This descending trendline is problematic. If you bought lower, it may be time to take profits. If you don't have a position, I'd consider shorting the stock and see if you can ride it down to $212 or so.
38% Retracement at our respected descending trendline for a short continuation
With USOIL showing big signs of a Seller Market Technical wise, Oil is a major part of Canada's Economy. I want to see price break its recent support and begin looking for an entry after breaking below the Major Swap Level.
Price Action (Technical Analysis): Given that price is moving off our respected Monthly Descending Trend Line, price action is moving in a parallel channel what seems to be towards our Weekly Mid-Range Zone where price action can experience a high level of horizontal sensitivity after price breaks-out from an accumulation. If price breakouts to the upside then our...
GBP/NZD has reached daily resistance zone (green) and this is in line with the descending trendline from weekly resistance (purple). Also the rising wedge also indicates selling pressure.
gbpcad has rejected major weekly zone (purple) and descending trendline was broken meaning that price went above and beyond in moving up
On the chf/eur daily, I see a LOT of bearish movement due to rising wedge occurring at resistance zone, strong resistance zone, descending trendline and broken ascending trendline and a triple top. These are indications that market will drop lower but major news is coming out in couple days so I will look thoroughly at this chart for when that occurs.
Starting off with technicals today, this article will aid the previous gold article posted. After a rally of higher highs and higher lows, we then saw a drive to the 95.75 price region creating a new lower low, with an anticipated lower high possibly forming today depending on the candle closure. With that being said, I have entered short term positions on USD...
Looking at EU in more detail: Weekly: a downtrend is still evident, as the weekly descending trendline (pink) has not been broken by this pair. Additionally, a bigger descending trend indicated by the monthly trendline (black) still stands. Thus, it is safer to look for possible short entries on this pair. Dropping down to the daily time frame , the, the...
It has been a quiet week so far and I am not seeing any great opportunities in the market this week, except this one. This GBPCHF with a possible inverse Head and Shoulders. Price broke the descending trend line, indicating a possible trend change and now it looks like we also have that inverse Head and Shoulders. On the Daily chart, it just completed a bullish...
I had plotted the descending diagonal support and resistance for NEO at 1 week at the current downtrend and found a possible upcoming breakout of this downtrend at 0.0022 where the price would hit around 0.0022 and the support before bouncing back and breaking out of the descending diagonal resistance and have a uptrend. Do you think that would happen? If not,what...
Market did break really important descending trend line. In this projection, the best way to look for buys, would be market going to the 111's demand zone. After bouncing from that level, we are looking for market going upside to this red zone, that I have marked on the chart which is something about 114 price level.
On the chart we can see descending trendline and strong 0,618 fibo retracement level. In this projection, we have to wait, till the market gonna reach this yellow circle, and look for short positions.
Reaching a significant area of trendline resistance, price could now be in for a potential reversal..
Price stuck in a range between weekly resistance 1.25000 & daily support 1.24100. Price failing to break above resistance, price now could be done with its manipulation after making its 3rd touch to its 4 hour descending trendline ready to head down now & create a potentially new lower low. Will be keeping a close eye on this pair for a reversal candle back to the...
3rd touch to the descending daily trendline, now the counter trendline is broken price is headed down to daily support
Price making another touch to its descending trendline, now stuck in a tight range within daily resistance & support. Watching now for a continuation to its downtrend for a new low