The trend is upwards on 15 min chart. Bullish Engulfing candle at the LH will now move towards the next HH.
XAUUSD / GOLD Short biased on the following basis: 1. Downtrend: LH and LL According to the DOW theory gold is making LL and LH which means the price is continuously moving down. 2. Shooting Star Candle Stick a shooting star indicates the downfall in price as well. 3. Parallel Channel Resistance The price is moving in a descending parallel channel and now the...
Euro (EUR) / British Pound (GBP) short on 1-month timeframe This biased is formed on the following basis: 1 Shooting Star at New LH 2 Indication of downward price movement 3 Currently the price is testing the resistance level 4 Downtrend Continuation 5 Formation of new LL 6 Price has retraced up to 0.5 Fib however, it can still go down further up to 0.618...
Formation of Red Heikin Ashi candle at HH on 15 minutes Correct: TP is around the support area, not resistance.
Trend: The overall trend is downwards. Candle Sticks: Formation of Tweezer Top at the new LH. Fib: Price has retraced the 0.6 level from the last rally. TP: Near the support
Trend: Bearish Candle: Inside Bar Support and Resistance: Support near the TP and Resistance at LH Parallel Descending Channel
Trend: Downwards Candle Sticks: Bearish Engulfing Candle Parallel Ascending Channel Breakout Formation of new LL which indicates the trend reversal Fib Extension and Support levels are used to set TP
Trend: Upward Candle Sticks: Tweezer bottom at the new LH. Support & Resistance: Support at LH and Resistance at TP1 and TP2. Fibonacci Retracement and Extension: Retracement level of the previous rally is around 0.6 and the next HH would be around 1.2-1.4
Trend: Bearish Candles: Three White Soldiers. Support & Resistance: Price moves up after testing the support. Fibbonaci Retracment: Tp is set to 0.5 fib levels.
Trend: Bearish Candle Sticks: Several Bearish Candles; hammer, inverted hammer, bearish engulfing, etc. Support & Resistance: Price is testing current support. Parallel Ascending Channel Support:
Trend: Upwards Candle Stick: Inverted Hammar at new HL Support & Resistance: Price is testing 1D support. Parallel Ascending Channel: Script is moving between this. Fibonacci Retracement: Price has retraced up to 0.5 level of the fib. SL: Previous HL TP: Fib extension 1.2
Trend: Overall Bearish Trend Candle Sticks: Shooting star at the recent LH. Resistance: 4h Resistance Level Parallel Ascending Channel: Break Fib Retracement: The current price is at 0.5 of the previous bearish rally. Reasoning: 0.5 Fib retracement, channel breakout, and shooting star indicate that price will likely go down from here.
Trend: Overall bearish trend Candles: Several hammer candle formation indicates prices can go up. Support & Resistance: Price is respecting 4h & 1D resistance levels. Descending Parallel Channel: The price is moving within the channel.
Trend: The overall trend is upwards. Candle Sticks: Double bottom formation near the resistance area. Resistance & Support: Price is respecting the 1D resistance area. Reasoning: The formation of the double bottom near the resistance area indicate a small pump in the price. TP: Near the support level. SL: At the previous LH of the chart.
Trend: The overall trend of the chart is downwards. Candle Sticks: Formation of shooting start at the LH of the chart. Support & Resistance: Price is testing the 4he resistance area by making an LH with a shooting star. Reasoning: The formation of a shooting star at the LH of the 4hr resistance area strongly indicate the price will go down. SL: Place at the...
Trend: The trend reverses as it has made a LL and LH. Candle Sticks: Bearish candle stick at LH of the chart. Parallel Descending Channel Resistance: The candle is formed at the channel's resistance. So the overall reasoning for taking a short from here is trend is downward making a descending channel with the formation of evening star at the channel resistance...
Trend: The overall trend of the 1hr chart is upwards. Candlestick: Formation of the first green candle at the support of the channel. Upward Parallel Channe: You can clearly see an upward parallel channel and the price is bouncing back from the resistance of the channel. SL: At the previous LH.
Trend: Bearish trend followed by LL and LH. Support/Resistance: Blue lines are S/R levels on 1D while red lines are on 4h timeframe. The reason behind the Short: A hanging man was spotted near the 4hr resistance at the LH of the chart. It indicates the potential downfall of the price towards the lowered support area. SL: It is placed on the previous LH of the...