USDCAD: broke below 1.39750 key psychological and snapped back above support (fake out). Price managed to close off a strong daily candlestick which engulfed six days of daily price action (notice the size of the daily engulfing). Scaling down to the 4hr time frame we can see price ranging between 1.39500-1.45000. Also notice how price broke above this down...
Daily Time Frame: We can see price creating a double bottom formation at 107.000 key psychological support. Also notice on the second bounce how price created a morning star reversal formation. Scaling down to the 4hr time frame, we can see that this market has been ranging between 107.000-109.000 key psychological. If price comes down one more time to 107.000...
Watch BearFlag and Keep Sell in downside. \ \ThankYou
FX:GBPUSD If Cable gets to 1.25 it might fall and retest 1.19 before a possible upside to 1.30.
Last week the pound has been consolidating against the greenback until the breakout of friday as economical news made the dollar gain which led the breakout.
As today we got rejection on 0.87528 to 0.87401 zone, Clear double bottom and bullish momentum started.
Price needs to get to 1.99 before we can have a clear prediction because a rising wedge calls for a possible fall to 1.88 before a long positions are considered.
(Nov. 26, 2018) This is a good opportunity to practice your price action skills. Before moving the chart forward, answer the following questions: 1. Would you go long, short, or no trade...right now on the chart above? 2. Reasons for trading or not trading? 3. If you would trade, call out your stop loss and take profit. Then scroll the chart forward to see...
(Oct. 5 2017, Daily) This is good practice to recognize price action setups. If you would trade this chart, before you hit the play button on this chart, leave a comment below and let me know: 1. Why would you go long or short? 2. Where would you place your stop loss? 3. Where would you place your take profit? If you wouldn't trade this chart, then simply...
Trade setup for Gold in the 15 min timeframe. Price is expected to fall prior to the long term price dip. Large time frame showing a clear double top chart pattern.
As you see on the chart, the price will make an ascending channel on 1 hour, but on daily perspective its been on the top of structure.
Actually forgot to post this trade. But it was a winner, great trade. Lets see how long this winner streak lasts... this is the point of having a good R:R 2:1 or 3:1 ... even at a 50% winning strategy. You can Still make $$ money..... just do the math 5 winners - 5 losers you are 50% winning percentage, but you are still profitable. Think about it....
FX:USDJPY ; Seller likely waiting to enter trade once buyer breakthrough and cannot sustain price level.
POSSIBILITY: AS MARKET IS STILL BULLISH ON DAILY AND WEEKLY AND EVEN MONTHLY MARKET MUST BREAK AND RESPECT 8580 TO GO LONG TILL T1: 8625 T2: 8665 PROBABILITY: TO FORM A PERFECT AND RESPECTFUL H&S ON H2 H1 WE WILL WAIT FOR IT TO RETEST ON 8580 THEN BREAK AND CLOSE BELOW 8560 THEN WE GO SHORT TILL T1: 8520 T2: 8430 *SO ALL WE HAVE TO DO NOW IS WAIT FOR MARKET TO...