FranRizmy

FranRizmy

In ADX indicator, level 40 has been reached which means it's overbought. The momentum ends and the price will change the direction. There is a small head and shoulders as a confirmation of direction reversal. The price goes down and breaks out the demand area number 1 but it bumps the next demand area (number 2). It executes the buy orders and goes up again and...

FranRizmy

The price goes down too fast, if you use BB Indicator, it'll show the swollen bands which means it will retrace deep. You can use MA20 or EMA20 or EMA12 as the level to enter the trade. In the chart, I highlighted the supply area (it was equilibrium), I foresee that the price will be tired and retrace to the area which are many limit orders waiting for the next...

FranRizmy

At first, I see that CHFJPY respects its trendline, then I added Schiff Pitchfork that provides clearer levels of the price movement. I consider the 0.5 line of Pitchfork as an inner trend line and the 1.0 line of Pitchfork as the main trend line. Now the movement of price seems slow, that I predict the price will move down first to take more orders to rise. In...

FranRizmy

The price has divergence with CMF; it is expected to go down completing the Falling Wedge pattern. At the same time, the price will touch the Demand zone to take orders and be expected to go up until the next supply zone which is not touched yet by the price.

FranRizmy

The price forms Double Top or M-Pattern that it is expected to go down until the next Demand area below. After that, the price will follow its main trend direction; Uptrend on Daily. The price is expected to touch 0.5 line of Pitchfork which confluence with demand area (the grey box) before going up, or, touch the outer line; 1.0 level; of Pitchfork which...

FranRizmy

The price makes a high and a lower high that we can trace a trendline. The price hit the support line two times. So, the price expected to pull back to the trendline and breakout the support. You can set a sell limit on the trendline or set sell stop under the support line. Target: Why I set the target on 1.18080 is because the Demand areas on the left side; grey...

FranRizmy

EURAUD break the EMA 20 and EMA 50 on daily timeframe. Then the price retrace to touch EMA 50 but now the direction has changed. Other confluences are the price touches Line 0.6181 on Fibonacci retracement as well as Demand area on the left. Wait for confirmation: Engulfing Candles or on Timeframe 15M the three white soldiers candlestick appears - *Disclaimer:...

FranRizmy

Three reasons for buying: 1. The price has hit Demand area 2. The price touched EMA20 on Daily TF 3. Divergence on CMF *For education purposes only, make your own analysis.