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Pin Bar

USDCAD [D] Technical Analysis & Top-Down [BUY] Good Evening People... I am FX_HOLE and this is my first published analysis - I have been trading for around 2 years now. Today, I will be providing a brief Technical Analysis for the USDCAD I will begin with a ' Top-Down ' Analysis ... As you can see from the Weekly Timeframe, I have identified a range that has been in place since mid 2015 Over this period of time, we can see that price has tested the resistance and support on a number of occasions Most recently [ July '21 ] - The support of the range has been tested and following this the market bounced and has been forming higher-highs/lows ever since Bringing us to today and the section of the chart I will look at more closely on the daily timeframe Moving on to the Daily Timeframe... Using the idea from the Weekly Timeframe of the Higher Highs/Lows - It has been possible to identify an Ascending Wedge Pattern Upon marking out the wedge pattern, we can see that price has approached the support of the wedge and rejected a further move below Furthermore, there is additional horizontal support - This providing added confluence to any trade set-up [ @1.2500 ] Finally, upon todays market close, we can see that the Bullish Pin Bar has been formed - Again, providing further confluence to the trade set-up So, personally I have set a Buy-Order @50% FIB retracement of the Pin Bar Additionally, I have marked out initial Profit Targets which are a little adventurous Although, I may be looking to scale in if we reach my initial target @1.260 NEWS/DATA - There are some orange USD Data Releases coming up tomorrow, but hopefully the order will be triggered throughout the Asian session and make a little progress. This will be monitored... Well that's all for today folks - Thanks for tuning in Enjoy!
Long
by fxhole_
EURUSD before FED Today is the day when we expect the Interest Rate decision for the USD. It doesn't matter if there will be any changes, we're still expecting some moves. Because of the news and how risky and unpredictable they are, we suggest looking for an entry only when the news are over! We think that there is a higher probability that the downtrend will continue. If, during the news we see price going up to around 1,1400 in the first minutes and then rejecting those higher levels, then that would be a good sell signal. Quite often, during news you can see how price leaves long wicks in a certain direction to take out the retail traders and it then reverses. That's exactly what we're expecting to see today, and we have to be patient because we don't know in which direction that wick will occur. The only thing that's sure is that there will be a lot of volatility and that our analysis tomorrow will look at the potential opportunities after the news. Good luck!
Short
by ForexTrendline
9
CB looking to reach new highs?* Exceptional earnings * Very strong up trend * High 3-month relative strength of 2.43 in the Finance sector * Pays out quarterly dividends * Breaking out of a ~5 month base Trade Idea: * You can enter now as the price is just breaking out of the base. * Today's price action printed a bullish pin bar which indicates that there's tonnes of demand around the $196.43 area. * Offering a great risk to reward ratio * Given the current market conditions you may want to wait or trade a smaller size Caution: * A daily close below the $193.12 area would put this idea in danger.
NYSE:CBLong
by HaseebKhan_90
SE - short term rebound in the works?SE has plunged 36% from it's peak on 20 Oct and is now back at a mideterm trendline support. I see a bullish divergence building up on it's weekly and with the high volume sell off last week, it is likely that most of the selling is done now. The last 3 candles on the daily is interesting. A doji followed by 2 pinbars, each inching lower towards the trendline support. My guess is that the weak bulls have been exiting the stock on each of these days but new bulls kept coming in to push the close off the lows of the day. I will be looking to long here (preferably as it goes above yesterday's candle high at 252, confirming the momentum) with an initial stop loss about $1 below the trendline support. Despite the 36% "discount" from recent highs, it's valuation is still rich at current levels and it's anybody's guess whether it could surpass the last high at 372 going forward. Hence I will be looking to take scale out at the various fib levels on the way up (between 288 to 320). p/s trade will be scratched if SE breaks below trendline in the near term (though this is looking less likely at the moment). Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Thank you. Do give me a thumbs up if you agree. Feel free to let me know what you think! :)
NYSE:SELong
by Juliac
The end of retracement for DOTUSDT ?considering pump of Bitcoin at 53500 level , expecting bullish market in the coming days DOTUSDT is in a perfect situation to reverse . we are at the bottom of channel with the best reversal strategy based on candlestick pattern called "Pinbar" at supporting levels we can also see divergence in RSI that could help we may have a problem with the 38 resistance zone but the market momentum is our leverage Targets in the chart are based on midline and upperline of channel Hope you have a profitable trades
Long
by FX_Achilles
1