Here in this Educational Analysis we have a series of consecutive signals both long and short . Last but not least a bottom fishing program or in a more technical term a 3 consecutive bearish series BFP signal indicates that a trend reversal to the SMA20 resistance level is on the way
Pair was trending in a bullish trend and printed a bearish divergence on RSI. It broke below HL and confirmed new bearish trend. Short positions may be taken
For the last nine months, USD/HUF has been in a downtrend erasing all gains made last year. However, I believe it could change in the second half of the year.
The currency pair reached the key support level of 340 HUF per USD in April. Since then the USD price has been anchored to the level. Before the spring of 2022, the level of 350 was the key resistance...
The pair first went up near 354s and then retraced back 350.30. Now second round, and tried higher again, and RSI is still very high on 4-hourly, and also regression channel shows resistance $ 355s and support $ 348s.
I feel we may see a sharper decline short-term and at least we should see $ 349.50 again on the lower side.
Strategy SELL @ 353-356 and take...
This is a no-holds-bared, unmitigated, lock-and-load - and do it now! -, scenario. It does not get any easier than this, not even in the EUR/USD.
The Hungarian Forint is staring at a massacre, with immediate effect.
(... despite the fact that I applaud Victor Orban, the Hungarian Prime. Nevertheless, he has nothing left to work with. Simultaneously, he (still)...
The pair has been battled a bit, and the RSI for 4-hourly is very high. No doubt on news EU, but never the less, technically we may see a correction.
Strategy SELL @ 353.00-355.00 and take profit @ 349.00 for now.
Exiting Bullish Triangle with confirmation
Long Position
-----------------------------
Entry 348.085
Sl 344.000
T1 355.725
T2 360.724
T3 366.360
Goodluck
Finding the bearish divergence with cup with handle as continuous pattern but divergence found further it will not continue to be bullish it will be having bearish entry
Hey guys, I'm new here, but just wanted to confirm some of my recently learned knowledge. Based on the first kiss (Naked Forex) principle, I went back on the charts and found this pattern on US dollar v Hungarian Forint.
I noticed that between the 28th of April and the 18th of May, this pair was consolidating. A very strong support and resistance zone was created...
technical
monthly ⇌ support test ⇌ bullish
weekly ⇌ support test ⇌ bullish
daily ⇌ ici pattern ⇌ bullish
fundamental
cot data shows that the major speculators are bullish on usd so the move to the upside can be expected
USD-HUF Double-Top Analysis:
Bullish Trend will be converted into Bearish and the Divergence was seen.
Sell Stop level is at 369.900, Stop loss at 380.400,
TP-1 will be at 360, and the TP-2 at 350.
I'm expecting a bullish trend from that support zone now and according to Elliot Wave Market needs to complete wave 5 before a bearish swing which will be wave 2 with A,B & C then continue going up.
NB :Risk management is the e Key to become a Successful trader
