Channel Continuation Good Day Traders, I'm looking to continue selling AUD/USD in this descending channel. I've highlighted a good entry should it provide to us a break and retest of the 0.7250 zone. I feel a retest with selling pressure of the channel would give good confluence to continue trading lower down to 0.71500 Area. My TP will be slightly above this...
Good Day, We can see in recent times XPT/USD has been trading in a Range. We are looking at a short setup back to the 970.00 Demand Zone. Price has successfully Break Close below the 200EMA and Retested with continuation candles short. This I refer to the BCR + C pattern. The trade setup offer a great RR ratio and with good confluence paired with recent price...
I will always look for confluence and price action to confirm my analysis. Bounce from 0.382 Fib level would indicate good momentum and bulls in control. If BTC retrace to 0.681 Fib level I would still look for buy entries as EMAs could act as dynamic support and price action will confirm this idea. (Only trade with multiple confluence factors confirming your analysis)