Charles-OW

Charles-OW

By the looks of it, this pair isn't stopping its bullish momentum anytime soon. From what I can see, after breaking through the resistance area 115.500, price is currently in the process of making what looks like a bullish pennant. There's a possibility that price breaks the pennant to the upside then suddenly fall to retest the previous resistance area.

Charles-OW

On the 4H timeframe, there seems to be a falling wedge pattern. If this pattern holds, I believe the bearish momentum will continue until price reaches its last major support area of 0.70000.

Charles-OW

Possible break and retest of the triangle pattern on the 4H timeframe. At first, I thought price would break the triangle to the upside since it was in a bullish momentum. But it looks like CAD is gaining strength again.

Charles-OW

From what I can see, price failed to break the resistance area of 0.66700. With that, it also broke through the upwards trend line. For some time, it was consolidating between the resistance area and the support area of 0.66200. Recently, the support was broken, which tells me that that area isn't as strong anymore. Meaning, if price gives a clean break of the...

Charles-OW

By the looks of it, price might be getting ready for a trend reversal. At the moment, price is retesting the support area of 1.55800. If the support holds and price breaks the resistance area of 1.57300, we could see price keep pushing higher until it reaches its last major high.

Charles-OW

On the 4H timeframe, I can see price has broken through the resistance area of 0.71800 with a strong bullish engulfing candle. Now I’m expecting a rested of the previously broken resistance before price continues it bullish momentum.

Charles-OW

From what I can see, price is climbing up slowly to the resistance area of 131.500. It seems to be breaking then retesting the resistance level it previously broke through.

Charles-OW Updated 

On the daily timeframe, I saw this pair has been in a long-term bearish momentum. When I went down onto the 4H timeframe, it appeared to be making a double top pattern. I believe this pair will be bearish until it reaches the support area of 85.000.

Charles-OW

Back on the 23rd of this month, I posted an idea about this precious metal being bullish from a possible cup & handle pattern. After almost a week, price has broken through the resistance area. Adding to my bullish bias. Now I’m expecting a retest of the broken resistance before the bullish momentum continues.

Charles-OW Updated 

After price failed to break the resistance area of 51900, it became bearish. At first I thought it would create a head & shoulder pattern, but price broke through the support area before the right shoulder was made.

Charles-OW

Possible head & shoulder pattern on the 1H timeframe. Something to keep an eye on when the market opens.

Charles-OW

By the looks of it, price is reacting negatively from the resistance area of 0.66700. It looks to have made an ascending triangle but broke through to the downside. Now I’m expecting a retest of the triangle before a continuation to the downside.

Charles-OW

Since the start of December, price has been consolidating between the resistance area of 0.92700 and the support area of 0.91600. I believe when price reaches my descending trend line, it will finally break the consolidation zone.

Charles-OW

By the looks of it, price is in the process of creating a rising wedge pattern on the 4H timeframe. This usually happens when price has a strong bearish sentiment on the higher timeframes.

Charles-OW

When price reached the support area of 149.000, it became very bullish. So much so, it created a bullish candlestick pattern called, ‘the three white/green soldiers’. With the help of the bullish momentum, price broke through my trend line. Now I’m expecting a retest of the trend line before the bullish momentum continues.

Charles-OW

From what I can see, price has made an ascending triangle on the 1H timeframe. Unfortunately, it failed to break the triangle to the upside, even though it’s been bullish since near the start of the month. With price breaking through to the downside, I’m expecting a retest of the triangle before price continues its bearish momentum.

Charles-OW

By the looks of it, price isn’t going through with the head & shoulder pattern on the daily timeframe anymore. From what I can see, price is in the process of making a cup & handle pattern on the 4H timeframe. For the pattern to be valid, I need price to give a clean break of the resistance level.

Charles-OW

Possible break and retest on the 1H timeframe. You can see the pattern better on the 4H timeframe.