Structure: Descending parallel channel breakout.
Plan: We have seen CAD/CHF trading within a tight descending channel, however it appears to have broken out. Before a possible long we need price to confirm the breakout, with either a horizontal level of resistance or the upper channel line before a move higher.
AMD pivot breakout on above average volume. Volume was below the average and declining during the consolidation. It is under the moving average but price action is looking strong. Nvidia is leading the way at all time highs after breaking a long term base and I am looking for AMD to start following in the same direction.
Stop-Loss: $78.95 (-4.78%)
In our last analysis of SHIBUSDT, we were waiting for the breakout of the descending channel. Price dumped a little before breaking out. This is why it's really important to wait for confirmation via a breakout. Price pushed up 57% from the breakout!
We now have another bullish correction and we will be waiting for a breakout to gain another entry!
From the chart you can clearly see the different phases of the market - Impulsive & corrective phases. We've seen several bullish corrections this year and we look to be in another one. This pattern is almost identical to the one we had in January 2021 which ended up topping off at 205% increase from the breakout!
We could be in a very similar situation here. Pay...
Structure: Channel / Breakout
Plan: We previously stated that GBP could bounce off the lower boundary and make a move to the upside.
What followed was a breakout of resistance and what appears to be a confirmation of the breakout.
We now look to take a sell to previous low.
Please wait for MACD and stochastic confirmation as MACD is slightly bullish
Gold is likely to see a retest of 1884 area before a roll over targeting 1850. A break above 1884 will make this trade invalid.
DXY (USD Currency Index) has broken above 90.200 with a strong bull run which shows us strength in the USD in the short term at least, potentially moving into the longer term.
This position is an Intra Day - Swing depending on market...