1] Price has broken the general upward channel.
2] I will be waiting for a retest and further price action before getting into a sell position
3] Expecting price to touch the horizontal resistance and then movement to the downside (to the 80.00 level)
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This trade is looking promising from more down side but i will wait for conformation or a bearish breakout before placing a trade and i will filter this on the lower time frame for my entry always wait for conformation on any trade as we trade in probability only.
Looking at a potential short trade on NZDUSD, if you love trendlines you will like this chart! We have a medium term upwards channel. The thicker trendline above is a longer term trendline and it looks like there could be a fakeout on this one. Finally we have a shorter term upwards trendline in which price has broken out of and now I am waiting for a pullback...
We have a nice break out of the trendline, now we need to wait for a clear retest for enter a sell and aim for 100+ pips.
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I am looking to short EURJPY down to the 2 support levels I have marked on the chart. Strong bullish move over the past 2 weeks and the daily trend is considered bullish so I will take profit at the levels marked.
I anticipate a higher low made on the daily chart next but still a good chance to get some profit from a counter trend short.
We are starting to see signs of momentum slowing down. Support levels set with next week/next months plans in place for a return to lows if key level is broken. Given the current economic conditions, we cannot rule out a possible bull rally.
The greenback is looking strong but it approaching some levels of resistance and should see tests of the...
Lots of confluences for a short trade on GBPUSD.
Pattern Trading - Head & shoulders pattern confirmed on the 4hr timeframe (yellow circles)
Bullish Trendline Broken
4hr 50ema broken to downside
Lower low and lower highs now made.
Looking for a pullback in to the bearish TL and a retest of the broken bullish TL.
Price might keep dropping from here so the fib...
Nice set up forming on USDJPY with multiple timeframes coming in to alignment.
Daily timeframe is producing a new lower high with price rejecting the fib 0,786 retracement level and a previous bullish trendline to act as resistance.
I will wait for the 4hr chart to produce a trend reversal set up before entering. I want a lower low and the bullish 4hr trendline...
FTSE100 is making some nice consolidation on the 1hr timeframe and is now breaking the lower TL.
I will wait for a clean break and then short on the retest and lower high. Targeting new lower lows at 7000
SELL – BP (BP.)
BP p.l.c. is an integrated oil and gas company. The Company owns an interest in OJSC Oil Company Rosneft (Rosneft), an oil and gas company. The Company's segments include Upstream, Downstream, Rosneft, and Other businesses and corporate.
BP’s second quarter earnings came in flat as increased production offset lower oil prices....