Hi Guys,
Another pennant formation showing on the USDCAD, long term price shows a downtrend (4H TF) and price is trading in a channel. If you don't know what is a pennant pattern, please check it out on the web. Lets see if the next FED meeting will push this pair higher and break out.
A good idea will be to buy at the break out +20 pips entry. This will show...
I'm looking for price to pull back into the first test of a Drop-Base-Rally on the 60 min. Price is also forming a Pennant pattern. Price has been pretty bullish the last two weeks. I'm looking to get long around 1.1095, stop at 1.1065, and I'm looking to take profits around 1.1315. Good luck trading out there.
Gold is still very bullish. With a broken pennant formation in the upside direction, I expect the pair to reach approximately 1253.98 from this point on. But I want to also state that gold might drop a little to retest the trendline before moving higer.
The break of bullish pennant brings gold on the higher price level and creates new potential strong resistance. The price will likely retrace on 1.618 of XA as it forms crab harmonic pattern. The target of harmonic pattern conjuncts with pennant target, and finally will complete rising wedge pattern. The current state is on excessive phase, the price was going up...
On FX:EURUSD , the market not trending on hourly chart. The price formed triangle (it can be pennant in the 4H bars), it means not bears nor bulls are in control the price. It is consolidated and we have to wait the perfect moment to see who gets the control and trade on their side. In this point, wait for the breakout confirmation and then...
A clear pennant formation is formed on the 1hr chart of gold. We can expect the pair to go lower to around 1190.00 before making its next if it goes down as expected. Keep an eye out for this and trade carefully.
as we could see the price is going in a direction of forming a pennant pattern we could go long when the price hit 1.39085 so we could make sure is not turning down
Market has just double bottomed, accompanied with bullish divergence on the RSI, all signs pointing that there might be a further leg to the upside. Targets go at previous highs, stops go below the X leg of the cypher, giving us a favourable RvR.
I sold GBPNZD at ~2.2458 in the supply level and my sell trade is still in running.
The Price Action shows a Pennant Pattern. It is a Continuation Pattern for the bearish trend.
I still keep my sell trade. But of course more time the price spends inside the price range, higher becomes the risk to see a reversal behavior.
What do you expect for this...
I want to start things off by saying I don't expect to see much action at all in the markets today ahead of this afternoons FOMC statement. However, I did want to follow up on the USDCAD idea that I shared with you yesterday.
After creating a NSL we are now retracing back into previous structure. I often explain to the traders I work with that I'm not a...
Usally not at all a pair im looking at but i just random clicked on it and we are currently approaching a good oppurtunity so whatever.
this spike we saw last week was the biggest spike since 2012. those kind of spikes often happen in lowpriced lowtraded stocks. they spike up multiple 100% for 1 day or 2 and then fall down to where they came from.
if you look at...
expect a momentum move to the upside soon if we can take out the highs of the last hour.
conservative stops below the pennant, aggressiv stops below the lows we make from now on till the break of the highs.
