Still Bullish on the Ringgit ( Stephen Innes APAC head of trading Radio interview with BFM Radio Kuala Lumpur )

Stephen gives us his insights on the equity, bond, currency and commodity markets. He also shares his views on trading strategies especially during this Lunar New Year

 

BFM Radio

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(H2) GBPUSD (LONG)

(H2) GBPUSD (LONG)


– DESCRIPTION –

Ichimoku cloud still showing a strong bullish trend
– Price has reached and consolidated at 38.2 (1.40139) fib level
– 1.40139 level of support is also acting as a very strong support level

– CURRENT STATISTICS –

– Number of Trades: 1
– Status of Trades: 0 – Active / 0 – Wins / 0 – Losses
– Current Net Return: 0%

– TRADE INFO –

– Target 1: 1.41449
– Target 2: 1.42386

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descending wedge

descending wedge

STEEM / Bitcoin POLONIEX:STEEMBTC


Hello!
Please immediately take into account, this is only my own opinion!
At this site, we see a descending wedge , this is a fairly rare figure – a figure of a fracture of the trend.
We see the dying volume of trades during the formation of the figure, this indicates that the number of players who act in the direction of the previous trend is decreasing.
The breakdown of the wedge line of the figure should be accompanied by high volumes of trades, or by a significant increase in them.
We hope – at the breakdown of the resistance level and the subsequent growth.
The possibility of buying at:
1. Breakdown of the resistance level (upper red border)
1 option can only be considered after – the principle of level duality (the former resistance levels become support levels and vice versa), in this case can fly without retest of the support level .

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EURAUD is at a critical point

EURAUD is at a critical point

EURO / AUSTRALIAN DOLLAR FX_IDC:EURAUD


Hello friends!
Looking at the chart, you can see that EURAUD             is making a bull flag after bouncing off the lower parallel of another bull flag (2017 bull flag ), and now after making 3 attempts to break the top side, it is failed and is trending down toward the lower parallel of the most recent bull flag (2018 bull flag ). Recently we have seen a short trap on Tuesday followed by a bull trap on Thursday after failing to break higher. There is an all-time support just above the 2018 bull flag and the pair must break it and hold above that to confirm the bullish move which eventually leads to the touch of the upper parallel of the 2012 bull flag (third bull flag ).
I would like to draw your attention to the “Inverse H&S + Bull Flag measured moves” if price breaks the key resistance level . Until then this pair remains bearish as just failed to move higher after 3 consecutive attempts. We now have four structures
1) 2012 bull Flag
2) Inverse H&S
3) 2017 bull Flag
4) 2018 bull Flag
which all suggest a move higher but as mentioned there is actually a very significant resistance which has to be broken first.
Good luck and have a great trading week,
Ehsan

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