Possible big gain long idea
Thoughts and opinions appreciated
* Currently in a strong uptrend
* Price bounced off 78.6% Fib level (1.3746)
If price breaks 1.3746 I think there is a possibility of a move up to the next strong resistance of 1.43806
FX:GBPUSD
Still learning so please let me know your thoughts....
As you can see the price has tried to break the 78.6% Fib level for the last 7 days.
If we see a solid break of 1.37461 then the price could push along the lower trend channel or even break into the upper channel.
FX:GBPUSD
Still Learning - Use or ignore this information as you see fit.
EUR/USD - BUY
***Continuation of previous idea***
1). Price bounced off strong support of around 1.20458
2). Price broken 78.6% Fib line
3). Continuing uptrend towards next strong resistance of 1.25548
SL - 1.20344
TP - 25548
****Reminder that I am still learning so any constructive...
Reminder - Still Learning - Use or ignore this information as you see fit.
NZD/USD - BUY
1). Price hovered around the 78.6% Fib line for 10 candles.
2). Bounced off that Fib line and is continuing uptrend.
3). Next strong resistance is 0.74297
SL - 0.70906
TP - 0.74100
UPDATE OF PREVIOUS IDEA (2/11/20)
*Price following trend line as previous idea.
*Possible bounce off of the 78.60% Fib line
*Expect price to continue to rise to strong resistance of 1.42806
Still learning, advice and constructive criticism welcome
****UPDATE ON PREVIOUS IDEA*****
Reminder - Still Learning - Use or ignore this information as you see fit.
Continuing to rise - HOLD
* Price did drop below the trend line previously drawn.
* Trend channel moved slightly to fit the breakout.
* Appears to be false break out, price bounced off new trend line.
* Next major resistance marked by yellow line....
My first chart analysis playing with trend lines so forgive the messiness but my current prediction for XAUUSD to kiss 1960 tomorrow?
Please leave your opinions and why, I’d love for some feedback and discussion on golds direction
Still learning but looking to buy if the price bounces off the trend line and 61% fib level.
Constructive criticism and opinions and suggestions welcome!
Thanks
I am brand new to technical analysis this is my 2nd ever chart 😅 Grateful for any assistance in getting to grips with the tools and functionality of this site as it seems to have ALOT to offer 👍🏻
Again, very new to all this and still very new to making my own analysis’ - just looking for honest constructive feedback.
Possible long set up on the EURNZD on the daily chart.
Couple of rejections at resistant. Will look for further confirmation on the support before I look to place a trade on this.
Risk/reward is sitting at 3
Let me know what you guys think 👍
looking for GBP/USD to break support, show a confirmation of resistance.
THEN short the market.
Exit at bottom of down trend approaching next support level.
Markets are volatile and with the yield curve inversion, uncertainty is heightened in the short-term we can see a lot of down and up swings making it a great opportunity to trade short-term on indices.
I chose CAC as it is less volatile compared to FTSE 100.
This is my first post.. lets see how it goes!
Looking at the EUR/USD we can see that the price is back to a previous level of support.
This implies a surge in price is soon.
Or a fall as a historic level of support suggests.
My prediction that the price will rise back to the previous known resistance level as shown.
But there is the chance that the price falls back down to a previous support level.
Any...
We now stopped in the shorter-term channel at the bottom and we have two options. I am in favour of more downtrend.
That is why I setup a second entry as sell stop.
I also have a great position from the top of the channel in a short position. I can collect my profits if the trend reverses and price bounces.
I had a nice opportunity to enter at the reentry into this big bullish channel and currently I am running nice profit.
There are two resistances ahead and some more if we go all the way to the red channel, red upper line is visible in this graph.
I will edit my TPs accordingly to price action.
