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BluetonaFX - USDCAD Cup & Handle Pattern SHORT IdeaHi Traders! There is a potential cup and handle pattern forming on the 4H USDCAD chart, and there is potential for further moves to the downside depending on whether we get an important support price break. Price Action 📊 The market has had an up wave to start the cup pattern and a down wave to finish the cup pattern. The market has now almost reached our support level at 1.35618, and there is potential here for a market consolidation period, which will be the cup handle. We are looking for a momentum price break and a close below the support line at 1.35618 for further continuation to the downside. Fundamental Analysis 📰 Traders are currently nervous about the US dollar. With the Fed Minutes meeting tomorrow, the market will be looking for hawkish statements from the Fed in response to the very strong economic data recently published.   Support 📉 1.35618: SUPPORT LINE Resistance 📈 1.36022: PREVIOUS DAY'S HIGH Risk ⚠️ No more than 2% of your capital. Reward 💰 At least 4% of your capital. Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Short
by BluetonaFX
Symmetrical Triangle on EUR/GBP @ D1EUR/GBP has entered a symmetrical triangle pattern on its daily chart. It can be used for a trend continuation breakout setup. My potential entry is marked by the cyan line, which is located at 10% of the triangle's base width above the upper border. My take-profit will be at the green line, which is located at 100% of the triangle's base width above the upper border. I will set my stop-loss to the triangle's lower angle (0.86141). I will ignore bearish breakouts from this formation.
Long
by AndriyMoraru
Dr copper potential more downside moveHello traders, lets take a look at copper which testing an important resistance area and see what can possibly happen and what are the consequences of possible bearish move in other markets like us equities. first lets talk technical, price overall bearish Daily move in copper formed a standard #head_and_shoulder pattern in form of consolidation in downtrend move and as we know this chart pattern in the middle of a move showing continuation. As it can be seen price formed clear H&S pattern and now forming possible LH at key resistance area below Daily EMA and at the 4H timeframe 200 EMA. more importantly price failed to close above 3.80$ in the past 3 days. Also we know that copper as one of the most important commodities is very sensitive on economic data, and since central banks are in raising interest rate campaign in order to take control inflation this can be interpreted as lower economic growth and as a result les demand for industrial commodities like copper which can bring prices lower. so now obvious chart pattern and a valid downtrend, price testing important resistance area and failed to break above it and more importantly we have fundamental aspect inline with technical analysis which all together gives good odd to find a trigger to short.
CAPITALCOM:COPPERShort
by mohemati
BluetonaFX - NZDJPY Rising Wedge SHORT IdeaHi Traders! There is a rising wedge pattern on NZDJPY, which signals a possible reversal of the bullish trend we have seen over the past few months. Price Action 📊 There was an aggressive upside price rejection candle followed by a momentum break below the 20 EMA. This shows that there may be new waves of bearish volume entering the market. We are looking for a bearish break and a close below the support trendline. Fundamental Analysis 📰 New Zealand left their interest rates unchanged, and the dovish statement from the RNBZ has left the NZD under some selling pressure. Support 📉 87.094: PREVIOUS DAY'S LOW Resistance 📈 89.251: PEVIOUS DAY'S HIGH Risk ⚠️ No more than 2% of your capital. Reward 💰 At least 4% of your capital. Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Short
by BluetonaFX
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