Remember guys, keep it simple!
As you can see from the AUDUSD chart it is hugging the daily trendline tight. If it breaks and it is not a fakeout, buy that Aussie to the top! If it respects the trendline, wait, be patient and when the time comes it's time to short.
This doesn't work every time, but it can be a clear signal that the direction of any pair may be...
Got into this earlier in the week. Note the large Bullish candle breaking and closing above the significant resistance, and then a smaller Bullish engulfing rejecting the other side of this level as support. Reward, as always, is 2 to 1.
Similar to EURJPY. Currently at a resistance level, so watch for some candlestick patterns to form here. Failing this, we may head up to the higher resistance area, take out the stop orders from trader's holding sell positions and then maybe get some Bearish evidence to get short.
1.Support broken Resistance validated
2.Weekly trend line validated (major validation)
3.Opposing level breached by short sellers (major validation)
4.Profit margin 1:2
Could see price Potentially move down to £59.90*
resistance seen @ £61.80 need to break £61.80 without any major retracements
1.Support broken resistance validated
2.Trendline broken on daily timeframe
3.Opposing level breached by short sellers (109.000-broken)
4.Profit margin 1:7
5.Strong rally up to sell zone
1.Trenline break on daily
2.Weekly timeframe changed sentiment (short) weekly downtrend
3.Break of opposing level on 4hr
4.Profit margin (1:4)
5.If price action shows signs of reversal than we exit trade otherwise we hold until all major support lines/zones are broken
after a dead calm Monday, we're now ready for the intense week ahead. Here's what i'm going to look attentively over the next week, very nice setup on the daily chart. RSI Divergence, with an Engulfing and a psychological number at a previous Structure level. This could be a reversal: bus as you may know from my previous analysis, i usually get my entries...
After hitting a significantly strong resistance it has come down to support level one and broken it. We aim to hit support level two in a couple of days!
Make sure your risk management is in check!
Very good opportunity!
i've decided to use two different charts so that you can understand my process of reasoning. On the left hand side of your screen there's the daily chart on EURJPY and the uptrend is crystal-clear. However, we know that price usually doesn't move straight up or down, instead it creates retracements along the way. So this is obviously a counter trend...
as you can see in this chart price has already broken and closed above the last structure level looking left. What does it tell us? It tells that the trend is confirmed bullish and therefore we're going to look for trading opportunities only in that side.
As always, we don't want to chase price action, instead we wait for it to come in our comfortable...
Gold in a possible downtrend after recent uptrend. Price has rejected the 200sma for the second time in the bearish zone. I expect price to each 1240. We'll then watch how price reacts at this level, could potentially fall to 1220 and lower.
Good morning ladies and gentlemen and whoever doesn't fit into two genders anymore.
Currently USD/CZK is showing potential downtrend. I've identified this by checking the W and D chart.
W chart shows a sideways momentum whereas the D chart shows a distinctive downtrend. I have also seen a double top form which could be beneficial for the analysis.
Fundamentally USD is gaining strength back and it will strengthen due to rate hike expectation.
CAD is more of a bearish mode due to total economic condition and also due to plunging in oil price.
Technically this also gives us a great opportunity to go long. I'm looking into Daily chart with Heikin Ashi candle. The price action is about to reverse from 1.3200...
Aggreko has broken to new lows on a relative basis against the FTSE 100. The shares are under performing the benchmark index and the support services sector over the past 3 months. Further weakness is expected. Sell with a stop above Friday's high.
EURUSD Daily chart showing a potential bullish crab. If price falls below 1.10 I'll be looking for a dip towards the 1.07 with a bounce from the D point.
AB: 0.382 - 0.618
BC: 0.382 - 0.886
Price is trading on strong support on the daily time frame (all though the candle has not closed) and hints at heading lower in the midst of the RBA Interest Rate Decision, announced by the Reserve Bank of Australia which is set to remain unchanged (Bullish). I will potentially be looking at entering soon on the 4-hour chart, although my preferred position would...