Read chart/ Personally i would wait for a indecision candle before entering this trade and enter it if sellers are able to make a new low after the indecision candle because that would mean that sellers taking control of price.
The price is above the upper limit of the downtrend channel which has been consolidating during the last 2 and a half years, and now in the most immediate context the price action fits into an uptrend channel, therefore in order to look for entries one could play the break out, the pull back or the Reversal, all of it taking into account the boundaries of the blue channel
BUY GBP/USD BASED ON SYSTEM PRICE ACTION SIGNAL BASED ON SETUP BPB
With a break of a very strong trendline developed since the end of December, I suspect AUDCAD to head higher. After completing a beautiful retracement 1.00340 to 0.99115, I suspect the pair to continue it's bullish momentum.
I'm looking to short GBPJPY at around 160.50, a break of the daily pin due to confluence with a support turned resistance level. We also have some nice downside potential for this trade.
If the price breaks the LSH I would enter long, of course the succes of the trade depend if there are demand above the 35.20 --- lets see how it goes
Predicted That Price Will Drop At 83.643 Lets See..
With the Long-term trend being down and the break of a Short-term up-trendline, I see a Short opportunity together with Price Action Bars, ofcourse. Although We can see that Price currently is in an Range structure and we have to be Cautious for the Tests of Support and Resistance. Further we see previous Divergence of the RSI with the Dominant trend and RSI at...
Now that the price has not been able to hold the 1.1071 area, the market is confirming the inmmediate downtrend, the first taget could be placed around the 1.09800 where is located an important level of resistance, and also close to that area is the Lower Limit of the Trend Channel where one can expect to find some demand, in this order of ideas there are two...
Looking for trading opportunities at Swing Points
Waiting for pullback and a price action pattern in order to enter short looking to ride the overall downtrend
The EURUSD has been recently trying to retrace after a massive 3,500 PIP drop from May of 2014. During this retracement, a nice Flag/Channel was created and then broken to the down side. Most recently the bottom of the channel has been retested and it looks like the EURUSD is ready for the repeat of history in one of the greatest free-falls in a while. The...
BAT PATTERN PAIR: EUR/GBP TIME-FRAME: 1D TRADE: BAT PATTERN Good morning traders. We have a nice Potential Reversal Zone on the EUR/GBP Daily time frame. I don't personal trade the daily, but will need to look for a case for entry on a lower time frame. NOTE: These are potential trade opportunities. Please re-analyse the trade before...
After the Fail Bo of the resistance area + some clues of rejection (Black Arrows) + If the price is unable to found demand around the most immediate Uptrend channel then I will enter short --- Target the 1.366 area
-ABCD IN PLAY -HEADING DOWN TO MAJOR 1.0960 SUPPORT AREA / 0.61% Level -HEADING TO SUPPORT TREND LINE AT THE 1.0960 AREA But be careful with this trade, wait for a confirmation (Price Action) before entering this trade, because the dollar index is showing a different story on what could happen to EUR/USD.
Trading Context for USDMXN: Explanation on the chart