On the daily chart, ADA is finally out of its Ichimoku Cloud equilibrium zone and back in the bullish zone. I would've preferred if it broke out sooner and with a Conversion Line cross over the Base Line above the cloud or at least within the cloud for a medium bullish signal. ADA is a also back above its last yearly high which is now a major support level....
Price is bouncing through a bullish channel and is reaching near 50% Fibonacci level which corresponds to the resistance at 138.00
We are waiting for the 9, 21 EMA for a second confirmation near the resistance before we take the trade.
TP1 -> 136.750
TP2 -> 135.400
* First post !
Let's see how will play out.
Hi, looking long term at GBPPLN, I'm seeing correlation with GBP-USD when it comes to shorting both of the pairs. As you can see, external FIB levels are working perfectly on W1, so there is no doubt about 161.8 and 61.8 together, how it should work.
USDCHF is looking great for a sell. We have broken out of the ascednding channel after rejecting a key resistance level. We have now retraced right into the golden fibonnaci pocket. Once we break the corrective pattern i will be looking to go short!
- Pennant chart pattern formed indicating a bullish continuation of trend.
- Wait for confirmation candle
- On the W1 timeframe price is respecting the 61.8% level
- H1 timeframe is showing an uptrend and price retraced within the pennant.
- We are looking for price to break outside of the pennant and retest it before entering the trade
Potential continuation of a long order.
Wait for confirmation candle.
Price has been in a consolidation state holding between support and resistance level.
Bullish candle around resistance level, wait for price to test and retest the resistance level before entering the trade.