- Respecting 0.786 fib level at a KEY level.
- Bullish engulfing formed over night.
- Bullish pressure breaking out of this consolidation zone.
- Next key area is 1.08140, so there's a lot of potential for a move to the upside without much resistance.
In the related idea analyst, I was expecting the price to follow its channel down to the support zone and bounce of it back to resistance.
We can see that the channel was broken and we see the trend breakout.
Looking at the chart on a bigger scale, we can see a new channel formating from 2 x higher heigh and 2 x lower lows.
The price is just about to break the...
Price has pulled back significantly into the previous daily resistance zone, It is likely to see rejections from this region, if we don't see any signs of rejection and the price manages to break below the key level marked we can look for potential selling opportunities from the re-test of structure.
According to COT data source - 57% short
This pair is extremely 'over extended' as many would say but does that really exist in the current market conditions we have. I personally see a bullish continuation to the desired target level, lets see how this one plays out.
According to COT Data source - 86% are short
Bullish pennant forming. I will be awaiting a break and a retest and then entering, targeting previous key levels as a take profit zone. SL will be tight and placed just inside of the pennant formation.
I don’t normally trade on a Friday, but a pennant is a pennant. Tight stops ensure that fake-out fridays doesn’t hurt too much.
This pair is a bit of a mess.. we can see that price broke support and was pushed back up a little by the buyers.. the sellers forced price to break support so its safe to say we are setting up for a sell
I am waiting for confirmation before jumping in as price could float about before dropping
AUDNZD - SELL
SL - 1.07165
TP - 1.04209
Long scalp AUDZND.
Alligator has broken the red and blue line on the hourly, showing it is in the uptrend.
This is a late entry but it should still be valid for a scalp to the top until consolidation.
Sl for this trade is 1.04787
TP for this trade is 1.06143
My entry is 1.05411