Similar to my previous analysis on EURUSD which has nearly reached its profit target, this analysis too is based on multiple time frames. On the weekly chart there is a rejection off a strong yearly price area, and on the daily a hammer candle seems to be forming. On the 4 hour time frame there is a clear H&S pattern. The reason why the potential profit is very...
The bearish engulfer never managed to gain its full momentum. Stops were moved to BE, which we hit earlier today... the lower time frames are showing a very clear flag. I am not looking to trade this for 2 reasons... the first of which is: We have lower volumes through the correction of the flag itself, however the hammer down candle right in the middle shows...
Possible short term trade on the CHFJPY
Japanese Index has started to fall so some currencies are gaining in strength against the Yen
Any questions are welcomed and will be answered
Lets see how it plays out
If you're anything like me, as a trader you likely have a traded instrument that is kind of favourite. For me it is the FOREXCOM:UKXGBP mainly on account of the fact that I cut my trading teeth on this index. So if indices are a part of your portfolio, this could be a profitable opportunity.
This index (like many others and the Equities they derive their value...
DASH/BITCOIN is in a range bound and the resumption of uptrend is expected.
The price is below the 21-Day WEMA which acts as a dynamic resistance.
The RSI is at 47.
The price is in a range bound, but we forecast the uptrend would resume.
There is a possibility of temporary retracement to suggested support zone...
SSl recently has been recovering from a market correction. However, even tho the coppock curve and the ADX are saying this could be a buy, I see a hammer candlestick forming. This shows that the prior trend could be changing. So, I put a short position below the 50 MA. Also, volume seems to be decreasing.
I'm looking at a Bearish Cypher Pattern on FOREXCOM:AUDCAD , which after weeks of watching and waiting has just completed today on the Daily Charts. This is a short term play so we can anticipate a week or more to targets if the pattern plays out as anticipated.
Having been in consolidation since September, price action broke to the downside support of the...