I have marked areas prices have hit previously, I have used these as support & resistance lines & from this I have generated possible entries for either Buy or Sell. This think. could potentially be a Short.
All Elements Published is NOT Investment Advice.
Please let me know what you think.
EURAUD continues to look like it will carry on the long term bullish trend line with a recent bullish inside candle.
Trade idea here is to look for a quick burst up in bullish pressure prior to the price hitting major resistance.
SL - 1.60373
TP - 1.62201
1W Chart shows that price is moving in consolidation in this triangle pattern and that the exchange rate is above the 200 EMA, therefore suggesting the current direction of price is still upwards:
-Price can exhaust outside of a resistance/support zone. It's not forced to stay exactly within restricted channels. I would...
Morning again traders,
Looking at a short term trade on Gold versus US dollar after formation of a bearish candle pattern on the 2 hourly Advance and a Bearish Harami on the 4 hourly both of which point to price action moving lower over the remainder of today.
Looking for a move back down to support levels around 1389 over the coming hours as per our hourly...
EURAUD rejecting the resistance zone at 1.63500
2 nice daily wick rejection candles and it appears the 4hr bullish trendline has now been broken. I am aiming for 1.60 before waiting to see if price breaks through the daily trendline marked on the chart.
Stop loss placed above the wicks to avoid any SL hunting and further tests of resistance.
US dollar versus Japanese Yen flagging a bearish pattern with the formation of a Bearish Harami as RSI hits resistance level and Stochastics trade in extreme overbought territory on 4 hourly.
Looking for this pair to head lower from here back to 108 levels then a potential break down to 107.5
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the chart remains simple and tidy, however, there are many different tools to indicate and support our directional bias, in this case, GBP/USD has shown extensive pressure towards the downside, however, the price was unable to penetrate the dynamic area of support 1.26000. Based on previous price action this area showed a lot of liquidity hence why became an area...