potential false breakout, price closed above channel but was unable to sustain this and re-entered the channel. i am anticipating price to fall to the support of the channel or moving averages may act as dynamic support so, i am anticiapting 2 enteries, 1st held till moving average (dark blue MA), 2nd held till channel support.
potential double bottom formed
waiting for price to break short term horizontal resistance
MA is also about to cross in the upward direction.
will wait for price to close above resistance before entering the trade.
potential double bottom formed at a resistance
MA no longer acting as dynamic resistance. It appears to be acting as support
waiting for price to close above horizontal resistance before entering the trade
current trend exhibiting LH and LL indicating a down trend.
I believe lasts week's LH to be 1.39317, so in continuation of the trend i am expecting a fall to last weeks LL at least of 1.37134.
possible false break out of channel
market is also over sold (RSI)
waiting for re-entry into channel
waiting for macd to cross towards the upside
waiting for entry confluences i.e bullish candle stick formation
- DESCRIPTION -
- Ichimoku cloud still showing a strong bullish trend
- Price has reached and consolidated at 38.2 (1.40139) fib level
- 1.40139 level of support is also acting as a very strong support level
- CURRENT STATISTICS -
- Number of Trades: 1
- Status of Trades: 0 - Active / 0 - Wins / 0 - Losses
- Current Net Return: 0%
- TRADE INFO -
- Target 1:...