Forex_Dojo

Forex_Dojo Updated 

Yesterday we took a look at the potential short setup, due to the troubles the bulls faced at the resistance zone. We placed an order which was rejected by the bulls who did not allow the Bears to take control. This in turn gave us an indication of the determination of the bulls after they broke the resistance and continued on the Weekly timeframe uptrend. The...

Forex_Dojo Updated 

Last week I posted about a long setup on the shorter timeframe which resulted in a trail stop being hit with 40Pips gain, this week we have taken a longer term view and came down to a potential reversal bias on the pair. Please note we aim to look for potential setups in the shorter period, we share the psychology behind the decision making process in our trades....

Forex_Dojo

The daily timeframe is showing a battle that the Bulls are interestingly in charge of. The reversal proved a strong price rejection at the support zone at 105.987. The Bulls continued on a neat uptrend, with higher highs and higher lows. The Bears came to the party at the area of interest forming a good resistance zone at the 107.939 price level worthy of being...

Forex_Dojo Updated 

Neat uptrend on the NZDUSD pair daily timeframe . Support on 0.382 fibonacci retracement holding Double top bearish signal rejected at fibo retracement 0.382 holding strong. The ADX indicator is showing poor strength, we will keep monitoring and adapting to the market. Looking back on the daily chart there is a Clear indication of a bullish strength holding....

Forex_Dojo

FX:AUDCAD Bulls seem to be maintaining power and keeping the uptrend momentum going on the daily timeframe. This is my view of this pair and where it may go, I will be using the daily frame to analyse the long term view and the 4 hour timeframe to find potential entry points or change in behavior which may affect the overall Bias. Follow me and keep upto date...

Forex_Dojo Updated 

FX:GBPAUD Short trade @1.8707 - Position based on the 3EMA Crossover strategy. - 10EMA Crosses 25EMA from the top first signal for a short. - 10EMA crosses 50EMA from the top 2nd signal. - Candle closses below the 50EMA trade confirmed. - ADX indicator increasing, confirmation of trend getting stronger Stop loss @ high of candle prior confirmation candle...

Forex_Dojo Updated 

US oil recently hit its lowest price since 2002, mainly due to the drastic decline in demand as more countries went into lockdown. What made it worse was the feud between Russia & Saudi which drove price even lower than they both expected. Global demand was estimated to have dropped by nearly 30mill barrels per day, whilst some experts estimated a higher drop...

Forex_Dojo

The huge demand in USD currency caused by the virus, has given it a lot of strength against majority of the currencies. We all know how the USD is the currency of choice in global trade. As more and more countries scramble to mitigate the spread , they pump alot of money into supplies. Another factor that contributes is how majority of traders opt to for the USD...