The EUR/USD needs to avoid the $1.0587 pivot to target the First Major Resistance Level (R1) at $1.0642. A move through the Monday high of $1.06199 would signal a bullish session. However, the EUR/USD would need the stats and the ECB chatter to support a breakout session.
In the case of an extended rally, the bulls will likely test the Second Major Resistance...
Hello Traders!
1. We see a 5-wave move down, a clear impulse; then Wave A breaking into 5 parts, and then a clear Wave B breaking into further 3 parts.
2. We see a running triangle variation forming as shown in the chart and then a 5-move impulse down. Image attached.
3. A 5-move wave up can be clearly seen on the chart in the 15-minute timeframe. That...
A falling wedge breakout or retest occurs when the price of an asset breaks out of a descending wedge pattern, or retests the bottom of the wedge after it has already broken out. This type of pattern indicates that the bearish trend is weakening and that a reversal may be imminent. In this case, a long position in USDCHF would be taken to capitalize on the...
USDCAD bulls struggle to defend the two-week-old winning streak ahead of the Canadian GDP data. However, the Loonie pair stays beyond the fortnight-long support line, as well as the key moving averages, to keep buyers hopeful. That said, a horizontal area comprising multiple levels marked since early October 2022, around 1.3700 appears the key upside hurdle for...
price approach at area of value and price action formation of massive engulfing candle and also form head and shoulder pattern once the zone of neckline break price move to next support or trendline
Price giving a deeper retracement for a possible larger profit range back to previous swing high/support. Took a great loss this morning, and now adjusting to the market while managing risk.
Great setup that cannot be passed up. Remember to always set alerts to prevent hawking the market which will lead to impulsive trading or FOMO (fear of missing out). Keep risk to reward high, stop loss spacious, and take profit achievable.
Just a morning setup for you to capitalise. I'd wait it out for a bearish candlestick rejection specifically on the lower time frames for precise entry.
price approach at area of value and strong support and also made inverted head and shoulder pattern and price action formation at right shoulder so we can expect price move up
I don't really uses terminologies like names of candlestick or chart pattern but to tell you about perticular scenario it's required to use such easy terminologies.
!! it's only applicable if the price takes support from 0.6720 not if it breaks support.
1 = if price take support then it's possible that it will go to 0.6783 and it can come back to support but this...
