FNGU on the 4H chart is in a trend down within a parallel channel. The previous trend down
from the top of the channel to the bottom was 29% while the counter counter-trend up from
the bottom of channel to the top was 18% over 7 days. Presenly the trend down from the
upper channel is confirmed by the two RS lines near to the 50 level and the Awesome...
This is one of my invented 15 minutes scalping method whenever I find the "Ascending Channel"
As you can see in the chart the point where price touches the resistance level of the channel (red arrow) is where to place a short or sell. While the point support level (green arrow) is the buy or long zone.
This point are not just picked randomly, they are selected...
This amazing share here gave a good consolidation breakout | | A triple layer parallel channel is broken for above
Pattern is good and a potential trade can be activated from here now will see what happens :)
Risk management is must :)
Palladium is in a very strong up trend. I think it will have yet enough momentum to get to another parallel line. As if it was about to score yet another level in the strength of the trend. So I went long at 1134.868; TP: 1158.500; SL: 1111.237.
FX:USDJPY
After the initial rejection from the potential double bottom neckline the rate has fallen down to test the support at 112.20 again, therefore, invalidating my bullish bias.
I am now looking at this as a descending triangle or a box-range set-up and I am looking for a break below the support to enter new short positions.
Remember it can still turn...
FX:GBPUSD
The rate is still trading along the lower parallels of the former broken falling channel. It has just bounced lower from the previous support/now resistance at 1.2300 and is now sitting at the 61.8% breakout target from the large broken rising wedge formation.
The immediate attention should be turned lower to the support area (1.2090-1.2150) and at...
Everyone is wondering: "How long is this trend going to last?" Well, I have a rule: "Keep beating the line that works until... it beats you". So I still have a bullish bias about this market looking to enter again as price comes closer to the bull trend line. USDJPY has been one of the strongest markets since the end of October and it is so at the moment (in terms...
AUDNZD's down trend may have have run its course. We can see that price is at the upper border of the former downsloping channel, trading around the 1.11 handle and approaching the 61.8% retracement of the entire Oct-Nov rally. And it is doing it in a very good style: lower highs and lower lows, conforming to the steep bear trendline - so chances are it is on its...
