Fellow Traders! I have spotted a potential trading opportunity, GBP/USD (LONG)
Consolidation & Bullish Breakthrough
Resistance at a key support level
Rejection At Fib Level 61.80
Previous Strong Bullish Momentum
EURUSD is essentially in a period of consolidation, with a slight indication of a downtrend as price has just recently rejected crossing the 13EMA. This area is green will be an area that I look for possible long trades out of throughout the week.
Daily Support Zone (1.07250-1.07960)
Daily Resistance Zone (1.09745-1.10220)
Cadjpy has reached a minor supply zone . Looking like price is slowing down after the bullish candle however, It hasn't slowed down enough for me to actually say that this supply zone will hold due to the bullish candle.
However, price has two areas of supply so if the recent one breaks than I can look towards the next supply zone and map out entries for future...
This is an update on the biggest bull run in history.
Watch out - the DJI could head for the moon, or hesitate (consolidate), or fall grudgingly before charging north or south. Eh? Like some people might have wanted me to make a commitment. I'm not doing it, cuz the whole thing is extremely ridiculous. LOL!
Right - so this is only about possibilities and...
Burford has broken out from its post-Woodford drop. Clean air up to the resistance and fib area, around 1050-1100p. I'd expect a few early opportunists to sell out here though, and have it retest the breakout area.
Bullish divergence on the Daily on the MACD and the RSI - green line
We can see how the price consolidates inside in what it seems to be an ascending triangle - blue line. Formations like this tend to break upwards.
Regardless the direction of the breakout , we currently trade in the low are of the consolidation and just bounced off the demand trend-line...
EURCAD - Short
Entering short because of the consolidation.
i have entered short now for reasons such as
>it doesn't seem to be able to make HH's
>Daily TF we are down trending
Will be entering again once there is a breakout candle to the downside.
Any questions feel free to ask