H&S top looking all the way to 1.38 area where major fib resistance and multi year support lies
This stock was in falling channel from 2015 before finally turning the trend after bottom in early this year, after price broke out of the falling channel of two years stock price started inverted H&S pattern. This week's closing candle closed above the neckline briefly and setting the target to 490 level to the upside from current level of 404 per share. This is...
Nice risk reward setup but careful with economic events, this trade is purely price action
AUDUSD daily this pair is stuck inside a range from 0.72 to.078 from past one year.We have already seen three price rejection on 0.78 area now and it is heading to 0.72 which it usually bounces back to retest 0.78 area. However when ever price retest 0.78 zone it is forming a lower high and its a sign the pair is not able to hold near to that zone. So here is the...
check my previousfor rational of this trade
AUDUSD broke descending triangle on daily time frame, in H1 it is forming a wedge break below will confirm the leg down towards .73000 area which in confluence with 78% fib and daily triangle's target. It may retest the H1 wedge's resistance before moving lower or break it and fall. Non pay farm payroll ahead......HEDGE YOUR RISK PROPERLY..
Every time it touches the resistance line in downward channel it falls down (-0.82%), it tested the upper resistance in channel fourth time so should retrace around .98800. Further confluence to weekly fib and support in channel around .80098