3. USA has fundamentals to impact price action tomorrow. 4. We can identify a clear channel...
I've been a lone wolf on this pair now for two weeks i believed it was bullish when others said it was bearish vise versa. Now it's holding up better than expected. Notwithstanding, price action isn't looking to be having much bullish strength hence be careful longing or being a bull on this one it's almost more probability beneficial if you even sit it out as it...
Well i fell asleep so forgot to post this one a bit earlier my apologies on giving you guys this gem earlier. With momentum poring in with bullish action, this should bust through the support. That is, the around the support area draw on the chart. Since it broke pretty strong resistance.
let's take the time to analyze this beautiful channel with potential breakout to the upside.. Once broken make a lil room for a retest and continuation in said direction. ~be patient~ ~think long term and profits will add up~
A small trade i took this morning. waited patiently for the over sold high tail candle bounce and trading on the momentum for a nice 3:1 risk reward setup beautiful trade. ~always, always be patient and wait for the trade to come to you~
Another way you can increase your profitability is avoiding flat price action or channel plays... trading the breakout of channel either way historically provides a better win chance and a better chance of risk to reward. Sometimes, it's better to sir on those hands! wait for the trade to come to you...
I understand that there is multiple of bearish analysis out there. Nevertheless, EURCAD's strength to hold up this Friday is not to be played with. A lot of positions wouldn't have been held due to coming holiday so the selling pressure could be artificial and suggested. Now, for a short wait for a retest and fail as shown by red line For a long wait for a...
Now, now hear me out i'm not one of the greatest fan of meme world but heck this is lining up a very long line to a very profitable next couple of weeks. Now, bear in mind this is a phase and frenzy so could totally be shot down if the market makers decide to. Chart speaks for it's self.
Spy has been doing beautifully. But the price action has been hampered in part by the economic outlook that was presented these past few days. As such, i do look to see a breakout of channel to the downside may not be a crash like most are calling it but just a correction and most like V's it way back to 460's
Based on the underlying fundamentals and rumors of rate increases NZD maybe be inline for breaking yearly highs..
wait for exhaustion at 74's before entry to 76's... Australia has news coming out as well, RBA Interest Rate Decision may not have a big impact but, be cautious and trade accordingly. should see a continuation of the weekly change in trend which is now strongly bullish.
I'm bullish on this but wait for "exhaustion", see blue line . After which you can expect the strong trend (upwards to continue). Which will be followed by a firm breakout to pushing out of triangle firmly. For those who are thinking it's a short please note those three hard rejections (hot pink circles) note how it failed to overcome that area over and over. AS...
Guys it has been an tremendous run. But it's not over looking for more downside.. simple enough.. weekly candles showing great momentum to the downside.
Overbought, though this doesn't mean much does indicate and over extended price action ( {RSI} see 4hr Chart ). Secondly let's talk about basic support and resistance, here as can be seeing we are also at critical levels. it's only evident for us to expect a pull back at these levels but as you should know, it doesn't work like that. Also, it is trading...