The price tried to break through the strong resistance level of 106.11 and hit the resistance zone in the same position. However, immediately after a small false breakout, it touched the resistance line of the ascending channel.
This channel has existed since December 2020. After touching the resistance zone, the price reversed in the fall. Now we see that the...
We were In last week's trade looking for price to finally breakout higher in this market.
Whilst price did make the breakout through the resistance level , there was not the explosion that some may have expected.
After the breakout price made a quick rotation back lower where the breakout resistance held as a new support level .(see the 1 hour chart)
Still in a downtrend with several rejections of trendline, creating new lower highs, failing to make higher highs.
Perfect wick rejection of the 0.618, which lines up nicely with the 50MA, descending trendline and the resistance area.
Looking to add to my short if this wedge breaks which I can see happening in the next 24 hours. if we break up, which I doubt as it’s been tested many many times and failed, I will look at closing the rest of my position and going long but as I said I doubt this resistance is gonna break. Short from $10,400
Nice simple resistance short trade set up on NZDUSD. This zone has shown previous 4hr rejections to be fruitful trades so I am awaiting another 4hr candle closure as a bearish rejection before shorting.
Targeting previous 4hr support levels at 0.66000
This resistance zone has held for quite a while, infact, the first analysis I EVER PUBLISHED featured this pair, with this same setup.
If a true breakout occurs (price passes the previous high, the the ridiculous candle, the candle peak at 1.6200) then I'll revert the resistance to a support level for price to bounce off.
Should it hit 1.6200 and reverse, the...
Plotted a few 4Hr & a few 1d support & resistance lines, price confidently bounces between these lines. Lets see what happens
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Anticipating a rejection of the bullish trendline before hitting TP1 (4Hr Resistance) followed potentially by TP2 (Daily Resistance).
SL just below the previous low on the trendline.
Checkout my oldest trades, look at the success rate & accuracies.
Ive been holding this Short since the dawn of time.
This will be a big £ trade.
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