The pair has started to rebound after last week's Higher Low within the 1M Channel Up (RSI = 61.167, MACD = 0.070, Highs/Lows = 0.0555). The 1D RSI has still room to rise before reaching the 68.35 - 72.00 peak zone. Since every Higher Low within the Channel Up has extended at least a +4.83% we calculate the next Higher High around 4.4500. Our Target Zone is 4.4000...
Pattern: 1D Channel Up.
Signal: Bullish as it is approaching the Higher Low zone of the pattern.
Target: 4.3800 (based on the Higher High dif).
*note if the 1D MA50 breaks potential decline towards the 1D MA200 (strongest long term buy signal).
The price is trading within a 1D Channel Up (RSI = 56.303, MACD = 0.018, B/BP = 0.0098) and is near completing its Higher Low (Highs/Lows = 0.0000). The next Higher High extension should be near 4.18138. Long with TP = 4.16950.
USDRON is consolidating on a Higher Low on the 1D Channel Up (RSI = 54.485, Williams = -49.880, Highs/Lows = 0). Taking a long, TP = 4.04165, but as you see on a very tight SL.
Pros
Correction of the 50% of the last downtrend
Touched the long uptrend
The USD has a strong macro uptrend
Exit from lateral consolidation/triple bottom
Divergences on week chart
The objetive is at 38.2% of the last downtrend
Cons
The last daily candle is bad.
Strategy
Buy a half at market price
Buy the other half on a pullback
After the stop loss, we have a sense of security at 100% and give yourself a good chance.
D obviously changed to this D+. After a month or later, we could reach a good price when we hit the line. When the price goes up, we will move the stop up. If we stop the loss, we can buy more again, until the long run is successful, and wish the traders good luck.
USD is tough these days. Any news or tweets can swipe your setup off the ground in a split second. That's why in times like these I look towards less popular pairs. RON have been fairly easy to work with. It just did a second tap on 4.1743 resistance. It might break it and find support at 200MA (short). Or wait to see if it breaks the 10EMA (long). RSI and MACD is...
PRICE SEEMS TO BE REVERSING FROM 4.1 ZONE WHICH HAS RESISTED PRICE MULTIPLE TIMES IN THE PAST IN WE GET THE RIGHT TYPE OF BEARISH CANDLE TODAY WILL LOOK TO ENTER AND TARGET THE 3.94 ZONE
