after a massive buying reaction last week we see that GBPUSD is slowing down.
rising wedge formation is a very good indicator of weakening momentum.
More the market contracts within the pattern, higher the chances that it will break to the downside.
I am waiting for a bearish breakout of the wedge to short...
This is my update for DXY.
Dollar index has recently broken below the support line of a rising wedge.
It is a very strong signal which determines a bearish sentiment.
We can expect a rally to 97.5 level and my midterm projection is bearish.
descending triangle formation on AUDJPY.
Pay attention to a horizontal support of a triangle!
Bearish breakout of support is a signal to short the pair.
We don't know how long the pair will be trading within the triangle,
but when it breaks, set your stop above the last lower high!
target levels will be:
though we see some correctional movement on silver
my outlook is still bearish .
currently, the market is standing just beneath the major falling trendline .
I expect that selling volumes will accumulate and we will see a bearish breakout of a bear flag .
for us, it will be a perfect selling signal.
very interesting situation on GBPUSD .
The pair is coiling around 1.27 structure resistance
and we see a clear rejection of this level.
The pair has just formed a double top pattern,
and there is a high chance of switching the sentiment from bullish to bearish .
Our trigger is the bearish violation of 1.255 structure...
on USDCAD there is a high chance to see a bearish continuation
after a pullback from 1.318 level.
the price has recently reached 1.324 level - significant level of resistance.
and we see a dodji formation and clear rejection.
target levels are:
T1 - 1.3205
T2 - 1.3180
Stop - 1.325
I was asked to share my thoughts on nat .gas :)
on a daily the market has reached a key level of support:
conjunction of horizontal support with a falling trendline of a broken channel and rsi divergence.
I think that buyers will push the market to higher levels.
Key levels of resistance are:
GBPAUD still respects the boundaries of the rising channel .
on Friday pair has reached 1.87 level.
what is interesting about this level is that
first of all, it matches perfectly with the rising resistance of the channel and
secondly, we see that in the past this level was respected by the market.
USDCAD remains bearish .
You can see that the market one more time has respected a falling resistance of the channel.
Our bias is bearish and our next mid-term target is 1.3 structure support level.
Strong selloff that we saw on Friday will most likely trigger more selling volumes and
after a small pullback, selling...
though this week was very bullish for EURUSD
I think that the market leaves clear clues that it is overbought and needs a pullback.
you can notice that on 4h chart we have a sequence of two rejection candles in conjunction with
RSI divergence and resistance of a rising channel .
For this reason, I think that...
WTI has clearly respected a key structure support level on a daily.
we see a sequence of rejection/dodji/engulfing candles and rsi divergence as well.
I have a bullish bias on WTI and currently hold a long position.
My stop is 50 level but I have entered a few days earlier.
Key levels for targets:
yesterday we saw a very significant movement on GBPUSD
and the pair is very very close to a key supply zone .
I think that many traders will take profits inside this area and structure trades will open shorts.
For this reason, on my trading radar is 1.249 - 1.258 area of resistance.
I will be waiting for a...
very peculiar trading setup on AUDNZD .
after a strong selloff, the pair has stopped setting new lower lows and
for the last two days, the market was coiling within a narrow horizontal trading range.
if bulls violate the range, I will buy the pair expecting bullish continuation to higher structure...