What we see here is a typical downtrend and a possible trend continuation: Some accumulation and breakout to the downside with a clear bearish h4 candle. Good risk /reward is worth it a try because this pattern works most of the times. The only thing that could stop us is a manipulation or hard news.. so take care.
Feel free to leave your thoughts below!
Priceline of US Dollar / Canadian Dollar forex pair is moving within an up channel and now hitting the channel's support.
Volume profile of complete channel is showing less interest of traders at channel's support
But MACD is strong bearish and Stochastic is strong bearish so i would suggest if the MACD turns weak bearish or Stochastic gives bull cross then buy...
As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.3225.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=1.3175.
TP4: S2=1.3155.
Set the stoploss of these orders at breakout of R2=1.3245.
Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout...
As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.3225.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=1.3175.
TP4: S2=1.3155.
Set the stoploss of these orders at breakout of R2=1.3245.
Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.3265.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.332.
TP4: R2=1.335.
Set the stoploss of these orders at breakout of S2=1.3245.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.3265.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.332.
TP4: R2=1.335.
Set the stoploss of these orders at breakout of S2=1.3245.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
Midterm forecast:
There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 1.3170 would begin in Midterm.
Technical analysis:
While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A trough is formed in daily chart at 1.3050 on 11/02/2018, so more gains to resistance(s) 1.3225 and maximum...
Midterm forecast:
There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 1.3170 would begin in Midterm.
Technical analysis:
While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A trough is formed in daily chart at 1.3050 on 11/02/2018, so more gains to resistance(s) 1.3225 and maximum...
Midterm forecast:
There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 1.2885 would begin in Midterm.
Trading suggestion:
By appearing primary signs of entering the market, new entry zone and short-term targets would be published.
Technical analysis:
While the RSI uptrend #1 is not broken, bullish wave in...
Wait for correction to end to sell
It can go up for another C and present a sell setup
It also can correct longer and prove to be a more complex correction
Either way, I'm looking to wait for the break to sell.
