Price Action has almost formed a Double Top at the 61.8% Fibonacci level of the Dominant down swing. RSI is showing divergence ADX and DMI- beginning to slope upwards and almost above 20 Should a proper test of resistance fail with a bearish candle, a short opportunity will be presented. Target on chart.
Following a Double Top, price recently broke and closed below the last swing low. Price has now retraced to test broken support and the 50% Fibonacci level, with bearish candles appearing. ADX is holding steady above 20, and the RSI is not oversold. A decent short opportunity has presented itself, with decent RR on offer (1.8R on first target, 3R on 2nd target).
On higher timeframes (weekly/daily) bearishness has begun to creep in with two bearish days to close out the last week A new trend has formed on the hourly Looking for bearish continuation, there is previous support which aligns with the 38.2% Fibonacci level If price retraces (and it looks like it is), then the rectangle highlights the zone of interest to watch ...
Price has broken out of a multi-month range. After falling for several days, price has retraced and is now retesting a zone of former support. If classic technical analysis holds true, support should now turn to resistance and price should be hold and then fall from this area. However, the ADX is looking a little weak and is slopin downwards, so any bearishness ...
This pair has been ranging for weeks now, but recent price action has created a triangle formation with price grinding along resistance. I expect a bullish breakout, targeting fib extensions 127% and 168.1%. Supporting criteria: 10, 20 and 50EMAs sloping upwards ADX sloping upwards and above 20 RSI barely overbought
Price has twice tested resistance, but has not fallen far. With a 3rd test of resistance, I am anticipating a bullish breakout to the upside. The ADX is skyhigh showing great strength in this pair, and I would not be surprised to see price reach 0.91 and beyond. The RSI is also not yet overbought, although close.
Price has stalled just above the 38.2% Fib level of the recent upswing, and has posted a bullish daily candle. This candle is a bullish inside bar, and I will be trading this in a classic fashion: buy the break of the mother bar. I would look for a retest of the recent highs firstly, with the 127% Fib extension also of interest should price breakout higher.
Price has tested ATH area. This is an area of resistance, and I fuly expect a reaction at these prices. Due to RR, I will favour a move to the downside, but will be cautious with entry in order to not get caught out with a break out. *Weekly chart used for illustration only NOT entries Supporintg criteria: RSI overbought ADX approaching overbought levels
Price is retesting a previous zone of congestion and support. With a test of the 50EMA, this is the last opportunity for the bears to remain in control. I will be watching intraday for a reversal in the highlighted area. Supporting criteria: RSI Overbought This is not the strongest setup, but in the markets, anything is possible!