Break out or breakdown? What's you don't see often is that the RSI is making lower lows while the price is making higher lows... if I'm correct that should indicate breakdown? Correct me if wrong.
Price has broken and retested support. Bullish engulfing day. Target 1 1.3500 zone.
Bearish bias on pair and price has formed a shooting star at Res zone. Stops above previous swing high. Target 1 127.00 Target 2 125.00
AUDCAD is now sitting on key level of support which was a key level resistance. We have logical entry and target point with a potential 5 to 1 winner.
NZDUSD is sitting on key level support in line with the bullish momentum. Price had just braked out on the recently created inside bar pattern, a consolidation-continuation pattern in the market. An ideal entry is a buy stop above the high of the pinbar and we have enough room for a decent risk to reward ratio. Trade Safely.
USDJPY prints a perfect classic stepping-like downtrend. With just a naked clean chart and a simple understanding of price action trading, you can easily spot high probability entries. Now price is hanging on key level resistance and we few bearish candlestick signals. Lately the market created a pinbar and an ideal entry is 50% range buy limit entry on the pinbar...
Watch for any break of trend line. Multiple confluences, starting off with the indecisive candles retesting off the monthly 50% FIB and the weekly Support lines. Gathering the momentum from these indecisive candles and if the news release projects positive numbers I believe there could be a break of the weekly trend line, pushing the EUR/JPY into a fresh new...
Bearish PA: Tweezers at Desc. TL Rejection also CTL retest Tweezers also occurred at a daily 61.8% fib bounce level Pair has been in down trend for some time and after a short burst up formed a double top and has started putting in lower lows and lower high's.
Shorting this pair due to the multiple pinbars forming at this important resistance (previously support). It has broken out of the channel and due to the pinbars i doubt it's a fakeout. My risk:reward is a good 1:2, message me with any questions. Hold your thumbs!
As you know, Drawn SR of strong S/R levels on chart - 61.8 reversal currently in action.
Represented by the Green box, we can see a convergence of EMAs and MAs as i mentioned in the last post. EMA is crossing to the upside and StochRSI signal is also crossing to the upside, MACD still shows a bullish divergence if zoomed out, represented by the blue dotted line. My next target is the zone represented by the blue box as this is a major level if you...