Prices are currently in a triangle consolidation. Prices broke out of an immediate descending trendline and was rejected by an immediate resistance zone. We will be waiting for bullish momentum on our minor break out zone before looking for a move upside.
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LIT/USDT Breaking from Descending Resistance Line.
TA Explained RVNUSDT did a full pullback to the fib 0.728 level as can be seen in the below snapshot: After breaking the descending trenline, a bullflag is being formed, about to break out. However one more dip could be expected as well, which would give the second entry for this setup. Trade setup Best entries: 0.14991 -0.16440 TP1: 0.19931 TP2:...
TA Explained ALPHA made a big impulsive move after which it retraced, found support but eventually dropped below it to find support lower. The decending trendline is broken and a higher high is created. Next up a higher low. After which it can continue upwards. Trade setup Best entries: 1.43653 - 1.66489 TP1: 2.17054 TP2: 2.79580 TP3: 3.45912 SL: 1.16355 RR:...
in this time frame we have a great ascending channel as you see in the chart, and key levels of support and resistance .for now price follows the bearish trend line and one unsuccessful break out and a triangle pattern as well. if the price could break out successfully and stabilize above the resistance we can see bullish movement to the top of channel 48 or...
EUR/GBP is currently following a descending trendline and it's approaching a Resistance Zone at 0.8940-0.8955, leaving us with two possible scenarios: Long: -RSI is close to oversold levels, indicating a possible reversal; -If we get a good rejection candle at the Resistance Zone, price might reverse and head to the upside, at a first instance until it touches...
EURCAD after hitting the dynamic descending trendline look for a retracement move. The price hit the daily resistance at 1.55450 and couldn't break above. After an impulse, we expect a retracement and if the market will break below the 1.55 level we can set a nice short order. --–– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red...
Price broke the descending trendline, bounced from daily support of 1.30437, broke daily resistance at 1.31520 and is going back to retest it, forming a nice head and shoulders patterns. My eyes are on 1.33154 weekly support to be tapped. #tradesafe #managerisk #theforexdaddy
OMGBTC is trying to break a daily resistance after a huge imoulse. The price bounce on 0.786 Fibonacci Level and it's inside a descending channel. IF the price will break a daily resistance According to Plancton's strategy, we can set a nice order ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly...
GBPUSD - Short Position, R:R 1:5. I am taking a short trade on GBPUSD after price has shown rejection on lower timeframes (15M & 1H) and is respecting the descending trend line. My target is the next key level at 1.21700 which gives me a great R:R of 1:5. When applying the Fibonacci Retracement tool, price is also showing rejection at the 61.8% level which gives...
Will we see a break of this descending trendline going into next week or will the bears take control
see the chart for the detailed bias for me to go long
Cryptocurrency market is breaking out from descendeing trendlines (check my previous posts regarding).. global uncertainty around coronavirus might enhance further positivity. Triangle breakout in XRPUSD (yesterday close on daily timeframe) provides signal for joining bulls with quite wide stop around 0.215 and 0.365 t/p level.. (R:R=3.3) If entering the market...
What's the situation on the crypto market? Well..not so long ago, we could see some big moves out from the descending trend lines in such crpytos as ETC, BCH, DASH , BSV..even BTC..which is somehow dictates the direction to the cryptocurrency market (check one of my previous posts of BTC, BCH or ETC). In one word - the market is bullish. Techincally speaking at...