Good entry point for GBPUSD as signals on the left indicate.Will go out once stochastic RSI reaches overbought area
If ema lines dont cross each other to the upside signal wont be valid anymore .
Blue - 4 ema
Red - 50ema
As mentioned on previous chart for silver reverse head and shoulder pattern on silver is unfolding , interesting to see if it is going to follow the symmetry of the pattern and form a second shoulder to the right as it did to the left -the green line - in which case a nice swing trade inside the blue channel can take place before price finally takes off
Hidden Bullish Divergence on Silver,
There was a big sell yesterday on Silver but price created a higher low showing strength
As we an see on MACD number of sellers increased but price rested just above the 18 dollar mark .
AUDUSD is back at 0.66800 support zone and is showing signs of buyers at this level once more.
I am looking for a potential bounce of this zone now and price to make its way back up from here now.
Dependant on price closing above the support zone on the daily timeframe but I feel there is a lot fo upside potential for this pair.
Failed to keep that higher high at "A" platinum heading south to find more value
Staying above 960 would be quite good as we will have just one more higher low on the chart which indicates uptrend.
Failing to hold these levels we are going to find support back to that buy zone at 950- 956 BUT we do have a head and shoulder pattern forming as well that doesnt...
Platinum broke out of the descending channel as indicated by the bullish divergence on the 4h on the MACD
price got stopped at the 0.382 level , next stop upwards form here and once we pass this resistance is the first stop in the golden zone at the 0.5 Fib level as indicated on the chart .
Likely to see a consolidation next to this bottom reversal pattern as shown on the the Daily chart on the left.
on the right we see the 4hour chart where the price moves inside a descending channel giving a bullish divergence on the MACD , touching a buy zone of good support that has a bottom on 950 .
I am looking at the potential for a long term buy & hold on GBPUSD.
There is a nice daily wedge pattern forming with price being supported by a lower bullish trendline and the daily 50EMA.
Multiple daily wick rejections are forming at this current zone and I think we could see a push upwards and break of the upper wedge trendline.
Risky entry = buy now and...
Price is currently retesting broken support turned to Resistance with multiple rejections of this area (1.71846) on the hourly time frame. 61.8% is also acting as resistance around this area. I'm giving this trade a fairly big stop loss in case price wants to go higher due to a descending trend line, 78.6% and the 1.72000 area acting as an area of interest for...
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In this watchlist we go over a few day & swing trading setups and explain why we have taken the trade...
This on the weekly time frame looks so clean price has respected this lower zone for some time now and the way we have fallen even better for some big big moves to the upside
this will be a really good swing trade to place!