GBPUSD Testing the 0.5 fib overbought on the RSI which it has been respecting at 70.0, Recent dollar weakness now gaining back strength so i think we will see a continuation of its downward trend. Entry 1.251 SL 1.2554 TP 1.243
BRSN:LSE appears to be funneling down to a decision point soon. My preference is that the move down will continue to the 800 level before a bounce. the RSI in the weekly chart shows the potential for forming a double bottom which should move momentum back to the upside but this has not finished forming at present.
Tesco (TSCO:LSE) looks to be approaching a confluence point around the start of February. RSI has been finding support around the 40 level or just below indicating that if price can manage a gentle glide towards this point there could be a move up off the confluence in Feb.
EZJ has been trapped in a symmetrical triangle for a few months the boundaries have held well. RSI is showing support in the 45 area indicating decent support for the bull side. Looks ready to break to the upside in the next week or so.
Monitoring the EURGBP pair we have identified an RSI divergence on the Hourly chart.
We anticipate to see a retest of the 0.84260's level after the false break out (see market conditions) followed by a break-out of the rising wedge formation with even bigger profits.
Profits and stop losses are set according to previous structure supports with the latter being...
While monitoring the GBPCHF pair we have noticed a clear RSI divergence.
We will be looking at smaller timescales for additional confirmation of the move prior to placing any orders. Supports/resistances from previous structure are located at 1.25000 and 1.21500 levels
All feedback and comments are highly appreciated.
Price is touching both EMA's you can wait for a pullback for an entry at 0.889 level. stochastic and RSI is showing bullish momentum.. Adjust TP and SL to your own RR (Risk/Reward) in the past price has shown bullishness on the 6th where the red X is.
Firstly some fundamentals. Basic materials have dropped 4.4% in the last month and 5.7% in the last week. In this sector mining has seen a 7.83% drop in the last week and 12.49% in the last month (source finviz and stockcharts.com). This specific stock has performed worse with a weekly drop of 8.23% and 14.02% monthly. This gives an overall picture of weakness at...
Nice counter trend trading opportunity here. Why?
1. We have fibonacci confluence from a previous high @ 618
2. RSI is overbought
3. ABCD completes close by
4. We are at a strong trend line support
5. We also have a diagonal trend line resistance (not currently drawn on) which would support the shorting bias.
Depending on your strategy you might require some...
FX:GBPCAD is touching the 50 EMA with a slight green doji appearing showing the end of the minimal downtrend. The stoch is showing oversold and will touch the highs of the 1.74 level again that it was struggling to touch before.