Small counter trend opportunity on the lower time frames on the EurGbp, coming off a decent resistance level and massively overbought on the RSI we can see some relief, conservative targets taken as it is only a relief trade,
EURAUD rejecting the resistance zone at 1.63500
2 nice daily wick rejection candles and it appears the 4hr bullish trendline has now been broken. I am aiming for 1.60 before waiting to see if price breaks through the daily trendline marked on the chart.
Stop loss placed above the wicks to avoid any SL hunting and further tests of resistance.
It has been a while since I posted one of my plans for the week ahead and I've missed the process, this week I would like to share my Compass Group (CPG) set up which I think is a great long. Compass posted strong half year earnings on the 15th of May which was well received by the market sending the stock up to an area that has played a role as resistance in the...
Plotted a narrow channel on the 4hr that price seems to be sticking too. Interested to see when it will breakout, for the next 72 hours however I anticipate a few retests as plotted with the blue arrows.
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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.
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This is a potential EURJPY short idea. Third touch of descendent trend line, completing the final wave of the A,B,C,D,E Elliott's wave formation. We have a cross of trend lines, the support trend line hasn't been retested as resistance yet. We have a 61% fib level in a PRZ (Price Reversal Zone) which indicates a strong level. the fact that price is also on a whole...
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NASDAQ - LTA de 2008 Segura para dar novo topo ou cai para 2007?
Niveis importantes a serem testados:
- LTA que vem desde 2008 (Azul)
- Resistencia que segurou o preço durante 1ano (Amarelo)
Dependendo das noticias que surgirem nos proximos relatorios o preço é segurado pela LTA ou caso sejam resultados pessimistas pode mesmo...
As you can see from the chart that this pairing really respects support and resistance lines ( the big players, banks probably love this pairing )
Price is now coming up to a well respected resistance area where we are expecting price to bounce so we can collect a few pips.
We will not be manually entering this trade but placing an order as if the trade breaks...