Price has respected our support/resistance level before ( pointed out by arrows ) orange arrows mark out where price respected this level as support and our purple arrow points out where it is now currently testing this level but as resistance.
Also coming into play at current price is a lovely trendline that has been respected a number of times before ( I'm sure...
You can see that price has respected this strong daily resistance level before ( purple arrows ) and price is on its way back upto it at the moment, we are looking for a bounce and further bearish movement possible down to our support zone ( green box )
This trade will give you around 250 pips if it works out to plan... and if it does and you take it then I will...
We can see that price has respected this lovely trendline TL many times before, and we are expecting price to continue doing this... So we are going long on this position with a possible very good risk to reward target.
Get on this trade and thank us later... mines a vodka and redbull :p
This level ( green line ) is not to be ignored.. it is a strong support ( orange arrows ) and resistance ( purple arrows ) level.
Price is currently sitting at this level and using it as support at the moment, we are expecting a bounce and some further bullish movement.
Wiping all the indicators off the chart reveals the natural beauty and makes it simple....
We can see that price is respecting our trend line and has recently spiked through it, the current candle is a big bullish one and we can only see this level been respected again, so bearish movement from here... SIMPLICITY IS KEY.
Clear your mind of the bull#hit and trading is really simple.
Price is respecting a lovely trend line TL, and price isn't far away from key support but with the current weakness with AUD we are expecting price to push its way through this strong support and although the USD isn't that strong at the moment we feel it is still too strong for AUD.
So if we get a break of support then SHORT the hell out of it as it could drop a...
Price broke through our TL to the upside but then hit strong resistance, bounced off resistance and now is currently breaking back through our TL to the downside.
We will be keeping an eye on this trade next week to see if price bounces off our strong TL and makes further moves down ( bearish )
This is like the age old question... should pineapple be on pizza?...
We are looking at a lovely sell on this pairing with a possible retest of recent highs, in our last post we could see price following our TL down to our area, price did break this TL and we can now see price re testing our resistance level before making a move lower to our green zone.
Remember trade with patience, without this you will loose to the market, also...
We are waiting for a re test and either a break or bounce of support/resistance level marked by our purple arrow.
As you can see for yourself this level has been used as strong resistance in the past so might come down break this level and carry on using as resistance, or price could get rejected by this level and us it as support.. Either outcome we can see this...
We can see a clear bounce off key support ( green line ) which we had an order placed at, we also entered another long position at our purple line.
We can see this trade picking up 100+ more pips as recently this pair has been respecting all our key levels.
Simple clean charts = clear vision ;)
So we are long on this pairing... get on it.
Price has respected our trend line ( blue line ) broke resistance ( green line ) and is heading up to our TP zone ( green box )
Obviously this pairing is in an up trend as indicated by our trend line ( TL ) if you cant see that then go book an appointment with your optician ;p
Also if you get the daily chart up on this pairing you will see the last 3 candles...
Here we have a trend line breakout and price closed above strong resistance thanks to the strength of the GBP last week, now all technical point to more bullish movement so we are still long on this pairing as we explained in our last GBP JPY post on FEB 28th if you want to take a look at that.
A break of 2 strong levels could see price visit the moon again... so...
LONG.... simple as that, we have had a lovely bounce off our support line that has been respected many times, and with USD weakening we can only see upside movement from here.
That is all, short and sweet ;p
Short opportunity, you can see price has touched our resistance line a number of times ( purple arrows ) price is currently at this level now and we can only see downside movement... so get on it and thank us later :p
Orange = support
Purple = resistance
It is crazy how well this pairing respects strong support and resistance levels, if you are a beginner then defiantly stud this pairing and GBP CAD as they show more respect to these levels than any other pairing.
Now we set some orders at both these levels and price has just touched our sell order so we are now live and will...
Simple really, I got this chart up and it took me 30 seconds to spot this level, Drawn on are orange arrows where price has tested and respected this level as support, it really is not hard to see at all.
So price has already touched this level and bounced slightly, we have set some orders around our support line so if price comes back down to this line our...