In this screencast I say that the recent weekly price action in Wall Street is a correction in a bear market. Price has moved into a critical zone and is struggling to stay afloat. This does not mean that it is bound to collapse. It means that price can probably move south.
very easy trade here. There's a Bat pattern completing right now on this 4H chart and i'm going short, with stops above X and targets along with Fibonacci (0.382 and 0.618 of AD). Positive note: price is in overbought and divergence conditions on the RSI below.
If you have any question, feel free to comment below.
Otherwise, see you in the next chart!
Price has tested the downwards channel multiple times then broke to the upside where it has hit our price zone. price should reverse
TP 1 - 9.27954
TP 2 - 9.21655
TP 3 - 9.13943
SL - 9.34018
have a great day guys, please use correct risk management
The long position in GBP/CAD has been taken to test correlation with the UKOIL trade place earlier. Analysis on this is currently being kept to myself until the trade is closed, whether TP or SL is hit.
Bearish engulfing below 78.666 level, had two massive wick rejections to the upside indicating this pair doesn't want to continue bullishly. Possibly the last touch on the trend line as i have found the 4th touch can be a pretty significant reversal touch number (if that makes sense haha). I am also bearish on AUD this week overall, but am thinking we will get a...
we have 2 potentials here.....
1. new have our first reversal zone ranging between 74.100-74.400. we have a already had one rejection in that zone. the TP we have is 140 pips. mini head and shoulders
2. our second reversal zone which ranges between 75.550-75.100. back towards the end of september we see this level reverse so if the first idea breaks I will see...
Following reversal around .25 we see a triangle pattern being formed.
24/12/18 we saw a breakout with a new high around .273
Pullback saw resistance at .267 become new support.
Here we buy expecting a long breakout.
Target 1: 1.27
Target 2: 1.273
Target 3: 1.28
HI, learning trader I have drawn support and resistance starting from a monthly timeframe.
Looking at the daily timeframe I can see price is approaching strong montly resistance and bullish momentum is decreasing as shown by a longer wick on the most recent candle
I believe this is a potential short once we get conformation.
please leave critisim
I overview what are some of the possibilities and probabilities over the next few weeks for Wall Street. I compare again the current situation with that of around 2008.
Preliminary action on small time frames on Weekend Wall Street, do not look exciting for a trip north on Monday. We shall have to wait and see, as Mr Trump often says.
I do not know what's...
Price is currently in a descending channel testing the channel support and resistance multiple times. However, price is now testing channel resistance as well as a resistance level (which was previously support but now is a key resistance in the market). Price action is stating three rejections and now has formed three 'Shooting Star' Japanese candlesticks which...
This week Bitcoin has reached the long-term support, that is 78.6% Fibonacci retracement level at $4387. At the same time it reached the bottom of the descending triangle, and almost tested the 200 Moving Average. Fibonacci, applied to the correctional wave up after breaking the uptrend trendline, is pointing on the $4050 level, that is a 161.8% retracement....
reversals across the channel
signaling bullish trend
open 3 positions, take profit on each fib levels. However, keep track of the trade as there maybe chances of reversal on 38% fib level.
update your stop loss according to the trade, keeping stop loss close to 40 pips below the ongoing rate
Bullish divergence on the H4 using stochastics shows price exhaustion and a well due correction for this pair. Cable should be well supported at the 1.2920 level and on the H1 we see decent rejection of this zone, which could be the start of the reversal of around 120 pips.
Only on USD exchanges since USDT exchanges closed at a different price.
Fractal for bull market of 2015-2016. Back then we saw a bull market (from the end of the 2013-2015 bear market) which ended with a weekly bearish divergence on the RSI.
The bottom of the following ~70% retrace in 2016 was marked by a bullish weekly divergence.
Now we can see that the...
- Major daily support level of 1.1530 holding up as we can see several candlestick rejections on the H1 timeframe
- Bullish divergence on the H1 using both stochastics or RSI which paint the same story of unsustainable price decline
- EUR/USD seems to be ranging just above this key level before it decides to break 1.1620 and aim higher
- 60 pips target with 35 pips stop