Now's looking like a good time to short the GBP/NZD pair as RSI (14) is indicating an overbought signal which confirms a pullback is bound to happen. Price should drop back to previous structure or even the tested trendline so we'll keep an eye out on these zones.
Trade Details :
SL : 1.9755
TP 1 : 1.9600
TP 2 : 1.9440
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The asset is still in an up-trend, however, opportunity exists for a pullback short.
It is currently in that phase of bulling back. Yes I said bulling back.
Since finding support around 1.2690 the Pound has managed to retrace ~350 pips and is now sitting right below the 1.300 handle, which was formerly support now turned resistance. Depending on today's close, we might be entering into a range as the Dollar continues to give ground against the other majors. For now, I'll be watching and waiting for a signal from my...
Looking to sell this pair as it comes up towards 2100. If it comes up way too aggressive, the sells would be off. If not, would be expecting to take the sell there to at least the recent low.
W1 - Potential second false break with bearish divergence.
D1 - Price is currently near the middle of the range.
H4 - We may now look for pullbacks and sells.
We can look for short opportunity if the price retest the FIBO 0.618 level near 123 pattern KEY level, just WAITING 4 CONFIRMATION - Pullbacksell!
Good Luck!!!!
Shorting the recent bullish move move in the established downtrend of CHFJPY.
Low volume on bullish move = weak momentum
RSI needs to cross through the middle line
ABC corrective pattern needs to complete around 109.50
Entry at 109.5
Stop at 110.5
Profit at 105
Market totally Exhausted. big chance of a pullback here.
I closed my long today, i been longing ETH for the last 3 months during the 2017 reversal.
i think we will see our first major pullback here to allow some fresh money & take out some fomo longs.
Open - 2430
target one - 2050
target two - 1850
Stop - 2700
As always with all altcoin trading we...
Bearish pennant formed indicating a continuation of the downtrend. This market is coming up to an area of resistance which should trigger some movement to the downside and make a new low. NFP later this week so hopefully out before that.
Looking for a simple trend continuation trade here on gold as the market consolidates in it's latest pullback. The "Initial Killzone" that i drew out is a combination of the two bigger killzones that I've identified combined with levels of Fibonacci ratio confluence.
If you were to zoom out to the daily chart you'll also notice a previous level of structure...
After an impulsive move down to break a 6 month support, the Canadian dollar has found some support and spent the last 5 days in retracement. As price approaches the 38.2 Fibonacci retracement level of the current downtrend, we see that same level shows to also be previous key support and resistance. Watching the .75 key level for reversal and downtrend continuation.
The Price is still holding the same structure and the Engulfing candle telling me that A bearish Pullback may take place
If the price reached 77.290 I will activate the trade, because I want the price to sink under the RSI 50% to make me more confident about this position :)
