-If Bulls take control of this pair then I will wait for a breakout of the triangle and look to enter on the retest.
-The 50EMA is below price which indicates bullish trend of the pair.
-Top down analysis from the Daily and 4 hour show bullish trend and signals.
-I will wait for a strong bullish candle on the retest and then I will enter a long trade.
The analysis published is of the USD/CHF pair. The potential opportunity I am presenting is a short position. Why?
The thoughts behind it are the pair has been trading in descending triangle for a significant period, and now is
trading within a symmetrical triangle. The position will be taken once there is a confirmation of the breakout and re-test.
While the price is above the support 0.9180, beginning of uptrend is expected.
We make sure when the resistance at 0.9900 breaks.
If the support at 0.9180 is broken, the short-term forecast -beginning of uptrend- will be invalid.
The symmetrical triangle taking shape and as a continuation pattern suggests we will soon see...
price is in a symmetrical triangle while going through a consolidation period.
On the lower time frame, price seems to be reaching a resistance zone while creating HL's and HH's. I am waiting for price to retrace to the newly formed minor support zone to create a new HL so that I can go long until than.
USDJPY is looking Bullish. Awaiting the break in the bullish symmetrical triangle for an entry signal. The pair has a support level within the symmetrical triangle of 110.580 where the price seems to have found support before closing for the weekend. The pair may break the symmetrical triangle bearishly by testing 110.500 level before turning bullish.
It looks like the price has pushed and is currently testing the resistance level of this symmetrical triangle. It is also at a short-term resistance level, it could be very hard to push past this level at the moment. This currency needs to be watched over the coming days to see if it is going to break or not. If the price breaks then we could see a push to the...
The price looked like it had lost some of its momentum as it started to get closer to the symmetrical triangle that this currency pair is currently in. With the strength of this bear candle it can be seen that the price is trying to push downwards. This pair needs to be watched as the triangle is starting to narrow and would have to breakout soon.
The price has reached a strong resistance level which has been holding for a while now, it also formed a symmetrical triangle. The momentum of the bullish move was not strong enough to break this strong resistance, this means that the price is falling in value. I believe that this pair would move further down over the next few days, as the RSI is in a great...
The daily graph is showing something completely different to the weekly, the daily graph is showing that the price may not be able to breakout this triangle on this attempt. This can be seen by the overbought signal that is being seen as the price gets closer and closer to the resistance level of the triangle. I would keep everyone updated on any signals that I am...
The price has managed to push towards the resistance level of this channel. This is looking very promising, the RSI is in a good position for a bullish move. But if the price fails to breakout at this point the price would move down to the support of this triangle.
This week the EUR/USD has hit a major resistance point, shown above, having been tested twice and upon both occasions the price has been rejected.
Watch closely this coming trading week, depending on news releases throughout the week regarding both the euro and US dollar (beginning Monday 24th April), could tip the price either way.
Will be posting an update and...
Price has opened at the support trendline today
Stochastic is oversold and currently turning upwards from that area.
Weak CAD can be seen in both USDCAD and here, EURCAD.
Not too good R:R ratio, but this trade fits my technical strategy so I will take it.
Have less emotion, and be more patient.
Good luck comrades.
On the 4H time frame we have a symmetrical triangle that i am looking to short upon the breakout of the lower trend line. There has been a lot of resistance at the 61.8 fib which coincides with the 1.23200 key resistance level which the bulls have failed the break above on the daily close. If you look on the daily chart there has been several rejections of this...