Double Bottom pattern forming on GU. Take Fib retracement from previous high on 4hour time frame; it has tested 0.328 fib.
Watching for breakout of resistance on bullish pennant. Trade reactive not predictive.
I see a nice down-trending channel with candles just passing key support, and it hasn't tested it for resistance. The pair has been extremely volatile so the trade is only 1% of my capital. Therefore, I'm not waiting around for a test.
Watch for breakout & will sell others will consider long position
My analysis on CadChf… as of now it has been in a downtrend since Oct 2019, recently it has broken through many levels of struture support & appears to have broken through daily trend support. This isn't a true breakout yet, because it has not finished test for support/resistance on level 0.72250. On Daily timeframe it appears to be very low/oversold on rsi since...
My analysis.. So we can see in the past few weeks this pair has been volatile, bouncing in and out daily trend support/resistance. This makes me a little nervous trading this pair so I am going to be even more cautious. This pair has been in a uptrend since September 2019. Currently, this pair is low on rsi indicator, but not oversold per say even though there...
Double top forming on key resistance. Retracement to the 200 Ema is likely, but a new high has formed on rsi. Let me know your thoughts.
Solid price action trade setup here. I believe the EUR is not finished downtrending in the daily descending channel. Mostly, because of the coronavirus at a high right now . On the 1 hour time frame there is a head & shoulders pattern in formation on key resistance. Also the 100 EMA is coincidentally at support of head & shoulders. This could be the end of...
I see an ascending channel toward some heavy resistance. I expect to profit about 40 pips quick & watching to see if uptrend breaks through heavy resistance. Let me know your thoughts!
I foresee a large downtrend in the CadUsd. I expect to profit 100-150 pips respectively. I found my entry find yours. Thoughts?
My gut says the downtrend will continue due to coronavirus, and is a respectable 150 pips from trendline support. Be patient for pullback/ correction and will find my entry. Be cautious, indicators are pointing to a reversal in trend, but I believe this will be in a couple of weeks at least. Share your thoughts!