BAC broke out of the triangle it has been stuck in for a while. as tech stocks dumped, it could be a good time to jump into financials. especially with that breakout.
As i have said many times when we don't have any thing on left of the chart we will have to use Fibonacci, Price structure and channel or other tools like WD Gann analysis. On hourly chart we can see that price is near 2 Fibonacci levels and moving sideways. With the side ways movement price came out of up trend channel. This indicates that buying pressure is...
Yes, that's for sure. I realized that a lot of excitement around the future president and his inoguratsii. Many who are against and who is behind. And this all the noise interferes with the right choice to make. This is a market and then anything can happen. It may happen that some fear. It can not be foreseen. Tomorrow propose to closely monitor the market and...
1)Price failed to break and close above resistance zone @ 0.99040 + triple top formed @ 0.99500 zone 2) False Break and retest of descending price channel 3) Daily support broken @ 0.98402 zone 4) Previous Daily candle closed as an bearish engulfing 5) MA's spiralling to the downside adding confluence to bearish momentum 6) A break of the trend line will...
From what I see, two spinning tops formed at the bottom of what could be the neckline of a potential head and shoulders formation, indicating there may be a reversal of direction. I am waiting on some more bullish confirmation from the daily chart however you may find some good long opportunities on a shorter timeframe. Good luck and please trade at your own discretion.
1) Multiple price rejections for further upside @ resistance level 104.987 2) A Break of trend line & break of support zones 103.5352 & 103.358 will warrant shorts. 3) Target 1 @ 101.043 4) Target 2 @ 98.764 We may possibly see a new swing low if 98.764 is taken out as on higher time frames the pair has been making lower highs & lows consecutively.
Taking a long position on this pair based on the following reasons: - Break and retest of key 0.70 level - 0.5 fib level held strong - Double bottom Let's see how this turns out!