Following my previous idea (see below), the zones given have come through perfectly.
I have added more zones around $0.20 as I expect price to continue downwards to complete the retracement and trendline retest.
This is gearing up for a huge 5th wave coming in Novemeber.
Once this election is over any uncertainty regarding global trade aka anything to do with a...
CAD/CHF price has been in an ascending channel for a few weeks. We can see the resistance zone level (1) @ 0.6921 where price has touched at this level, retraced back to the support line of the channel before reaching resistance again, and breaking through to the resistance line of the channel pattern (2). Price then rejected at this line and reverted back to the...
Hi traders .
Base on the main uptrend and trend line touch, I expect upside moving .
So price crossing the sub resistance line in mini time frame, would be our best enter point .
We can consider two targets .
Tp1 : below the last high in 1.1895 area
Tp2 : Below the main resistance in 1.1912 area
And below the main uptrend fouls be good area to support our...
AUD/CAD has retreated from its resistance level at 0.9636 and has retracted down to support level 1. Following this move, I anticipate one of the below scenarios to follow:
1. Price rejects at support level 1 and price reverts back up to the 0.9636 resistance level. If this occurs, I will wait for clear confirmation by a closed 4H bullish candlestick and will...
EUR/AUD has returned back to an area of support around the 1.6355 level.
Previously we have seen price hit this level of support and then retrace upward towards resistance.
We could see bulls come back into play at this level to drive the price back up to the area of resistance.
I will look to enter a long trend following confirmation of bullish candlesticks...
GBP/CHF has been in an ascending channel pattern recently, with a possible double top forming.
What is a double top?
A double top occurs when the price moves upward and struggles to continue its bullish momentum and so it returns back down only to move upward again (forming the neckline) and reverse at the same price level. At this point, we look for the price...
GBPJPY H4 - UK PMI data was positive, along with retail sales data before the session had even kicked off. Looking to see if we find support around 138.850, we could then look to trade back up to resistance.
A nice short set up forming here.
Price is currently within the resistance level. I am looking for further confirmation from bearish candlesticks to show rejection at resistance.
One price crosses the trend line at 0.64990 I will look to short this pair, providing that the RSI, RVI and MACD all show signs of a bearish move.
GBPAUD H4 - Still half the clock left on the remaining H4 candle. But actively looking like we are breaking the significant resistance region, a close above, and retest would be good for long opportunities, very similar to the GBPCAD analysis just posted!