Looking for a break of this current weak zone that price is within. This zone may make price stall for a short period of time giving traders false hope of a reversal and induce them to buy early. Expect price to drop down to our last demand zone giving us higher odds.
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Simple trend reversal trade on NZDJPY. Bearish momentum seems to be gone and price has broken up and made new highs now with price breaking the bearish TL.
I am entering long on the 0.618 fib retracement with a target of a new higher high around 72.800 and maybe higher.
RSI & Stochastic are showing that TSLA is very oversold.
Extremely high support at ~$180 is within reach and is the key area for a reversal.
Long term uptrend line is also within reach and shows confluence with the key support level of $180.
LONG TSLA within the $180-190 region.
USDCAD Potential Short Position
USDCAD pair is approaching not only the 1.3500 psychological resistance, but the 4hr and daily resistance level also.
There are already signs of reversal as buyers are leaving the market. To enter we must wait for a clear rejection of the resistance.
High potential trade with a good risk/return ratio.
AUDNZD retracing into key horizontal and fib support levels, with what looks like a dead cat @ 0.382 and Feb high.
50 and 100 EMAs on the daily could also act as support in between the 0.383 and 0.5.
Previous horizontal supports matching with the 0.5 and 0.618 fibs.
Obviously the 0.382 ,Feb high could still hold and waiting for the 0.5, 0.618 level could leave us...
Several important things converge on UK Oil price (on weekly chart) creating probabilities for the south on most lower time frames:
1. Original Grade A ATR switch for the south.
2. Bullish rebellion into a near 61.8% Fib
3. Weak squeeze momentum rebellion (so far).
4. Horizontal zone of congestion near recent price.
5. VMA resistance level.
Note that VMA and...
We are looking for a possible turning point in our green zone then a run to the downside, this area is key on all timeframes and has been used as good resistance, so we are looking for it to be respected as resistance once again.
We will keep you updated on developments of this trade.
The most recent Daily candle closed as a bearish pinbar, and on the 4 hour price closed below the consolidation zone.
Entered into a short on the 4 hour close, targeting the next 4 hour market structure level
Price on the daily is uptrending, and has recently entered a zone which caused price to begin a long bearish move. There are signs of indecision and bullish rejection, as a doji spinning top and doji bearish pinbar was recently formed, both strong signs we could be seeing a change in momentum to the downside.
Dropping to the 4 hour, we can see...
On the daily, price is in uptrending structure, and has run into the level 1.87000, which is a prior high. As price first approached this level, it was rejected and formed a candle showing a fair amount of bullish rejection. The following two candles have tested this level and was also rejected. The first of the two candles shows indecision, the second...
Our entry order got triggered in yesterdays trading day & the pair has currently been in a consolidation zone for the past 4days now between 0.69090 & 0.68500, We are looking for a clear break & retest of 0.68500 for further downside momentum. If the 200ma fails to break we will be looking to close the profit manually.
Beginning with the monthly chart, we can see that GA is currently resisting off of the 1.8500 zone which it has done in many previous tests. As well as this, we also have a support level on at around the 1.7300 level which in previous tests has proven to be a strong level of support especially.
Dropping down to the weekly chart we can now see the true...
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
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.