Aviva have been channelling down for some years and is currently in a rising wedge about to meet the long term resistance. I would expect that it will turn at the resistance and fall given how established the resistance is.
The alternative scenario is that it is about to break major overhead resistance and would be a fantastic long position, perhaps I am...
we have Bat formation completing near previous resistance area, if it completes it might be a good opportunity to short because of fib levels and structure confluence.
Stop losses above X leg and structure resistance , targets 0.382 FIB LEVELS
Feel free to share your thoughts in comment section,thank you.
Morning traders! on EURCAD we have a potential short bat formation might complete around 1.40820 levels. Several fib levels and structure levels are confluencing as you can see on the chart. So this set up can be good one to trade with more than 1:1 r/r.
Targets are at 38 and 61 % and stops are below X leg.
This pair did not present any intra-day longs so its back to the long term short bias. A lower time frame head and shoulders formed giving short opportunities. Prices are now back below key support and approaching an area of interest. If you are not in on this, shorts can be entered on a retest of 1.3280, a break/retest of the area of interest or a break/retest of...
Good morning ladies and gentlemen and whoever doesn't fit into two genders anymore.
Currently USD/CZK is showing potential downtrend. I've identified this by checking the W and D chart.
W chart shows a sideways momentum whereas the D chart shows a distinctive downtrend. I have also seen a double top form which could be beneficial for the analysis.
A short set up is nicely appearing here at this long term multidiagonal. Expect a big move downward here.
Also, this corroborates with my short views on the FTSE, as HSBC amounts for (currently) 7.3% of thw weighting of the FTSE 100.
Followers of my feed will know that I've been short balanced for the last week and half (ish), so this is a longer term chart illustrating the confluences that appear at major tops and the rough correction we should see.
Currently short audusd after rejection of double top structure. I'm expecting a roll over to make new lows at 0.70678 and ill be taking partial profits should the market get down to previous low. really nice risk reward on this trade as well