(1) A falling wedge has formed since October, wich is a longer-term pattern, and since $MU is in a down trend since 2014, this should be considered bullish. (2) A head and shoulders pattern has completed, with target 10. Combining these two patterns gives a price target and a time-frame. Additional points: * Historically 10 acted as support and resistance. *...
GOOD DAY EVERYONE! Potential pattern formations on USD JPY 60m If D completes, then I will look for an entry to SHORT this pair! All the best in your trading! CharlieFx
Technicaly i detected a falling wedge , According to me, this pattern has not been invalid yet.. And could be interesting to play bull Let's see now how fondamental news of upcoming weeks can reenforce or invalid this scenario.. Oil price Next New farm Play-Roll publication etc.. Long at 1050-1060 stop loss at 1045.
There will be no fade. It broke out of the channel and will thus continue rising.
Read text written in the chart
Greetings Fellow Traders, If you've been following me for some time you know that my view on the EURUSD has remained bearish since we formed and broke the Super Trend Triangle. As we approach the weekly open for the last week of November and first week of December we have some interesting price action that is giving us a very strong reason to actually go LONG or...
Today's open may very well have hit the lows as it took a strong bounce from there. Other Yen pairs displaying the same price action. Further confirmation could come from break of upper trend line, aggressive positioning from current levels against the lower trend line. BOJ up this week, could be the catalyst.
Greetings Traders, In correlation with our anticipated USDCAD move...I've spotted a descending wedge on EURCAD that is trade-able. Due to the nature of the peaks however, to avoid any false breakouts I've set the following trade: Pending Buy Stop 1.43550 - Or Manual Entry Along SUPPORT Stop Limit 1.4250 Target Profit 1.4640 Straight forward trade, as I...
EURGBP has produced a bullish cypher pattern in addition to a number of other bullish signals. The PRZ of the cypher lies at a major support trendline (see chart below). A bullish Wolfe wave setup has been completed in the same area. Bullish RSI divergence is present and is also oversold at the PRZ. To add to the bullish bias, an unhit cluster of pivots sits...
We are seeing quite the textbook falling wedge pattern here. As selling pressure exhausts we can expect to see a rally from the bulls. The optimal entry will be on a break of the trend line, with stops placed below the lowest low of the wedge. Expect to see a rally up to around the 1.56500 level, with a break above the 1.57000 we can look for secondary targets.
Hi everybody ! USD has been the strongest currency since the end of 2014 summer. Does the speculation on the dollar is ending ? We are close to know it. After FOMC Yellen speech saying that FED won't be impatient to raise rates until economy recovered well could left the dollar uptrend out of breath. Moreover the stock market pressure could push Yellen in...
Zoomed out and now it looks bullish. A break above 1.1120 is a bullish signal, but a break above 1.1145 would be a strong bullish signal. Looking at the price action 1.1180 could be hit in the next couple to several hours if 20 is broken.
think there is a good probability for the EURUSD to target 1.1000. But it might not be that steep. Economic data coming up. A brea above 1.1120 and the upper line of the Falling Wedge could trigger a positive move for the Euro.
The pair has a falling wedge pattern nearing completion. Personally, i dont trade falling wedge patterns, so im waiting for the rally back up into previous support.
Dear workmates ! Last week, we saw a nice correction of the strong dollar uptrend. This correction may be over for now. USD will probably trend up this week particularly against Yen. DXY 1D Timeframe View : We have a strong MACD divergence on 1D timeframe of DXY giving a nice long signal on US Dollar. A falling wedge is forming indicating a nice long term...
Targeting 1148 and 1103. Hidden bearish divergence adds additional confirmation Minor trend line is broken as well Would be more confident when price tests 1174.05 for resistance Note: Price is trading within a falling wedge (although not complete yet), so keep an eye out on that. 1148 will be a level a watch (refer to notes on chart)