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.
Looking to go long if this the current 4 hour candle can finish bullish..
if it doesn't happen will look for a different candle stick set up but will have to be at the same level to complete the inverted H&S pattern.
Any questions feel free to ask
Possible short term trade on the CHFJPY
Japanese Index has started to fall so some currencies are gaining in strength against the Yen
Any questions are welcomed and will be answered
Lets see how it plays out
AUDUSD looks like its struggling to get down past this level yet again. could be a chance to grab some quick profit.
Or it may go longer term and move higher. But with the rate cuts its highly unlikely
Id be definitely looking for a move up to 0.674-0.675. Then it may look to reverse and move lower.
Any questions feel free to ask.
Looking to sell the weakness of Europe and Brexit chaos. Looking for reversal on the Daily to continue.
Entered on short on a bull trap on the hourly chart.
looking for a multi day move potentially adding size when the opportunity arises
pair climbed high breaking the highest res zone , forming a new zone, however price is dropping , DOUBLE TOP POTENTIAL, after break of neckline and price pushing below , zone low , strong sell must be anticipated.