we can see a descending triangle forming after price hit a major level of resistance that in the past caused a massive drop even though price was above 200 MA. this may be risky because were still in an uptrend but in this example I'm putting patterns and resistance levels over long term trends. also fundemental analysis that Biden has won the race so I predecit a...
falling wedge pattern which may lead to a bullish breakout. I used fib to find a TP level and put S/L quite wide under resitance, just to account for a false break
Even though it isnt recomended to short when price is above 200 MA there have been lower highs and the bulls power is proven not to be able to reach the uper trend channel, also on the 4H the MACD histo has just gone red, also price is on the 200 MA on 4H.
theres a nice acsending triangle formation and I beilve its soon to break for a 40 pip bullish run, on the 1 H were above 200 MA and have a golden cross
Back for another week!! looking for a long on the EUR/USD, I'm bassing thiss off long term trends that show on the 4 H and daily, the EUR/USD seems to be having a bit of abreak right now on smaller time frames but I beilive the resistance level will eventually have to give. we can also see a golden cross of the 50 MA and 200 MA on the 4 H
another short, long term down trend with a slight reversal, from my experience (of a few weeks lol) this is normally followed by a continuation of the down trend, with a massive reversal of the short term up trend, as shown through the triangle. there was also a death cross on the 4hr of the 50 and 200 MA. S/L above MA's and above structure, S/L at previous level...
missed out on most of the downtrend, still a chance to cath some Pips. however this seems risky as the down trend is very steep and not retesting. teh RSI shows that its currently close to being oversold, bit risky
we can see the continued down trend that has been going on for a while, I would take a long term swing trade on this trade as it seems to be continuing and not showing signs of stopping, there is being a retest of the trend line. the stop loss is just above 50 and 200 MA ( which is about to do a death cross, another short sign) and a take profit at a major level...
