Looking to sell from sell area one and take profit at area one (potential 30 pips)
Enter on price action and reversal candle,
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On the daily chart: SXX gapped down through its 200 EMA, a bearish sign
BUT found support at 23.5 on it's weekly 200 EMA
Stochastic on daily chart is trending down and could result in another decline
Also filling the gap at 31.72 could trigger fresh round of selling.
Let's see what happens.
Having lost respect for the 200 Day Moving Average by dropping under in early March, this trend line is now predictably acting as strong resistance. Expect further failed attempts to push above it over the coming months.
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The 200 MA is providing resistance and the 50 MA is providing support. This is most likely a flag pattern, and the ADX is about to go green so will most likely be bullish. But, since the earnings report is coming out today, I have chosen to create buy and sell orders.Also, due to past earning reports the volatility is very high so I expect the same to happen.
The asset has also provided a flag pattern and now is in a flag pattern again, the 100 MA will provide support the price, and the Coppock curve is a in a triangle pattern and it will most likely breakout upwards to be positive. Also, this is backed by the volume decreasing showing a breakout is Imminent.
The pound seems to be in a very large flag pattern, but a mini triangle pattern, so this brings about the perfect swing trade,the 200 MA will provide resistance and so thats the stop-loss, but the short is when the Pound drops below the 100 MA till the lower support trendline.
The EUR/USD will most likely increase in price to the 200 MA and the 100 MA will provide support, as shown in the past, furthermore the CCI seems to be in a ascending triangle pattern so there could be a short-term increase in price coming up.
& analyzed it again
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