USDJPY has recently crossed the 50EMA meaning the start of a new trend on the 4HR Chart & is in a level of structure support that has been a major level of structure for this pair multiple times in the past. So, for this week, I will be looking for possible long trades out of this pair from our Monthly Support Zone.
Support Area (Brown Zone) = (98.900-107.180)
Happy Sunday Traders
Price is currently at the Monthly Resistance Zone. During the week, this pair pushed up due to the EURO strength. This area that the EURCAD has tested multiple times in the past as resistance and is possibly an area that we could see a nice Counter-Trend bounce out of this market. For that reason, I will be looking in this area for...
Happy Sunday Traders
This pair is currently pushing up very strongly on the daily chart. But, it has entered into an area which I called the Monthly Resistance Zone. This is an area that the EURCAD has tested multiple times in the past as resistance and is possibly an area that we could see a nice Counter-Trend bounce out of this market. For that reason, I will...
Good Morning Traders!
On Jun 21st I anticipated that EURGBP would reach an area that I call the Monthly Resistance Zone and that's where I'd be looking at selling.
Reason For Entry- Double Top Followed By An Engulfing Candle to confirm entry
I entered this trade on Monday and it has just closed out.
Good Evening Traders, let's get this week started with the zones I am looking for possible trades in for this week.
EURGBP- This pair is pushing higher above the 50ema but is about to run into a Monthly Resistance Zone (brown area) which is an area that I think we could see a nice counter-trend bounce out of the EURGBP. So, for that reason, I will be looking in...
The CBOE Vix index has bounced off of the 200 daily moving average and retraced over 70% from the march 2020 highs.
Looking at the news of shares fo bankrupt companies being bought and pumped, stock indexes making all time highs whilst there is zero fundamental reasoning makes me think this bubble will burst. Maybe not right away but quite possibly we will see...
I can see a few key pieces of technical analysis on the Dow Jones index that I am paying attention to. The first is the bullish trendline that was quickly broken back in early March this year. This shows a significant shift in momentum and the higher timeframe trend technically became bearish when this occurred. Since the lows of near 18,000 were made and the...