Thread: Trend Line Trading

GBP/CHF kissing the 30M trend-line.Will it bounce back or brake ?

Originally Posted by ashok.kumara

GBP/CHF kissing the 30M trend-line.Will it bounce back or brake ?

prize did bounce back from 30M trend-line

+15pips earned !

USD/CHF close to the 30M trend-line.Will it bounce back or brake ?

EUR/NZD Charts ----->

Bears still running the show

Keeping a sharp eye on the upper descending channel line on the daily chart... Price must stay below it to keep the bearish bias intact.

1.6605 is the minimum down side target to create equality among waves 1 and 5.... Equality should be expected given the clearly extended 3rd wave...

EUR/NZD has put in a significant retracement and now resides just under channel resistance on the daily chart... This now looks like a high probability, low risk short trade for bears ---->

Originally Posted by ashok.kumara

NZD/CHF bouncing from 7/27,9/10 downtrend?
Will it be able to pass 8/15,8/31 32.8 Fib support at 0.73252?


Attachment 66820

Prize did pass 32.8 FIB level.

I have limited out this trade with +79.3 pips

Prize could go further!

Before

NZD/CHF 1D


After
NZD/CHF 1D

AUD/CAD bouncing from 8/18,9/16 trend line!

2H chart



FIB levels to watch

Originally Posted by ashok.kumara

AUD/CAD bouncing from 8/18,9/16 trend line!

2H chart



FIB levels to watch

Prize did pass the 0.68FIB. I have limited out this trade with +40.2 pips

2H chart



FIB levels

EUR/USD bouncing from 9/9 , 9 /17 2H trend line!

2H chart



Round number resistance at 1.3200!

Originally Posted by ashok.kumara

EUR/USD bouncing from 9/9 , 9 /17 2H trend line!

2H chart



Round number resistance at 1.3200!

Prize turned back after reaching 1.3158.Sharp drop may due to poor economic data.
I have closed my position with +8.6 pips.

Before

2H chart



After

2H chart

EUR/NZD kissing the 9/12 , 9/17 2H trend line!

Will it brake or bounce ?

2H chart

USD/CAD is near 9/03 , 9/17 4H trend line.

I will look for selling If it go bellow 1.0300.

USD/CAD 4H chart

A few months back EUR/CAD left a pretty solid looking hammer in place at multi-year support on the monthly chart after a long drop signalling a probable up side reversal.. Since then the market has rallied in what looks like an impulse pattern.. A closer look at the daily chart reveals that price is indeed repsecting a medium term up trend line projected off the recent yearly lows.. It looks like bulls are building a base here before pushing higher... Every time the market ends up in this long term support zone we usually see a big move higher in the medium term.. I'll be on that again... The market doesnt look like it wants to go any lower.. I'll be keeping an eye on the up trend line on the daily chart.. Price action needs to stay above there to keep the bullish case alive..

CAD/CHF bouncing from 9/1,9/21 4H trend line

CAD/CHF 4H chart



Potential resistance levels

FIB levels



Round number resistance at 0.98

The FOMC rate announcement could have price move both up and down or down and up in a very short time so be careful!