Price impulsively broke the upper resistance trendline of the downward channel above 120.200, came back to retest, and held above 122.500 - recent high. We are looking for a push towards 127.500 prices.
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looking for buyers to kick in so that we can sell to them
The market broke the support and retest at the resistance line and gave us the opportunity to SELL. SIMPLE TECHNICAL ANALYSIS :)
Be careful with commodity correlated pairs. you don't want to hold for too long when trading on lower timeframes.
Technically, It seems like a pretty good breakout.
Take profit 1 hit. some news came out for CHF(SVME PMI)**and were positive. it will give CHF alil bit of strength- GOOD NEWS FOR US, WERE STILL HOLING. I also added some positions.
CHF Retail Sales (YoY) (Feb) expected to be worse than previous but actually came out better. NZD overall weaker
I just went huge on Nas.//TP1 Hit. Just locked in over 70percent profits. The SELL might happen sooner than I thought. but either way, I'm more than prepared. More details on the chart. Stay Safe :)
Will it break the resistance and trend higher?
A very strong close indeed- Everybody will be looking for SELL orders after the break of the trendline SUPPORT I think that's too obvious for the BIG BOYS. I think the market will break the SUPPORT allowing more sellers to come in, and then spikes up, taking everybody out. Notice THE BULL FLAG? i think the buildup will happen right at the top of the flag before going up
CAD fundamentals-strong. take Crude Oil into consideration
This pair will continue to go even higher. Hold on your buys Remember, Don't just trade patterns. This is absolutely beyond technical analysis.
Great investment opportunity/The impact of the COVID-19.