This is using last active wave to trace a
breakthrough trend strategy.
UJ need to pull down to gather an impulse to break
the upper resistance line to confirm a long term bullish
direction.
Then will see 119- 124 zone as weekly and monthly target.
Less is more!
Current prices are near previous lows. An increasing MACD and RSI indicates build up for a long opportunity.
Higher highs and higher lows have formed in the weekly chart for Wheat, signalling recovery from the long term downtrend.
For confirmation;
1. increasing MACD histogram - Check;
2a. overbought RSI levels - Check; and
2b. increasing RSI levels -...
There is a rule in trading, that prior resistance and support never expires - the theory held true. Also, the moving average provided support. I bought at 1.30
Had a very nice conversation about this pair with one of my clients last night and wanted to share this morning now that not much has changed overnight. There are 2 setups on this chart one was a double bottom which can now potentially turn into a 2618 opportunity at MINOR structure & the second is a potential AB=CB pattern with fibonacci confluence that can...
In Nikkei, the signs are pointing downwards. There are several signals that indicate falling prices in the Nikkei. On the one hand, the repeatedly tested resistance could not be overcome and on the other hand, the CCI also issued a sales signal.
As a stop loss, the 19,800 is quite good and as a take profit 19,300 is a good choice. This results in an excellent...
