Falling wedge with 5 hit points, approaching a 6th and final one for a strong breakout. Excellent previous structure support (indicated by the horizontal black line) asking for a rebound into the upside. I think that this falling wedge will accentuate the rebound off the support line. Major bullish divergence on the RSI occurring in the oversold region. ...
THIS IS THE MOMENT I HAVE BEEN WAITING FOR A LONG TIME! The price now break and close below the support + trend line!! CLEAR HUGE BREAKOUT! SHORTTTTT! Previous trade: Hit 100 pips
AWAITING FOR THE PULLBACK AND PRICE ACTION, PRICE LOOKS EXTENDED & COMPRESSED
In general I am bearish on oil, however if we breakout of this short term downward flag, I'd be interested in buying any retest of the top of the channel. I will only go long if we breakout and confirm above the channel.
If so, target @ 1.7000. It might be choppy and sluggish during asian session, however, there is potential for a london open bullish rally
Fresh out of a breakout from yesterday. Looking for a rejection at a support level of 0.7170 Weakness in USD / Lot of buying pressure Entry: 0.7170 SL: 0.7140 TP: 0.7280
Target is predicted at 0.80500 = 500 pips. Good Luck!
A Valid Symmetrical triangle formation with more than 3 touches on upper trendline and 2 touches on lower trendline kindles our interest to watch this for Breakout Direction. Almost from start of this week GBPUSD consolidating within the triangle and with the volume decline, Am expecting a breakout soon. Hit Likes for Agree... Comment your Views... Happy Trading !
USDCAD has retraced almost back to Daily Support and is balancing just ahead of the Support Zone. These Balance Area's make for good Breakout trades. Balance areas are simply just Accumulation or Distribution (we don't know which one it is until the market tells us, which is done by breaking out). This trade will be valid which ever way it breaks. I would think a...
GBPUSD on the 1hr has broken out of its Rising Wedge Pattern.. Look for a downside move back to structure and possibly further. I'm short @ the Break and Close out of the wedge. Stops are 1 ATR above the Breakdown bar Targets are shown on the chart.. I only trade 2 targets.. But i wanted to give you guys options are where good targets can be.
USDJPY has been putting in this Rising Wedge Pattern. These tend to break to the downside. The Rising Wedge is also occurring at Resistance. I'm waiting for the Break & Close out of the Wedge on the 60min before I enter. Stops - 1 ATR Above the Breakdown Bar Target #1 - Measured move of the Wedge Target #2 - 78.6% Fib Retracement You can you also use just...
You're going to be breakout trading. Follow the trend 'till you see reversal. Fibs an old highs and pools of liquitiy are likely places to see reversal, so keep your eye on it. *Warning, Forex trading is high risk, always use a stop* I'm going to place my stop at break even, and make it move with the trend as it progresses.
Here we have some very simple USDJPY analysis. I have a bearish bias on this pair however due to price sitting at around support currently I have provided a long scenario target. As we can see from the analysis USDJPY has successfully broken below what was a Major Monthly Ascending Trendline. The short term trend is also bearish on this pair. Taking all this...
USDCAD has had 9 Straight days of Advance and has been VERY Bullish. It's currently in a nice Rising Channel. The Balance Area at the highs looks like Distribution to me. A lot of times this is a "topping pattern". So, I'm waiting for a Break & Close out of the Balance Area (Yellow Box) and will enter a short position. Stops - Will be 1 ATR above the Breakdown...