price is retesting the trendline after breakout
falling wedge is formed now
Important news - (ppi cpi uk and us permits)
Price is in HIGH TIMEFRAME DEMAND ZONE
and on weekly bouncing from 200 EMA
Target no.1 should be 1.35
target no.2 =(1.36)(200 EMA 4H)
Trade is against Current Trend
Please take trades based upon your own analysis!!
This is just an idea i have...
The way weekly candle is bouncing from 61.8 level
I think this wave is just a correction to more downside
I will take shorts if HIDDEN BEARISH DIVERGENCE FORMS
On the Other side break of resistance zones around
R1 - 49000
R2 - 52000
Will look for LONGS.
The 200-day simple moving average (SMA) is considered a key indicator by traders and market analysts for determining overall long-term market trends. The indicator appears as a line on a chart and meanders higher and lower along with the longer-term price moves in the stock, commodity, or whatever instrument that is being charted. The 200-day SMA seems, at times,...
An ascending triangle is a chart pattern used in technical analysis. It is created by price moves that allow for a horizontal line to be drawn along the swing highs, and a rising trendline to be drawn along the swing lows. The two lines form a triangle. Traders often watch for breakouts from triangle patterns. The breakout can occur to the upside or downside....
A bullish engulfing pattern is a candlestick pattern that forms when a small Red candlestick is followed the next day by a large Green candlestick, the body of which completely overlaps or engulfs the body of the previous day’s candlestick.
Bullish engulfing patterns are more likely to signal reversals when they are preceded by four or more black...
Hammers have a small real body and a long lower shadow.
Hammers occur after a price decline.
The hammer candlestick shows sellers came into the market during the period but by the close the selling had been absorbed and buyers had pushed the price back to near the open.
The close can be above or below the open, although the close should be near the open in...
The three inside up pattern is a bullish reversal pattern composed of a large down candle, a smaller up candle contained within the
prior candle, and then another up candle that closes above the close of the second candle.
These patterns are short-term in nature, and may not always result in a significant or even minor trend change.
Consider using these...