While I do expect a short rally from this 1.4225 point, I don't expect it to last long. Likely, price will eventually fall below this support and create resistance for SELLERS to come in and continue their journey downward. Right now I am on the sidelines waiting for price to break below this 1.4225 and I will likely be looking for either a retrace to that...
Price for USDCHF has recently broken out of the 10-Month wedge pattern it was in and made a steady increase afterwards. Price then retraced back to key structure levels at 0.979. Price is expected to break the 1.007 and very possibly the 1.02 and even eventually reach a measured goal of 1.173. The reason I say this is because of the height of the wedge pattern....
Price was largely ranged for the GBPUSD-1.09% for the better part of 2015. Then when price broke the ascending channel it was in, price took a huge drop shortly after retracing back up to the bottom of the channel. Price then broke through the 1.4565 handle (Support) low of 2015 and exposed the 1.4225 low of 2010. Price is now just a few pips away from breaking...
I'm looking at two opportunities her eon the AUDCAD hourly chart 1) A Trend Continuation opportunity and 2) A bullish Cypher Pattern. Now of course you can combine the two, but when working with newer traders my advice is to pick and master a single strategy first, then add or start to combine later in your trading career. If you're new to following me this was a...
GARTLEY PATTERN PAIR: GBP/JPY TIME-FRAME: 1HR TRADE: BEARISH GARTLEY PATTERN IF = Price Action reaches D-Point of Completed Pattern THEN = Sell into TP1 and TP1 of the Completed Pattern NOTE: These are potential trade opportunities. Please re-analyse the trade before executing. Star Prosper Philip Stewart FACEBOOK: facebook.com ...
Expecting one more leg down, testing one of the two bear trend channel lines.
Counter Trend, but Strong Bull Bar on 240 Chart. Looking to Tighten stop as soon as possible. Not a lot of head room for profit.
It'll Go up, Then it Might Go Down. If it Reverses down to breakout, then Could be a Great Short. Market Inertia Would dictate that a Channel Up Will Continue For Longer.
We have one possible short position on the BITSTAMP:BTCUSD 1. If price touches the red area, check if there is divergence on either MACD or stoch . If step 1 is fulfilled , continue. 2. If step is 1 fulfilled, we want to see either a double- bottom / top or w/m pattern forming on 4H or 1H . Will demonstrate those patterns when the time comes. If...
The basic premise of Major Trend Reversals, From Al Brooks Video Series. I will be trading this way for a while.
Look at the reliability of bull signal bars on the 30 minute chart. Context must be correct to buy close of these bars... I won't buy a bull signal bar if market moves into tight consolidation or at top of range/channel (or bottom of range/channel if in bear market). Look for strong closes (no wick, close at top of bar), and you want close to close above...
Potential Major Trend Reversal. 1. Bull Trend 2. Test of Moving Averages (20 & 60) 3. Lower High formed 4. Decent Selling Pressure (Consecutive Bear Bars, seen visually, compared to previous Bull Bars) 5. Fairly 50/50 if it will break up or down, but I take the trade because my profit target is potentially 2 x's my initial risk, 1x.