ForexCollege

ForexCollege Updated 

Alright folks, let's vibe with the market rhythm. Sure, we've noticed a bit of a chill in the bearish vibes lately, but hey, don't go diving in headfirst just yet. The price is still cruising below that downtrend speedline, so we gotta keep our cool. Time to channel our inner candlestick whisperer and ride those lines like a pro. If we start sensing some bullish...

ForexCollege

Tentative Head and Shoulder pattern on the daily. Triangle pattern with Head and Right Shoulder levels. Consider all possible move the price can take, and trade the setup with the highest probability. My bias at this time still bullish. Will use lower timeframes to track momentum, and pick entry and exit points. The content on this analysis is subject to change...

ForexCollege Updated 

The price retested the neckline of a head and shoulder pattern with a bearish reversal candlestick. As long as the price remains in the down channel created by the Support and Resistance Speedlines I anticipate the price to remain bearish. I have two lower trade management areas indicate on the chart. I will use lower timeframes to time entries and get a better...

ForexCollege

Get ready to groove with this trading insight! Picture this: the market's in the midst of a tantalizing dance, swaying within the rhythm of a tentative reversal pattern. But hey, as a savvy trader, I'm not just here for the main beat—I'm vibing with all the potential moves this price could make. Now, if support decides to take a little breather and breaks, I'm...

ForexCollege

The SA40 index shows a similar pattern to the USDZAR currency pair. This pattern is called a Symmetrical triangle, which usually means there's uncertainty. With national elections scheduled for 29 May 24', it seems traders and investors are being cautious. They're waiting to see how the elections might affect South Africa's economy. I'll provide more updates as we...

ForexCollege Updated 

Alright, picture this: the price is grooving within what I like to call the "lower price hesitation zone" (yeah, it's got a bit of a funky ring to it, doesn't it?). Check out those uptrend lines racing from a definite low point. It's like watching dancers on a hot streak, moving to the rhythm of the market. Now, here's where it gets spicy: I'm tuning into the...

ForexCollege Updated 

Hey, fellow trader! So, dig this funky chart vibe we got going on here. You see that tentative head and shoulder pattern starting to wiggle its way into the mix? Could it be hinting at a bearish drop? Who knows, man, but we're here to ride the waves regardless! Now, as traders, we're all about keeping our cool and considering every possible move the price might...

ForexCollege Updated 

On the daily we have a triangle pattern after a double bottom. Currently expecting a bullish breakout, will have to monitor candlestick body at the close of the session to see if we have strong bullish momentum. False breakouts are a reality and as traders we have to trade accordingly. Now, you may be wondering… why go through all the trouble of figuring out if...

ForexCollege Updated 

Price action Support and Resistance Speedlines are highly effective when draw correctly. You can see from the chart how the price keep obeying the speedline, and how candlestick reversal bouncing from a line gives a reliable signal, and how candlestick momentum increase before line break give a signal that the line breakout might happen. Add to the setup Fibonacci...

ForexCollege Updated 

Natgas, with my speedlines contracting I anticipate a slowdown in bearish momentum. Will wait for more price sessions and price to intersect either resistance or support lines before taking any trading decision.

ForexCollege

In trade analysis using pure price action, when a potential head and shoulders pattern doesn't confirm, watch out for the alternative: the triangle between the head and right shoulder. Always weigh all potential price movements and trade the setup with the best odds. Note: This analysis is on a very long timeframe—the weekly chart.

ForexCollege Updated 

Do your year ahead analysis to get an idea of possible turning points. We make use of a weekly timeframe to analyze the year ahead, breaking 2024 up in to 4 quarters. From here we move down to lower timeframe for microscopic analysis and trade entries on lower timeframe. Higher timeframe trendline, speedlines, Fibonacci or Pivot Points remain longer in play. To...

ForexCollege Updated 

Interesting pattern here!!, can the world push for a once a year environmental lockdown of a couple of weeks? If they get their way we might just see this pattern plays out. Do your year ahead analysis to get an idea of possible turning points. We make use of a weekly timeframe to analyze the year ahead, breaking 2024 up in to 4 quarters. From here we move down...

ForexCollege Updated 

I use pure price action to plot my speedlines and NOT the Fibonacci fan or the more common speed resistance line approach in investing. Get web link from profile to learn more about price action speedlines. Bullish reversal pattern right below the weekly speedline, might be a good indication that the sell-off is done and buyers are getting back in. Use lower...

ForexCollege Updated 

The price recently broke upward from a downtrending channel. However, considering the strong bearish momentum on a higher timeframe, my current bias leans towards a bearish outlook. To assess the strength of the channel breakout, I've applied Fibonacci retracement, with particular attention on the 0.618 retracement level. Any potential shift in my bias will be...

ForexCollege Updated 

Price currently in a possible accumulation phase. It seems like we have a common low on this instrument. Do the Bulls have the strength to break the accumulation phase and beat the down sloping trendline? we will look at lower timeframes to take a microscopic view and read momentum using pure price action. Change in polarity is when support change to resistance...

ForexCollege Updated 

Here we are looking at the Pivot Point and the price is trading right at this important level. There are up coming elections in South Africa later this year and this will have a major impact on the value of this currency pair. Do your year ahead analysis to get an idea of possible turning points. We make use of a weekly timeframe to analyze the year ahead,...

ForexCollege Updated 

The price is currently trading sideways within an uptrend. We can see a bullish momentum slowdown around the resistance area. This can mean two things, the bulls are taking a breather before pushing higher, or bullish momentum is drying up fast and we might see a break of the uptrend line. I will look at lower timeframe to get a microscopic view, but will remain...