MicKi

MicKi

After that huge rejection candle marked on the rectangle the price action has been a bit choppy for a few days having retested the resistance area twice. After yesterdays bearish engulfing candle today the pair has broken the support and I expect it to reach the 1.605 area (support not retested in the uptrend movement) This is how I have played this trade...

MicKi Updated 

WTI has been making a series of lower highs and lower lows (green circles) respecting perfectly a trendline (green line). Unfortunately I didnt really see any entry yesterday. I expect the price to continue lower to at least the next support area at 50.2 (red arrow) and possibly continue bearish in the near future (blue arrow). Let's look at the 4H chart and see...

MicKi Updated 

The pair is at a very important area of resistance from where it has bounced in the past (green circles) and has failed to break it in all 4 occasions that has tried. It has also entered overbought territory. Furthermore, in that bullish movement seen the last few days, the support area at 14.6 has not been restested and that is a major support. Lets look at the...

MicKi

After a few days of indecision where the pair was forming a base at a very important area of support, it has finally broken out of the range and I expect it to continue that bullish move. Let's look at 4H chart: It is a very simple setup. The pair has broken out of the rectangle and it is being capped by MA50 that I will expect to act as a minor resistance...

MicKi

We can see lots of confluence for a rebound on this pair : 1) Price rejected a strong horizontal support 4 times 2) Last trading day the pair printed a Doji (reversal pattern) 3) Huge RSI divergence But we can also see that the price might be capped a bit by a couple factors : 1) Descending trendline 2) MA50 If the descending trendline is broken we can see a...

MicKi

After getting in oversold area and finding support at the ascending trendline we had a few days with undecision candles. The pair has finally broken out to the upside. It has a lot of room to run and no real resistance until the 1.798 area. We will see how it reacts to that area, if broken we will be facing MA50 and MA200 before the next horizontal resistance at...

MicKi

Very similar idea to my EURTRY idea posted yesterday. You can find the link in this post. The price is hitting an ascending trendline (green) dating from February. That is a very strong support. It is also supported by the fact that it is a double bottom and we are seeing bullish signals. RSI confirms this view with a bullish divergence and the pair is very...

MicKi

Another exotic market in my Monday watchlist. The pair broke the descending trendline a couple sessions back (seen in next chart) but bears took control when the 4H 50MA was touched (seen in next chart) and made me hit my SL :( Friday was an interesting session. The price printed another hammer candle finishing the session right at the resistance area. That...

MicKi

After an impressive bull run, Silver had a very indecisive day on Friday printing a huge sideways candle. This could lead to a correction move to retest the 15.6 level that was broken without a retest. We also see that RSI has entered overbought territory. That, by itself means nothing but after that clean bullish move could mean that the price needs some oxygen...

MicKi

One of my favourite pairs this weekend. So much confluence for an upside leg. Let's break it down. 1) Price printed a doji on the last trading day. That is a somewhat sign of reversal. 2) Price printed the doji at a strong area of support . We can see how many times the price has jumped from this area in the past (green circles) 3) Price printed the doji at a...

MicKi

After sinking under the horizontal support at 9950, the ascending trendline and the MA50 Bitcoin seems to have rebounded but will this uptrend be sustained? My answer is I dont think so. If we look at the RSI we see that it is still plummeting, not gaining momentum at all and it printed a hanging man candlestick yesterday what it is a weak sign for a reversal....

MicKi Updated 

The Dow Jones hit historical maximums. I believe this is just a bull trap and a big fall is on the cards. We see on the chart a big RSI divergence and the price printed somewhat of a doji just before season earnings started. Also MACD (not in picture) confirms the bearish momentum. It has been reported that earnings this quarter are going to be pretty bad and...

MicKi Updated 

EURZAR has printed a long tail (hammer) candlestick at an area of strong support where we have seen the pair rebound in the past. Furthermore the pair broke the support and recovered in a very strong way. The market is also oversold and approaching the descending trendline dating from the beginning of June. I believe a rebound to the 15.886 area is on the cards....

MicKi Updated 

USDZAR has printed a long tail (hammer) candlestick at an area of strong support where we have seen the pair rebound in the past several times (green cirles). Furthermore the pair broke the support and recovered in a very strong way. The market is also approaching the descending trendline dating from the beginning of June. RSI is printing a bit of a divergence...

MicKi Updated 

The pair has printed a bullish engulfing candle closing the day right at support. After breaking the descending trendline a few days ago the pair has been consolidating around the support area and now it looks ready to reverse to the upside. Lets look at the 4H chart to see how I am planning to trade this pair. The pair is doing a bit of a pullback after not...

MicKi

The pair seems ready to continue it downtrend. After a couple of days of recovery yesterday it printed an inverted hammer closing right at support that has been broken already today. A fall to the 0.975 area is very plausible and probably it will keep falling until encountering the historical trendline ( purple line). We will monitor how the price reacts once...

MicKi

GBPUSD has arrived to an area where a rebound/consolidation could happen. We see various factors pointing in that direction : - The price is at a very strong support area that was rejected yesterday quite strongly. - We see a strong RSI divergence in the D - Price while has been falling has been forming a descending wedge what it is usually a sign for reversal -...

MicKi

Bitcoin is plummeting. We have seen a fall of 4000 points from the top breaking the 10000 area of support. Now it has also broken the ascending trendline (green line) dating from the end of April when the recovery started. I am expecting a free fall to the 8400 area and then further to the 6000 area, an area where the 200 MA (purple line) will also come in play....