Lovely shorting opportunity on the 4 hour.
Previous daily structure for possible reversal
Can trade off of the break out candle - or wait for a pull back to the consolidation zone then enter short
I'm more aggressive so i will be taking the trade depending on how markets open
check on Daily TF you may see if clearer what i am seeing
Broken out of the channel formation to the upside.
We have a 38.2% Fibonacci pullback level of 1.2116 from 1.1851 to 1.2279.
Bespoke support is located at 1.2116.
There is scope for mild selling at the open but losses should be limited.
Expect trading to remain mixed and volatile.
We look to Buy at 1.2115
Target 1: 1.2270
Target 2: 1.2345
A lot of potential for long positions at the current region. After a big push up from the ecb news last week, price rejected the daily trend line but not enough to suggest a break out of the cards. Price is now rejected our support region highlighted. Waiting to see if we see more rejections to confirm a long trade!
on GBPCAD next week I will expect bullish continuation within a rising parallel channel.
On my focus will be a supply zone around 1.64 level,
I will be looking for a short trade in this area.
Bearish breakout of a channel will be a perfect signal for us to open sell.
Target levels: 1.62 1.60
Price has approached this daily level and started showing rejection, overall price is in a heavy downtrend right now so I will be entering a small sell position. I am holding a free telegram channel so drop your username or message me to be added.
Ahead of the Parlement decision and debate today, the market has recovered to the level 1.2261 where I believe the uptrend will be extended till the final vote outcome been released, much such as in the event where no confident motion was voted for against the previous government, at the time where Theresa May have been a PM. except for this time, the motion isn't...
the Bitcoin has reached a new level at 10,768 (4.35% of the previous high) whereas following the RSI indicator a possible diversion is possible where a pullback can be a possibility. Therefore the other 50% which suppose to be closed at 10,800 is now closed with the current level.
A good potential BUY opportunity on the usoil (all explained in the chart, TP, SL Target 1 and target 2)
50% closed at target 1
50% closed at target 2 ( with the trade set at 0 free risk trade after closing the first trade at the first target level)
The Bitcoin has crossed the level predicted at 10,354 (now 10,388), leaving us with a 9% profit for those who closed their trades at the level 10,354 for roughly around 4-5 days.
The BTC has also crossed the resistance level of the triangle, which indicates a strong breakout, and the market shows a strong Buy momentum, which might indicate a potential of reaching...