Price shot back into my descending channel , do you think it will break to the upside , i have been avoiding trading any pound pairs lately, however is this recovery long term or short term ?
i stick to what i see on the chart , maybe some fundamental analysis would say otherwise, it would be interesting to get a different perspective.
Price nicely broke to the upside of what it appears to be an ascending triangle,
Goo opportunity for longs .
Those formations - ascending triangles - are bullish with the uptrend reaching the length of the base of the triangle that the price broke out from .
Surprisingly in this occasion that 's the length required to fill the gap looking left after that huge...
Bullish divergence on the Daily on the MACD and the RSI - green line
We can see how the price consolidates inside in what it seems to be an ascending triangle - blue line. Formations like this tend to break upwards.
Regardless the direction of the breakout , we currently trade in the low are of the consolidation and just bounced off the demand trend-line...
prediction , breakout on major resistance , minor res broken, price retracing as it is the end of the week , amazing that price literally stopped at that resistance right there, otherwise good momentum even on higher time frames
opinions and engagement welcome as always
price is going back into the lowest zone of my key zones , so that is also part of my...
EURCAD - Short
Entering short because of the consolidation.
i have entered short now for reasons such as
>it doesn't seem to be able to make HH's
>Daily TF we are down trending
Will be entering again once there is a breakout candle to the downside.
Any questions feel free to ask
The only time I love trading breakout is during news releases. One of such will likely present itself later today during FOMC meeting minutes release later today. With AUDUSD showing a falling wedge on H4, a long trade at 0.67426 could land a quick pips
The usual breakouts for these triangles is within this box, 75% of the triangle is on the 22nd September. On the 23rd BAKKT launches.
Ive been assuming we trend sideways for 6 months, but i cant ignore this- I get the feeling a huge dump or pump is coming (NO IDEA WHICH) out of this traingle, I just found the BAKKT launch date all too convenient.
Time to buy a...