EURHKD is on a 4H Channel Up (RSI = 59.981, Highs/Lows = 0.0108, B/BP = 0.0243) but was yesterday rejected off a possible Double Top event, so bullish break-out confirmation is needed. Adding buy position with TP 9.23060.
The market structure has been broken in H4 and H1, simple put bearish orderblock didn`t hold, to go long, wait for retracements on smaller timeframes then fire in the name of Jesus.
Hey,
Strong EUR has caught our attention , the Euro vs Hong Kong Dollar is trading @ 9.23867 that is above previous daily close if you bare in mind the strong up Trend (view chart above) as well as the fact that we got 4 consequent up bars the following summery should be considered
summery: According to our trend following strategy we may invite for a...
I am looking at a possible inverse H&S forming on the EURHKD daily chart. In the chart I have outlined what I anticipate to happen in the coming days and also my preferred buy point.
Not a recommendation. Just thinking aloud.
This pair is looking to test lower levels.
Entry - 9.6210
Take Profit - 9.5650
Stop Loss - 9.7100
This is for entertainment purposes only. You can lose all your $$$ trading so enjoy watching traders getting it right or wrong instead. Let's see how this plays out.
Trading method: RSADVANTAGE Stage 5 system setup 95% accurate system manually forward tested over 3 years designed to stay out of ranging markets and only target strong trends. In this situation we are now waiting for Awesome Osci to go into negative territory for trade entry confirmation for movement to the downside. Market execution for entry, confirmation will...
Just as with EUR/USD, the pair doesn't want to fall. We can see on the weekly chart a continuation pattern unfolding same as the one on the 8 hour timeframe.
If it keeps this level and support, then an upward move is inevitable as the long term trend with Euro from we can see on the Weekly chart and Monthly is long.
I would suggest to wait for more confirmation,...
EUR/HKD 1H Chart: Bypasses 100-hour SMA
The common European currency is losing value against the Hong Kong Dollar in a minor descending channel. However, a combined pressure of the 55-, 100- and 200-hour SMAs most probably will lead to dissolution of this pattern already by the end of the day. Once this happens, the pair is expected to enter into a barrier-free...
