Hi Traders, Today is the first day of the month September. August closed higher than July, the trend on the long term is still positive. Since 12 July the SP500 moved between 2193 and 2147 . Slightly higher / more side ways. Despite the trend on the long term is positive I suspect the SP500 is ready for a correction this month. The candles shows some...
If there's more buying and it breaks this resistance (green line), there's a good probability buy till the pivot price area
RESISTANCE LEVELS: 168,25 - 168,75 SUPPORT LEVELS: 160,90 - 161,40 155,75 148,7 - 149,20 EXPLANATION: The Central Bank is trying to keep Rates at record low to stimulate the economy. How hard they will try this will never never work, there is always and end. Also to this! The Trend will change at some point! It seems that this will not take a very long...
Short Opportunity in the USDJPY; Nice Set Up with good Risk on Reward Ratio. Short on: 103,60 Stoploss: 104,05 Profit target 1: 102,25 Profit target 2: 100,90
This indurance ETF has been testing resistance for about a year now and it has broken it last week. Along with that this ETF is now trading at an all time high and I think it could continue to move upwards with the insurance sector looking strong.
The pair appears to be approaching the 61.8% re-tracement level after find support around the 1.27654 level. I will be entering this one on a smaller time frame to try minimize my stop loss and maximized my Risk/Reward
EURGBP facing resistance 0.8560's and as we are in bearish trend, initiating short positions with strict stops Happy Trading !
Some Fibonacci confluence at a strong structure zone and a trend line resistance. Some bearish pin bar candlesticks have formed at this level to go along with MACD bearish divergence Looking for a big correction to the downside
EURAUD seems to have failed to make a new high and now it looks like a reversal back down. Potential for 50% Fib retracement. Lets see and wait for confirmation.
I am selling this stop with a stop above the 1.4800 level Looks to be a wedge peaking out at a resistance zone with some MACD divergence The MACD seems to indicate that there was not as much strength in this recent up swing and perhaps bulls are losing momentum. Could form a double top and perhaps a cup and handle price pattern. If we reverse here this could be...
Hello traders. It looks like we've come to a pretty strong resistance level on the charts (more evident on the weekly chart) Last week closed off with two consecutive bearish rejection pin bar candles, and formed an inside day pattern while doing so. This area shares confluence with previous structure high fibonacci extensions as seeon on chart. Lets see if...
Crude oil for me is likely to move yet closer to $40 per barrel. However, this strong RSI divergence and high level of structure indicates an imminent pullback. Buy now and short later.
The pair has been in a longer term uptrend (better visible on the daily chart). After the strong bullish move recently, the price is now retracing to the previous support levels, ready to continue further up. Stochastic indicator show oversold levels both on the 4H and the 1D chart, which indicate that the sellers are losing steam. The support area offers great...
Before someone thinks why ? how can you be without trading Nifty ? how can you make money n sort of questions, lets see what chart conveys us. We are in strong support zone of Nifty but here we don't have proper risk:reward if we choose to enter long positions. So we wont b entering our trades here instead wait for 8540's zone. Its very small support zone so need...
Weekly: Price is currently in a downtrend. The 20 moving average is currently being used as a dynamic resistance. We will use this towards our trading plan. The end of the week candle closed as a bearish pinbar. The size of that pinbar in relation to the previous bullish candle is not convincing that price is to continue its way down. Daily: Looking at the...
Finding a trend line on a long term chart that price has consistently use for support and resistance is a great way to find other areas of support and resistance. Clone the line and place it on extreme levels on the chart. You will notice how price uses these levels. When you go to a lower time frame, you will notice that you can clone these levels to find...