As you cab see from this pair it has made retrace back to the trendline, at the moment price is going down I wont be entering the trade now. I'll be looking for another higher low to form and head back to the trendline. I will be watching the pair and waiting to see this to form if it doesn't then the trade will be not be on.
If it touches the trendline after...
Here we some have analysis on the pair NZD/CAD on the 4hr. I am going short on this when I see the opportunity at the moment it is going down but I feel that shortly it will start an ascent upwards. you could buy in as a short term buy when it bounces off one of the supports.
Looking at the chart when the price action reaches 0.89464 (Yellow Zone) this could be a...
This is a potential EURJPY short idea. Third touch of descendent trend line, completing the final wave of the A,B,C,D,E Elliott's wave formation. We have a cross of trend lines, the support trend line hasn't been retested as resistance yet. We have a 61% fib level in a PRZ (Price Reversal Zone) which indicates a strong level. the fact that price is also on a whole...
I am new to trading, any feedback or advice is welcome via the comments or chat.
The analysis has been done on NZD/GBP, I have drawn my trendline from the 4hr chart and plotted my support and resistance zones on the 1hr chart.
I think that the price will make a retrace back to the trendline @ around 0.5230 range at this point then I will be looking for a entry...
- HIT DAILY LEVEL AND SHOWING REJECTION
- OVERALL DESCENDING TRIANGLE WEDGE
- SHOWED SUPPORT AT MONTHLY LEVEL
- HIT FIB LEVEL 61.8% AND THEN SHOWED REJECTION ON THIS MARK
- BAT PATTERN FORMED!
- EMA CROSS OVER
- DOJI CANDLESTICKS FORMED AT TOP OF TREND LINE SUGGESTS TRENDS GETTING WEAKER AND GOOD OPPORTUNITY TO SELL
DOUBLE TOP FORMED
TREND LINE BROKEN
BULLISH HARAMI FORMED, WE COULD LOOK FOR BULLISH MOMENTUM UP TO THE 38>20% MARK ON FIB
WAIT FOR THE CURRENT MARKET TO RE TEST SUPPORT LEVEL
TAKE TRADE IF TREND HAS SHOWN A REJECTION OFF SUPPORT LEVEL
PUT TP AT -27 LEVEL ON FIB
Hi, please let me know if there is anything incorrect as I am new to this and trying to find my feet.
Here we can see another test of the resistance line, if this bounces off again we can look to sell this pair.
All feedback is appreciated.