The EURCHF has been testing this level on the daily and 4-hour time frame, with a teasing ascending wedge and multiple RSI divergences. I will wait for the wedge to be broken and the price to retest the level before I place a trade.
Could history repeat itself? Well, I hope so :)
Looking at the beginning of the current bull run, which started end of Jul 2021, the price was @ 29K, shooting to 52K in 45 days. To blow some steam price pulled back to 50% FIB level, which is also a recent support level, which is also a 200 EMA dynamic support. Once reached this strong level, it bounced back to...
JPY has been bearish significantly in the past few days, pushing prices across all pairs. Could JPY start to reverse? Well I hope so, and I picked up this EJ in specific as I like the price action I see. All are explained on the chart.
EJ has been extended for many days, with an overbought RSI across many time frames. Price has bounced a little bit on the weekly supply zone, and broke the trend on the 1H timeframe, indicating a bullish move. I anticipate 100 to 200 pips retracement of this pair.
USD is bullish, yet on EURUED 1.16 is a strong level that pushed bears to the upside last week. Which direction the market will push price amid the events we will witness today and tomorrow? Going to be interesting to see.
Who can anticipate the new journey of the BTC? I would say the green path, especially when it breaks the 41K, the next resistance would be 50K or even 60k. Ley us see :)
I am in a long position EURCAD. A divergence identified at the reversal of the level of structure, with a break of the downtrend giving a good signal for entry. 50% @ T1 is 1:1, and 50% @ T2 is 1:2.5
I am Long GBPAUD buy stop @ 1.81850. Price has reached a strong level of structure, showing reversal bullish engulfing candle on the 4H time frame. Two positions are placed, 1:1 and 1:2 each with 1% risk on equity. Let us see how she will play.
A 4h timeframe channel is formed inside a bigger channel on the 1d timeframe, in an uptrend. Will wait price to pullback to the lower side of the 4h channel, then wait for a reversal, followed by right candle formation to enter the trade.
My favorite formation came to success AGAIN.
1) Price bouncing on the daily support level
2) Price is also bouncing on the lower side of the daily uptrend channel
3) Oversell confirmation by RSI
4) Proper candlestick formation triggering the trade.
Easy Simple, and 1:1:5 R2R.
The 4h downtrend started early last week has been broken towards the end of the week, creating a new upwards trend above 50 EMA which is my favorite formation, reaching the same level of structure before tanking a little bit bouncing on the trendline support. I will be expecting the price to break that level of structure then pullback where I will be waiting for...
The 4H trend downtrend establish at the beginning of last week has been broken, and the price has formed a new uptrend. Price also broke the level of structure and pulled back before moving to the upside again with a nice engulfing candle formation. I am long with a 1:1.5 R2R.
Price hitting this demand zone level of structure (support) with the RSI oversold indication, along with a bullish engulfing candle, giving me no option but to jump into that long with a 1:2 R2R ratio. Fingers crossed she will keep the bulls in her favors.
A classic breakout trade in the daily uptrend (4h trend has been terminated). Will wait for the price pullback, along with bullish candle formation engulfing the previous bearish candle to signify the reversal and will jump to a 1:1 R2R trade.
