Seems like resistance around 1.3040 is holding and what seems to be a rising wedge pattern. Are both valid enough to cause the price to break? Entry: 1.3030 SL: 1.3060 TP1: 1.2970 TP2: 1.2940
Are we seeing a change of trend? Price has been going up since May. The 78.60 Fib level seems to be acting as a support based on the end of May's price action. Entry: 0.7580 SL: 0.7500 (Due to FOMC and possible change of trend, I leave a much wider stop than I usually would to protect my position) TP: 0.7760 If this turns out to be a new trend, the goal will...
USD has been strongly favored in this pair. Rate increase paired with strong economics for US while weak data from Japan seem to back the current uptrend. Fib level seemed to act as resistance lately and have been pierced on several occasion which leads me to believe it could be more of a support at this point. Not to mention it's slightly below 110 which should...
Price seems to have slowed since Friday. We're around the 78.60 Fib level and seem to be rejecting the 200 MA. Even though that Fib level could act as support, most recent data shows it wasn't a strong support (May 20-21). A short entry could be possible. I'd like to wait and see how today closes to get more information on shorter time frames before setting up a...
Is this Fib level still valid? Is this support turned resistance level still valid? Is this rising wedge valid? The general trend has been bearish and fundamentally, USOIL looks like it's going down due to the talks of possible increase in production from the OPEC over the summer. So with that in mind, I could decide to hold this position beyond the usual 1:3...
Price seems to have slowed down at resistance. Entry: 0.7050 SL: 0.7080 TP 1: 0.6990 TP 2: 0.6960
Bull run since Feb came under threat in May and even though the price has been pushing down, it has done so very slowly. We're probably going to reach the 61.80 Fib support level as well as the 200 MA which begs the question: Are we going to see buyers come back in around 0.9725? Assuming we're in a bearish trend, I'd definitely look at shorting the 78.60 level...
Consolidation at the 78.60% Fib level. What looks like a triangle pattern has been forming since end of May. Could break out either way and if it does, TP could be at either 61.80% or 100% Fib levels. If it's a bullish break there's a greater risk:reward breakout trade Entry: 7760 (above the most recent high) SL: 7620 (below the low of that candle) TP1: 8040...
With the rumor of possible boost in production from the OPEC and Russia as well as US over supply, Was 73.00 the top? We'll know after the meeting on June 22. We're now at the 78.60% are which has a strong resistance level. Is this valid? Entry: 66.00 SL: 67.00 TP1: 64.00 TP2: 63.00
Pressure from the bulls seems to have slowed down. Fibonacci is on the previous support level now turned resistance. Is this valid? Entry - 1.3440 SL - 1.3490 TP1 - 1.3340 TP2 - 1.3290
Bullish trend looks weak. Having trouble breaking the 7800 price and looks like it's bulls are giving up. Is the Fibonacci level valid? Entry: 7700 SL: 7850 TP 1: 7400 TP 2: 7250
Open 1.17000 SL - 1.1760 TP 1 - 1.1580 TP 2 - 1.1520
We're back in what has been a pretty predictable range since mid-April. We're now back at a support level that has proven rather strong. Even though Sunday's candle can be scary and this may look like a downtrend, there's been multiple attempts to reject the downtrend. Fundamentally, the CAD has been weak due to negative reports but one positive note is Canada...
Since XBT doesn't seem to rely much on fundamentals, I assume strong buy and sell zones dictate the price action. There's still some ways to the strong buy zone around 6500. For now it looks, we've broken through lower levels which signals trend continuation. This tells me I can keep shorting rallies. I expect small rallies to either 7400, 7600 or even...
Based on the past 3 days only, bulls have pushed price to resistance and any sign of reversal could signal a continuation of the bearish trend. Current resistance area has proven to be unstable in the past so I may not take such trade. Beyond a bearish reversal, there would need to be multiple confirmations to see this go down again. I'm thinking we might see...
The pair has been relatively bullish until this year where can see it's been having trouble pushing through major resistance @ 1.4260. Even though last week was pretty bullish for the pair, it looks like it might be starting to lose steam and even rejection from the last day to break resistance. This would be a counter-trend trade which is usually riskier....
We've reached a very strong resistance area. Based on last month, buyers have been unable to push through this level. We are still in a downtrend although I believe the trend might be slowing down based on the failed attempt to break support around 0.7658. If we look further left, we can see the resistance area held significantly in 2017 and even 2016.
This is an interesting pair because of the price action in the past year. We know EURJPY has been in a bullish trend and that trend seems to have been consolidating forever until recently where we saw a downtrend and what seems to be a quick recovery. We're now at a critical support level and even though we broke through that level around the beginning of the...