WE have a double top, cant cross the 0.168 fibo level and the alligator start to open up... BUY
Criteria meeting long set up: - low test bar close - support at ~4450 - trend line support (third test) - rejection of 200 ema - ascending triangle pattern entry - above high of low test bar stop loss - below low of low test bar target - at next resistance level or higher
Went short on USD/RUB based on the consolidation inside the ascending triangle pattern. Entered at 71.1087 with stop-loss at 72.05 and take-profit at 67.12. More info and timely updates: www.earnforex.com
There is a very nice potential rally on FX:AUDUSD . As we see price has broken a bearish trend @0.7021, then made a pullback, then tested the high @0.7040 and now is ranging in ascending triangle. If the price breaks the triangle and makes HHHC, then we are in a bullish market. Our potential target is next structure @0.7096 with the confluence of 1.618 fibs...
I predict that a long trade would be most suitable in the next two days because of the formation of an ascending triangle pattern. This ascending triangle holds a resistance level at 124.560 which has only been tested a few times. As the resistance level does not hold such a high significance, it is more possible for the break-out of this pattern to result in an...
Hello Traders, After seeing FX:GBPUSD consolidate within a range for the past 30 days, we have gotten the emergence of 3 Simple Chart Patterns that could present us with good opportunities to LONG on this particular pair. I have color coded all 3 Chart Patterns in the chart above, just to make it visually easier for everyone. I will walk you guys through...
Last week the dollar weakened prior to FOMC, helping the Cable rise during the first three days of the week. The UK GDP coming out as expected also supported the rise; illustrating the economy is doing well. In the FOMC statement on Wednesday the FED referred to solid job creation and said there will be an increase in interest rates following 'some further'...
Update 2: Stopped Out Update 1: Close above highs - Trade is Active Possible Wolfe wave setup on GBPNZD. Long on 60m close above recent highs. After resistance at 2.339 is broken there is little to hold the pair back from reaching the 2.36-2.37 TP zone. Trade will become invalid if price closes below bottom of parallel channel.
Twitter may be finally showing some signs of strength by putting in higher lows and repeatedly testing the previous support now turned resistance. Will be looking for a confirmation of the trendline or a break of the resistance on high volume.
Last one for the evening. It looks like TWTR is breaking its lower trendline on the ascending triangle pattern it was putting in. The small wick at the top of today's candle stick could have been a backtest of the trendline and appears to be forming a bear pennant formation in the short term. Will be waiting for confirmation that it is going to continue to the...
Just noticed this interesting pattern. Price is pressing up against $224, but if it doesn't break out soon, then it's not going to.
It looks like an ascending triangle could mark the beginning of the small rise I was expecting to re-test the recent highs, touching the long-term downtrend line, which we haven't done yet. These mid-range trades are a bit risky, but the signals are clear enough if it breaks $264. If you take this trade, it would probably be best to keep tight stops at $255-$258.
Here is my take on how to trade BAC's ascending triangle. If I were to take a position at the current price of about 15.68 and set a stop between 14.92 (on the tight sight) and 14.72 (on the looser end) I would be risking anywhere from .70 to .90. Say I take a stop at .80, well my target is actually below the previous high ranging from 17.5- 18.0, making my...
In H1 TF I found a nice Acending Triangle Pattern, if break this triangle, I think this pair may be go to 1.30 level which is very strong resistance. And this pair is also in uptrend mode. We looking for Long position after break this above resistance line of triangle or after retrece from this resistance line. And put stop loss near swing low point of this pair....
The uptrend on the daily is progressing nicely. Volatility is still relatively low, which is a great sign for a strong trend. This is shown by the ATR indicator which is the 10 period ATR versus the 200 period ATR. RSI is inching close to 70 which is likely to go above 70 for that final push we need to break above $305. The price has formed an ascending...
A descending triangle is shaping since the 14th of Februari. Notice that this triangle is forming after a pretty bullish trend starting from December 2014. This could mean a trend reversal triangle. There were still people buying up the 1.9600 level. I assume they have a relative tight stop because the first stronger support level is at the 1.9380 area which...
I still say this one could go either way, but the market is starting to show a clear bullish preference based on the ascending triangle we appear to be in. A break above recent highs would create a good long opportunity and a break below recent lows would break the bullish trend and confirm bearish targets outlined on the chart. I'm marking this idea as "long"...
GBPAUD has been a pair that we've been tracking for about a month now. For the past w\few weeks we've been waiting for the ascending triangle breakout and now that it's occurred the next chance to get long would be a retest of structure. As the market has wiggled it's way down, we've set up a potential bullish Gartley pattern that can be used to take advantage...