The London session is in full force and the only solid trade setup we are trading today is USDCHF.
SL 0.98523 ( pips 14.2 )
TP 0.97870 ( pips 51.1 )
The RR is a solid 3.6 because the SL is pretty tight. I will look to move to break even and add on 5 pips after 20 pips in profit. Then Might re-think my TP as the contraction is...
A major contraction breakout followed by a retest with a possible double top.
2 Weeks ago the DAX broke out of a bearish reversal contraction (Rising wedge), this week price headed strongly for a retest and was rising from Monday right until Friday when the retest was achieved and the price started moving lower which makes us believe that in the new week price...
A nice rising wedge has been formed after a long downtrend, and by following the pattern a nice drop could happen.
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The pattern on GBPUSD daily chart is more of a rising wedge. If this is the case, then cable could likely be ready for a short trade around 1.28 level. However, overall market sentiments is still bullish
The bearish nature of this rising wedge, a correction of the previous dump will end up in a bear break around 10/19.
Trading on both sides. I'll open a long position now with a tight stop, and I will close it around $ 8.800 and $ 9.100. Right after I'll double a short position.
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eurnzd was in this consolidation period for a while now but there was some big moves on 4hr chart that I took notice of. Price rejected daily trendline and made a bear flag which worked and than price made another correctional move followed by a rising wedge which gives me 2 confirmations that markets are going go...
BTC is looking bearish at this moment in time. saw a yellow rising wedge occur and the retest of the pink resistance zone + another new rising wedge. Waiting for price come down to the trendline which is at the 9000 level.
cadjpy on the weekly doesn't show a lot apart form basic support and resistance but when I went down a timeframe, I saw daily trendline making lower highs and lower lows.
4hr/1hr timeframe showed me a rising wedge occurring while breaking out and making a head and shoulders pattern.