LULU has been rising in a trend channel since April. The price recently pulled back to channel support and then consolidated there. On Oct 10 the price broke above the consolidation signaling a long entry. The chart shows two trade scenarios. One is entering when the price breaks above the consolidation. This trade has a 6:1 reward to risk based on the estimated...
Lets see where it takes us. So far its staying within the channel and had a nice bounce of the 80 day Moving Average. Not in the green yet tho, keeping a close eye on the 6H MACD and volume before making a rational decision.
OANDA:DE30EUR This trend channel is still intact and will probably be till ECB meeting this week. Trade accordingly.
Multi TF analysis first, we see the Monthly/Weekly/Daily in congruence for an uptrend. On the daily here, we see that the market could be pulling back. I've got the fib zones marked with rays. As you can see there is the 50 and 61.8 percent level each identified with a ray. Additionally both those fib levels have confluence with a significant support/resistance...
R1 - Resistance (Down trend; lower highs) R2 - Resistance (5585 sat) S1 - Support (2885 sat) S2 - Support (2100 sat) T1 - Trend channel (upper) T2 - Trend channel (lower) FB - False Breakout / Bull Trap This project has cooled off considerably after reaching 9400, where it peaked after going 200% from Feb 6 to Apr 20. Scenario 1 (green) T1 holds as a...
a solid daily close above the trend-line would suggest a valid break out and would suggest wave (3) rally could be under way note alternative count in grey
It might be bit early to call the end of bullish rally since late December 2018. But we could certainly have a count that shows wave (C) of {B} has reached it's peak.
I threw away my idea about the major resistance as a profit target. Based on current price action and technical indicators, I likely expect the price drops down. If the idea about H&S is right, we could see one last leg up to $5350-$5450 zone before the price goes down. Then I expect a retracement at around $4800 and then another drop to the lower channel line, at...
The pair have a good uptrend run since it's sharp decline on 23 Feb 2019. I am seeing it to continue somemore if it breaks and closes above the immediate resistance line (blue dotted line). Major supply level at 4162. If price comes down to my prz levels between 3892 - 3912 I am interested to take a long position. Take note these harmonics completion levels are...
In this analysis we have a lot of strong bullish signs. I have to remind that we are in bullish MID-TERM trend and we have spotted near the bottom. It was 0.618 Fibo as good point for long. There is still open move for 0.786 Fibo but i really doubt that we could move there (it would be bottom of trade channel). Bullish signals: 0.618 Fibo retracement correction ...