The triangle formation on the chart is a sign of neutrality in the market but I guess you do not have to be a genius to figure that out. The market has been very volatile lately and here is what I think will happen :
What I think will happen is price is going to break through the triangle formation pattern on the downside and continue going down and then find...
Today is the first Asian session of the new month. We have some decent options for GJ tonight.
1) If the current level is held we should see GJ move up to resistance at 136.450
2) If we see a break of 136.450, wait for support to form on lower timeframes to validate buys to fill a 35-40 pip range
3) If we do not hold the current level or we break it later...
We are currently trading in a 15 pip range. If we break resistance, and form support on lower timeframes, buys could be valid up to the next form of resistance as there is a 15 pip range to target, however I have highlighted a zone we need to watch with caution as it is a previous rejection area. This is why I would prefer sells, we have a much cleaner 18 pip...
We had a barish impulsive move away from the monthly TL
Price then entered a correction period before breaking out to the downside
We then whitnessed another short correction period before another break and a bearish push to the underside of the 1h 200ema
This trade looks really good, but this is forex and anything can happen.
As we can see price has correlated since creating this new higher high after a breakout of this descending TL, and we can see that we are on a strong recent support level backing up this idea that we are due a break to the upside with DXY also breaking out of its descending TL and oil still looking weak.
USDWTI H4 - Manic market behaviour off the back of Powell's talk earlier on today, nice break and retest here on western texas, looks like we could be gearing up for the next move upside, effectively looking to push that H4/D1 channel resistance. Manage to find support even after the USD volatility.
This is a trade idea for the German Dax market. Price this morning has reacted off yesterday's high thus confirming the double top reversal.
My trade idea is now enter a position long on a breakout of this pattern with my entry price above the pivot level as marked on the chart.
I'm looking for a clear breakout of this level and a strong push up back into the...