Well, we said many times over, don't buy the highs.
And it couldn't be more apparent now. That's because high prices are not for buying (if you are a good trader).
Think about it. Do you like expensive things? Would you rather pay less?
Well you can. You just need to be patient and know a little thing or two about natural market movement over time.
Watch for more.
On the EUR.GBP 1hr chart we have a potential short opportunity at the D leg completion of bearish Cypher setup.
The price reversal zone on this pair is between .8519 & .8577
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Cypher setup placed at the .382% and .618% retracement...
TECHNICAL ANALYSIS:
-For a long year, the market followed a clear side trend , bouncing between two really strong levels, a Resistance zone at about 0.74000 and a Support zone at about 0.68310, breaking it during a Downtrend in June 2018.
-The price then started following a new side channel, using the support zone as the new Resistance zone until the beginning of...
TECHNICAL ANALYSIS:
-Since the end of November, the price was clearly following an Uptrend, strong Volatility and Volumes pushed it up until it reached a resistance zone at 1.21685.
-The market then started creating a DESCENDING TRIANGLE, bouncing twice on the support zone, base of the triangle, until the price was Oversold and it opened the day later with a...
CADCHF H4 - Bit of a S/R range here on CC, looks like we are already pulling upside, but mentioned it would be nice to trade a double bottom here if we pull down to 0.69100 support region.
To recap the movement for EURNZD last week, the pair traded lowerafter a bearish pinbar on the weekly chart from the previous week as the EUR remains pretty much weaker, after the Fed raised rates and economic figures from Europe came in mixed.
Monday and Tuesday saw the EUR/NZD trade lower, after which traded pretty much sideways as commodity currencies took a...
