I am still not 100% sure if this pair has shown signs of a fake breakout, we will need to monitor the price on Monday and wait and see whether or not price wants to continue ot respect the ascending trend line or trade outside it again. Definitely one to keep on your watchlist, lots of potential for an upside move here.
COT Data - 72% Short
We won't be trading today but this is a potential setup you could take. We may have witnessed a fake breakout of the ascending channel on the 4HR time frame. It is possible that the price could now decline aggresively.
After making a nice trend higher on the daily chart, price has stalled into a sideways box pattern.
After trying to make a breakout higher that ended in a fakeout, price is very much stuck at the moment.
The best play looks to be to watch this pair until price makes a clear break out of this congestion and shows some clearer price action.
Price attempted a breakout higher in this pair last week that turned into a fakeout with a daily bearish 2 bar reversal.
Price was looking to breakout higher and through what has been a tight ranging period.
Now price has moved back lower into the range, more sideways price action could play out.
In the short-term the intraday price flip level we discussed last...
Good Morning all. I hope this message finds you well.
Yesterday i got faked out by this pair, nothing major.
Today I placed a buy position as price is greatly oversold. Lets see how this one plays out - looking to hold this trade if the momentum is strong.
Advice for today:
Trading without a stop-loss is financial suicide. Always protect your capital no matter how...
Looking at a potential short trade on NZDUSD, if you love trendlines you will like this chart! We have a medium term upwards channel. The thicker trendline above is a longer term trendline and it looks like there could be a fakeout on this one. Finally we have a shorter term upwards trendline in which price has broken out of and now I am waiting for a pullback...
As you can see, BTC has gained a lot of selling pressure over the last few days. Perhaps due to bigger participants taking profits after we hit the psychological number of 9,000.
The ADX shows buyers are starting to gain dominance, indicated by the red line crossing the green line. And volatility is starting to pick up.
Furthermore, i have taken a previous move...
Forming symmetrical triangle below monthly resistance, had multiple fake outs to the upside with large rejection, hinting there is possible going to be a break to the downside possible to 0.71200 as our first target and eventually lower to 0.70600.
Very bullish on UJ for next week. Looking for dollar to take control which will help. I have annotated my levels which I will be looking for buys. Purely looking for fake outs to the downside. Buy zones are ares, not exact price points.
Last post: June 3rd. See chart .
Review: Price was approaching the resistance level.
Update: Since the last post, price broke above the resistance level but has failed to stay there and has now fallen back below that level. The breakout was a fake breakout.
Conclusion: We need price to break the resistance level again and stay above it before looking for...
This stock is featuring for the first time on our TradingView blogs.
Current setup: Price has just broken out of consolidation which lasted for several months.
Conclusion: We need to see price remain above the consolidation zone to make sure this is not a fake breakout. We will wait for the next breakout before looking for a trading opportunity.
COPPER HG HG1
Like last week, just more confusing
Gann fan forming maybe?
Price might Fakeout and bounce again.
#Patience and wait for a sign.
If I had to bet now I would say Long but - again - let's wait for a clearer view.