We should be reaching the PCZ of a bullish ba pattern very soon. You could either wait for us to hit it or enter now as we are very close and don't get a big harmonic like this very often,
Stop below X and TP at the 0.618 retrace.
MCD forming daily bearish divergence on all the indicators i have on my chart along with having a daily shooting star reversal candle and is currently below the contracting channel I have plotted; I think this has atleast a decent amount to go down from here.
XPTUSD (PLATNIUM) Possible Head and Shoulders Reversal Pattern
Long Period Of Consolidation
Wait for a break of this current consolidation and enter at the Head which is at 910.00 or wait for the confirmation of the Right Shoulder
Patience , let's see what price does
We are now at an extreme low, this pair has only been around this sort of level 3 times in its history! So that being said when I spotted price making lower lows and the RSI making higher highs I was just waiting for an entry. On the H1 time frame we are now creating a support area. Looks like a great trade setup 🔥
Good Afternoon Traders. Who's Ready To Make Some Money?
This is my setup for today.
There's still a lot of bullish pressure in the market however i feel the markets needs to correct before continuing with the trend
Reason for trade:
- Price Over Brought
- Strong Wick Rejection on the 1hr
- Strong Resistance Level (Respected 3-4 Times)
When trading pull...
- I see a good short opportunity for USDCAD at the reversal the descending triangle.
-EMA indicates medium term bearish momentum of the pair.
-38.2% fib level is line with the support of the descending triangle.
-However, price could potentially go back within the descending triangle and indicating it is a false signal.
-I will wait to see how price will react the...
-Very good opportunity to sell at the supply zone which is in confluences with the 38.2% level.
-The Ema is above price suggests Medium term bearish momentum on the pair.
-Price previously broke the ascending channel which is also another indication that price could retest the supply zone and then we could start to see bearish momentum for this pair.
There is a good opportunity to enter long on this pair just waiting for a retest on the daily demand zone and look for bullish candle confirmation.
Drop down to the lower time frame and enter a long on the pair.
The potential risk to reward ratio on the trade will be a 1:2 ratio.
Lets see what happens near the end of Friday!
GbpAud has retested the highs on the daily and is currently putting a head and shoulders pattern in. If you are aggressive you can take the shorting opportunity now at the right shoulder or wait for the break below the neckline.