Our RSI reversal strategy has presented a short trade on GBPUSD earlier this morning.
This is a new strategy script we are trialling at the moment.
Entry details are shown on the chart and we are working the 15M time frame.
Take profit is the green line. Pink line is stop loss.
Trade history can be seen below this trade idea too for full...
Ethereum is at a really interesting place right now. We are approaching the previous bottom as well as the 200EMA where price can bounce. Price has respected the 200EMA for over a year and we could see another rejection of the 200EMA very soon.
We will be waiting for the descending trendline to break to take this up. First targets $2900 with stops below the lows.
Cardano is approaching an area of interest where we believe has the highest probability of reversing. We are approaching the 1.23 level within a falling wedge which is typically a reversal pattern. We also have the 78.6 fibonacci level and we are above the 200EMA. All these confluences give us a high probability chance that ADAUSDT may reverse in that area.
Good afternoon ladies & gents,
Crazy good day today. Opportunities every all day on all pairs.
Here's a little freebie for you.
USDCHF has stop hunted a significant daily low & previous H4 Low.
After breaking market structure we have our lower timeframe entry confirmations to look for a long.
The Monthly + Weekly indicate a rally in USDCHF.
In light of...
At first, I noticed the symmetrical triangle pattern but there was no clear indication of a breakout in a particular direction.
Zoomed out and identified a head and shoulders pattern and this normally indicated a reversal to the downside.
Hence, I have decided to short this pair all the way down to the previous resistance level of 105.6
Price has broken this ascending structure and we can see is retesting the bottom trendline.
Is this the first indication that price is reversing on this pair?
Lets see if we get fundamental confirmation!
We are currently testing 1.42 yet again on this pair.
A potential long term double top formation has occurred. Will this, coinciding with the 1.42 whole level be enough to turn the tide on this pair and put USD bulls back on top?
Always zoom out to the HTF and mark key long term levels - then scale down!
Here we have very simple structure for GJ.
Key levels drawn. A channel has been identified. We are in a clear uptrend in this market.
However, we are expecting a JPY reversal in the near future, so we can look for technical indications about when this reversal may occur, then see if the fundamentals are also pointing in the same direction.
Long term uptrend.
Price has been respecting this ascending channel.
We are very overextended on this pair.
Will we see a turnaround and reversal on the pair after topside of ascending channel has been respected?
At first glance this might seem like quite confusing, let's break it down for you!
We have several key levels in price marked on the chart.
We have identified the 1.40, 1.41 and 1.42 key psychological whole levels.
We have a Fibonacci drawn to highlight a potential long entry. Drawn from the swing low to the swing high, you can see the potential long entry has...
We have seen price break our descending trendline. Could this be a sign that things are starting to turn for the USD?
Have a great trading day, remember - Jobless Claims data release is out today and every Thursday.
Price has broken this descending trendline and the Canadian dollar looks like it could get some weakness, waiting to see some signs of hourly reversal patterns to get involved, otherwise right now, trading what we see, we are still bearish!
Bring up a chart! Identify the trend, using trendlines as above to highlight a channel can be useful with this.
Then, identify levels in which price has gravitated towards and bounced from on a consistent basis. You can see three of these key levels in the chart above!
This is simple market structure and can really help you with chart analysis.
This is indicative - not predictive - of a reversal pattern.
See-saw patterns at market tops and bottoms generally mean something. What that means is 'be careful'.
What more can I say? Nothing.
Disclaimer: This is not advice or encouragement to trade securities or any asset class. This is not investment advice. Chart positions shown are not suggestions and...
This is an interesting one! the pair hit the resistance at 85.00 and then started its short wave but around the mid point of the trend coloum it seems to have retracted with a strong reversal pip on the 4H time line. The STOC shows the buyers starting to take over as a crossover has appeared as aswell as a strong buy signal on the 1 hour timeline. the moving...
Managed to catch a nice 5.5RR on this pair today, decided to get in and out with the uncertainty of the pound.
Very simple elements:
Stop Hunt Fib
With a target of my key level (well just above as we don't always have to tap it exactly)