this is why u will never get same position-answer from pro or amateur traders... somebody see this as assending channel somebody see this as break of minor patter-assending channel(revers pattern) whitin major pattern and ressistance(channel with little desending) so here u have nice buy option and nice sell option.... point of this is to never listen to other...
for trend trades i see this as end of end trend and up trend forming... wait for 50 ema or trend line to be confirmed then go long
As we can se the price is testing resistance in 1,54 area. We have strong confluence up there whitch is 2 times testing resistance and 2 times support, there is also trending line which was respected since September 2017, we had a break in May now price i retesting this line, There is also 0,382 fibonaci retracement. I decide to go in that trade now. Risk/Reward...
I will look to add to short positions if rejected where the arrow shows, downtrend backs the idea. I will update with some likes!
1H time frame shows a double bottom structure, currently in an uptrend back up to the neckline. Looking for a break or a bounce at the resistance level in order to enter a trade. One to watch over the next few hours to see if we get closer to the resistance level.
She is in the sell zone currently. Pattern type==double top Sell @ market 1.4620 TP @ 1.4400 SL @ 14820
THERE IS OPPORTONITTY FOR OPENING SMALL LONG TRADE AFTER BREAKING TREND LINE
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Got a little trade setup here. low risk high reward about 1:5 risk/reward Any criticism is appreciated any tips or questions im open to.
This is simply my diary of opinions on upcoming trades. Take only as Analyzation
This is something that I just spotted that merits a bit of attention today. The CAD has of course been weak given the recent rate cut by the Bank of Canada on top of the fall in oil prices. Meanwhile the euro is holding well with renewed capital inflows into Eurozone equities markets plus the Greek vote that just went through. Technicals don't necessarily point to...
The EURCAD cross is clearly bearish below 1.375, and renewed selling pressure would suggest a fall back to the 1.337 support. The daily RSI is also below a key resistance level. The current levels are attractive for short strategies with stops above 1.375 and a take profit at 1.339.
Since 3/19 the Euro has been selling against the CAD in spite of lower oil prices. More Euro buying led to a period of consolidation from 9/4 to where price is now. While price made a new low on 11/24 price now is higher. The 1.4450 level has served as support and resistance on 7/4, 7/23, 10/16, and again today. While price has rallied recently the broader...