mominmechan

mominmechan Apr 4, 2024

NASDAQ has had a good bullish run, however the weekly and daily charts suggest slowing momentum. The completion of AB=CD harmonic pattern with the price entering the critical price reversal zone on the weekly and a huge bearish divergence on daily charts are indicators of a potential reversal. We will have to keep a close eye on the daily chart and look for...

mominmechan Feb 5, 2024

AUDNZD has made a bullish harmonic pattern which along with a bullish divergence on RSI could indicate a trend reversal. Entry can be taken at the current price with stop loss below the point D and TP at 1:1 Risk Reward.

mominmechan Jan 8, 2024

GBPJPY has tested the major resistance and is showing sign of reversal based on bearish divergence on the RSI, Trade can be taken at the current price with stop loss above the major resistance and Take profit at 1:1 Risk and Reward.

mominmechan Updated  Jan 5, 2024

CADCHF is showing strong bullish signs after making a bullish divergence on the RSI and printing new higher highs and higher lows. Entry can be taken at CMP (0.5 Fib retracement), stop loss below the previous Higher Low and TP at 1:1 Risk Reward.

mominmechan Updated  Jan 4, 2024

GBPUSD made a very strong bearish move and tested a major support level, but the pull back is not strong enough as compared to the previous couple of times same level was tested, which can mean a trend continuation is most likely. A bearish flag pattern without any bullish divergence on the RSI is also a strong indication that if the support is broken it will...

mominmechan Updated  Dec 11, 2023

ATRL has formed a bullish flag pattern on the daily chart, RSI is not showing any divergence, entry can be taken at the breakout of the flag pole with targets at 1:1 and 1:2 risk reward, which are coinciding with the flag projection.

mominmechan Updated  Oct 31, 2023

LUCK - Inverted head and shoulder pattern is witnessed along with a bullish divergence on the RSI. If neckline is broken entry can be taken with 1:1 and 1:2 risk reward. Take profit 2 is kept just below the major resistance area.

mominmechan Updated  Oct 16, 2023

NZDCAD - A harmonic reversal pattern is being formed with the defined potential reversal zone (PRZ), It will most likely test the PRZ and make a downward move. A bearish RSI divergence is also supporting this idea. Sell stop entry can be taken at the breakout of previous Higher Low with TP set at a 1:1.3 Risk Reward, which is coinciding with a strong demand zone.

mominmechan Updated  Oct 13, 2023

TRG - It is trading near a very strong support area and also a bullish divergence is witnessed, which can be a sign of potential trend reversal. Entry can be taken at the breakout of previous Lower High with 1:1 and 1:2 risk reward and TP set at a resistance area.

mominmechan Sep 4, 2023

GBPAUD - A descending channel is formed and with RSI in the neutral zone, bearish trend will potentially continue. Entry can be taken at the current price which has confluence of Fib level 0.618, Descending Channel upper trendline and bearish engulfing candle. Stop loss is at the previous Lower High, TP1 at 1:1 Risk Reward and TP2 at 1:2 Risk Reward.

mominmechan Sep 4, 2023

CHFJPY - Bullish trend was observed after a bullish divergence on the RSI. Currently RSI is in the neutral zone, indicating there is more room for the trend to continue. Trade can be taken at current price with stop loss at the previous Higher Low, Take Profit 1 at 1:1 Risk Reward and Take Profit 2 at 1:2 Risk Reward.

mominmechan Sep 4, 2023

CADCHF - A huge red candle after a bearish divergence is observed, breaking the previous Higher low, which indicates trend can potentially reverse. Confirmation will come if further Lower Lows are formed. Trade can be take at the breakout of the previous Lower Low with stop loss at the recent Lower High, TP1 at 1:1 Risk Reward and TP2 at 1:2 Risk Reward.

mominmechan Sep 4, 2023

NZDJPY - A potential continuation of bullish trend on the hourly time frame is indicated by a bullish flag pattern. No bearish divergence on the RSI also supports the idea that trend will continue. Trade can be taken at the current price with stop loss placed at the previous Higher Low, TP1 at 1:1 Risk Reward and TP2 can be set at the Bullish Flag projection.

mominmechan Sep 4, 2023

AUDCHF is moving in an ascending channel on the hourly timeframe, RSI is within the 30-70 range which indicates that there is room for the bullish trend to continue. With no divergence in sight, we can buy at current price keeping stop loss at the break of previous Higher Low, Take Profit 1 at 1:1 Risk Reward and Take Profit 2 at 1:2 Risk Reward.

mominmechan Aug 22, 2023

XAUUSD - Harmonic reversal pattern is formed with divergence at point D signal potential trend reversal from the defined PRZ. Entry can be taken at the breakout of the recent Higher high.

mominmechan Aug 22, 2023

XAGUSD - A Harmonic Bearish Butterfly pattern is completed with a divergence pointing a potential reversal in the trend from the defined PRZ. Entry can be taken at the breakout of previous low.

mominmechan Aug 21, 2023

AUDNZD - Harmonic BAT Pattern is forming with PRZ defined. We can take entry at current price as point B has been broken. TP1 is kept below the PRZ.

mominmechan Aug 21, 2023

NZDJPY - Harmonic Reversal Crab Pattern is formed with PRZ defined. Entry can be taken at the breakout of previous lower high.