Look at this really interesting chart of Soybeans. I entered long Corn almost a week ago and I was waiting for a good signal on soybeans. The price reached the rejection line of the descending channel. Volumes dropped on the last down move, and the 14 periods RSI shows a strong divergence. I believe a break back above 900 dollars would be a strong bullish signal.
The descending channel from 5th August acts as a pivot point for trend reversal as suggested by the numerous times price was tested and changed direction. Therefore, I predict that price will fall since it has touched the trend line of the channel. This resistance level is further implied by the fact that 1.31481 is the 0.236 Fibonacci retracement level, so price...
The first thing I learnt in trading is buy the low of a bull channel and sell the highs of a bear channel. The risk reward is fantastic. Nice little doji candles forming on the 4 hr. Stop just above11627. Would like to see an entry pattern on smaller time frames before I commit to trade. Either H&S, double or triple top,
Update: Stopped out Profit = - $600. Balance= 30,000-600 = 29,400. ================================================================== Trade 2: Pending Short XAUUSD @ 1180.00 S.L @ 1186.00 T1 1171.00 T2 1163.00 For 30,000 Capital, and 2% risk per trade=$600, Position size = 1 lot ( 0.5+0.5) ==================================================================...
Cable moves clearly in a downtrend channel. At current levels a short position offers fair risk to reward ratio
Looks bullish here as it is touching the top trendline of the downward sloping channel that's been in place since 9/14'......it is at this big resistance lvl. of the upper trendline of the downward channel and could b/o thru this week w/ tgt.#1=216 & then tgt.#2=220. Had a pre b/o day today w/ larger positive volume than yesterday......as always watch volume for...
GBPUSD 1h \ 4h TF - descending channel
This move can go either way Long or short. I've managed to draw out a wedge which will determine where the next move could be. If the candles are continuing to be bearish for the time being and managing to break through this wedge, it may be worth shorting up to the demand zone (TP). Otherwise if the candle tests the wedge and manages to bounce off it, a short...
I already entered a short position at 0.968. I think a downward trend will continue after a short pullback period in wich we are now. The trade is fundamental based on the Policy of Reserve Bank of Australia. It cuts the cash rate by 25 bp to 2.25% to a historic low. They argue that it will boost the economy and will provide support and growth. Well we will see ...
With a clear downtrend on the monthly Timeframe. Here we have a basic and clear descending channel on the 1h TF, I shall be a waiting a pullback to the last daily support. And with good clear indication I may take a short position, with the first target being 0.71751.
2013-03-07 there is a price gap up shown on the daily chart. That's the target. If price has high downwards momentum when it reaches the gap, it might go right through it. Watch price and that level.
Short. The neckline is broken. The larger timeframe — the daily candlesticks shows downtrend. Striggling mid-cap tech stocks (and this is barely mid-cap) are not where you want to be at this time in the market.
ANF has been experiencing a significant downward trend since early September. Each time price has hit the top of the downward channel, price has dropped, continuing the downward trend. Price tends to continue in a trend / channel. Pros: 1. Price is in a daily bollinger band squeeze 2. OBV continues on a downward slope (often an indication of the direction of the...
It's a technical short of GBPUSD. We are still in a bearish trend. Fundamentals are great: British economy expanded 3 percent year-on-year in Q3, inflation rate increased slightly to 1.3 percent and unemployment steady at 6%. We will see how it works.
Short term upside with some suport and w/Ukraine vote coming up?
Kiwi is also in a down trend. I am not that comfortable with the divergence drawn on the RSI, but the trend seems to be pretty strong. A break on the upside of this little range could get the price back to the channel's main line, while a break bellow would signal another drop for the NZD. So still short on medium term here, also...
What a nice bullish setup. A Hammer was drawn at the intersection of the big down trend and the smaller up trend lines. This gives a better probability for the Euro to start a rally, targeting, 138.00 or even higher for 138.50. A break below the demand area would signal a fall back towards 136.50/136.00.