Please note that this is only for educational purpose .
Trap price within a support and resistance level
if price pushes and breaks through either the support or resistance
we want to see price close above one of the desired zones. once that has occurred
we wait for price to retest the zone and show that it respect the zone as a new resistance
or new support...
On the FTSE 100 or UK100 There is an exciting formation that I have been following for a month now.
This could start some serious selling ... lets see how it goes (I seriously hope this isn't the case but hey ho...)
Short & Simple mark-up for GBPAUD. Hoping to see this fall bearish to at least 1.85000. My initial target is set to 1.80000 and second target reaching 1.76000 overall on the monthly perspective. However, things may change drastically due to fundamentals and some restrictions of COVID being lifted in the UK. If this goes bullish, I’m hoping for this to be after the...
-Looking to short this pair on the reversal of the 61.8% fib level which is also in confluence with the supply zone.
-Price is also below the EMA which indicates bearish signals.
-Top down analysis from the weekly and daily show a bearish trend.
-Very good opportunity to go short of this pair.
-Lets's see what happens during the week!
I am hoping to see EURUSD fall bearish this week. As it just spiked through the 61.8 region of the fib level which may suggest a downtrend to around 1.07500. I'm hoping it retests the support level as this point and bullish momentum pushes the market back up to 1.11000 or above. If the support falls below the 1.07500, I'll be expecting a continuation of the...
Looking at NZDUSD for the coming week, looking at the chart pattern i'm expecting price to retrace to the support zone and following the hour trendline. The stochastic indicator is also showing the market is over bought, suggesting a drop.
With a 1:2 risk to reward ratio, looks to be a nice profitable, bearish setup. What do you think?
There is an opportunity to short the SP 500 on bounce off the descending channel support line turned resistance.
- Short entries may be initiated now at the peak of the recent pullback from 2726.00 around the 2770 region.
- Stop Losses should be above the swing high of corrective 2772.6 (Red Horizontal)
- Target Point A: 2726.9 (Green Horizontal)
Good sell opportunity on this pair as from the weekly and daily showing bearish signals as on the weekly there is a descending triangle since mid December 2016. On the daily, I am waiting for price to reach 61.8% fib level and there could be a potential reversal from the 50 EMA which in total shows three confluences from the weekly and daily timeframes.