Looking for a rejection of the support level along with a retest of this level. After this, we will look to go long to the previous resistance level. Look to the 4H and 1H for entry (retest). If there is a breakout below the support level, the trade will become invalid. Hope this helps!
ETHUSD has displayed some signs of weakness today after a very bullish week.
A 1h trend line has been broken and now price is exposed to the downside. When we look at the daily chart there's an obvious level of resistance capping ETHUSD from rising any more. A nice bearish daily close could set us up with a profitable downside move.
This is a short term trade...
If you look at the XRP chart, you'll see we have potential for some downside over the coming week. After attempting to surge earlier today, XRP slowed down & fell back into the boundaries of a triangle pattern. We're also beneath a resistance level and a strong weekly supply zone.
Will we see XRP value dry out in the short term? There's possibility for a short...
Similar to our Euro versus Japanese Yen trade we are looking to get short US dollar against Swiss Franc on expectation of a risk off tone into next week from a combination of price action on equity indexes as well as what we have highlighted here on our trading view chart work. A combination of price action and trendlines is coming together to...
Nice short setup on Euro versus Japanese Yen on our trading view chart with the pair running up to resistance levels around 123 and at the same time trading volumes are heading south just as the overall market goes risk off again. Using this as the perfect opportunity to position for more risk off headlines from China trade talks after the...
CADJPY had recently broken out of a descending channel and is currently re-testing this as well as the resistance level 80.67.
Last week we closed with strong bearish momentum which I feel will carry on to reach our target at 78.45.
I will be waiting for a daily close below 80.67 before entering short.
All tips/comments welcome, I will update this as the trade plays out.
On back of Aussie central bank again we have another interesting opportunity- this time in British Pound versus Aussie dollar with the pair forming a double bottom. The pair has fallen to current support levels as per our trading view chart and is allowing for a good risk to reward setup should the pair bounce and remain in the current trend...
- Price has broke through and retested the resistance level
- Possible continuation trend
- Long wick formed on the last 5 min candle. Price may retest this zone again.
- Doji formed at resistance level
- Price may enter a state of consolidation or continue on an uptrend
5MIN & hour timeframe show contradicting signs.
Price seems to be forming a double top at support zone
Possible continuation of the short trend.
In a state of consolidation right now.
Wait for confirmation candle...
Price may test this area before breaking through as it seems on the lesser timeframes.