NZDCAD H4 - Not the cleanest as we have seen a pullback to S/R zone number 2, which is probably below where we would have liked, CAD was on a rampage yesterday, if this H4 trendline support holds and we can engulf the previously close H4 candle we could look for long positions.
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Failed to keep that higher high at "A" platinum heading south to find more value
Staying above 960 would be quite good as we will have just one more higher low on the chart which indicates uptrend.
Failing to hold these levels we are going to find support back to that buy zone at 950- 956 BUT we do have a head and shoulder pattern forming as well that doesnt...
Higher weekly time frame we identify a bullish flag pattern after an impulse from its third touch confirmation. Zooming into the lower time frame we can see a bearish descending channel approaching its third touch confirmation. Further looking into the 4hr we can see a bullish flag pattern within the descending channel so perhaps we need to be ready for a...
After being stopped out at breakeven on my last EURUAD trade I am now looking for a second entry.
The bearish 4hr trendline has been broken and today a higher high was made on the 4hr. I am now looking for a long trade on the next higher low to take advantage of this new trend.
All analysis is marked on the chart and my entry is going to be around 1.57650 if...
Weekly has now formed a bullish engulfing
pattern at 61.8 level as well as bouncing of
the Weekly Support level of 1.31200
and officially closing above the Weekly
Resistance level of 1.32600
I am now expecting an upwards trend continuation
to the Monthly Resistance level of 1.36500
Swing traders that use the daily and 4 Hour time frames
Here we see two options;
1) a Long opportunity using the Ascending Triangle Pattern.
Here we will wait for an upward break back into the support line.
We then anticipate a rally up towards .72800 and prepare our entry and exit strategy.
2) a Short opportunity using the Double Top strategy.
Price retests resistance line twice but is rejected back to...
Got into this earlier in the week. Note the large Bullish candle breaking and closing above the significant resistance, and then a smaller Bullish engulfing rejecting the other side of this level as support. Reward, as always, is 2 to 1.