Pabsgainz

Pabsgainz

Analysis started on the weekly timeframe, showing rejection off of the key daily level, with a loss in momentum. Impulsive candle then showing on the daily timeframe however, unable to breakthrough previous resistance. RSI is nearing overbought conditions, and previous RSI levels of resistance. Fib retracement, currently rejecting off of the 0.5 key fib level....

Pabsgainz

Just took this trade on my demo and it has just hit TP. Great rise in price up to my TP level, which was placed at the top of the consolidation zone highlighted on the chart. Really proud of this trade, broke the descending trend line and rose to a previous area of resistance.

Pabsgainz

Potential set up on the 4hr chart for a short on the EURUSD. Trend is showing towards the downside with resistance leves being respected and price rejecting off of these levels. Analysis started on the D chart and worked down to the 4hr. RSI divergence seems quite clear here for a short position, stops just above the minor resistance level and TP at the bottom of...

Pabsgainz

Gone long after a double bottom on the daily chart at a support level, previously identified. Daily chart used for the key analysis in this trade. Relatively simple set up, using key levels and the RSI/MACD. Fib retracement used to identify potential movement prior to hitting the resistance level at around 68.900 (perhaps psychological level?). Entered on a demo...

Pabsgainz

Absolutely gutted that i didn't take this trade. My analysis was spot on and i am really proud of that. Trading in channels with 2 tests of the resistance level, price rejected and continued to the downside and further, breaking support. Risk was 30 pips with a gain of 112+ pips. Really basic technical trade but, great result. Confluence was incredible but,...

Pabsgainz

Looking for a long out fo the descending trend channel back up to test the weekly key level. Fib retracement shows a 0.618 and a 0.5 in the area of the key level and also in line with a previous area of consolidation, where price was unable to break for some time. Weekly shows a downtrend so potential risk in terms of counter trend trading as this is not a...

Pabsgainz Updated 

Potential long setup showing on the EUR/GBP pair. I have identified a descending trendline on the daily time frame and previous resistance level is present. The MACD is indicating potential upside movement along with a bullish engulfing candlestick pattern showing too. I will await closure of the 4hr candle with a close above the trend line to show a break before...

Pabsgainz

Getting back into the trading game with an fresh idea. Unsure of my analysis on this. If I see a retest of the resistance level with a move across the moving average, i would be looking to take a short. Historic structure shows that there is probably more potential upside movement and therefore, will be more inclined to take a trade with a move to the upside,...

Pabsgainz

Quick analysis after a pretty bad day in the markets. GBP/AUD seems to be continuing a downtrend move. Both 4H and daily charts are respecting the descending resistance line. As you can see we previously had an uptrend within the identified channel, this has broken off to the downside further confirming a possible setup for a short. The consolidation zone is where...

Pabsgainz Updated 

Don't often look at this pair so I could be missing some fundamentals, however, seems to be forming a bullish candlestick, awaiting daily closure to see if morning star forms. Respecting the support line we could see this pair move to the upside. Across the moving average and create a new higher high, again respecting the resistance line. Entry around 0.6052 would...

Pabsgainz Updated 

Going short on the 4H USD/JPY chart. Rejected off the resistance line in the last candle closure. Entered around 111.485 looking for a move down to 110.485 where previous resistance and support has been found. Will update the trade as it develops. (Trading on demo, still learning)

Pabsgainz Updated 

NZD/JPY daily time frame currently respecting the support, looking to enter into a buy if we see a daily close around the 75.747 area. Price is also currently respecting monthly support. Awaiting daily closure before entering.

Pabsgainz Updated 

Currently in this trade on my demo. Price is in a downtrend on the daily and 4H timeframe. Entered around 111.389 and looking from price to move down the support. Price is currently rejecting off the resistance line on the 2H, 4H and daily timeframes. Expecting this move to happen in time.

Pabsgainz Updated 

Looking to go long on the EUR/USD on the daily timeframe. Market has been consistently moving down within the channel identified. Looking from price to come down and reject off the support line. I think we will then see price bounce up to meet the resistance that is both identified within this channel, which also corresponds with the consolidation zone...

Pabsgainz Updated 

Large sell off however, trading within trend lines. I believe it will consolidate around 1.13370, then making a move to the top trend line, in line with previous highs of consolidation in previous days. Has found resistance around this level previously this month. Will await re-test of the bottom trend line and confirmation of consolidation around 1.13365-1.13370...

Pabsgainz

Possible reversal of trend on the 30m chart of USD/JPY. Trend lines moving bearish in general and tested the support of the bottom trendline. Previous pattern shows possible head and shoulders pattern, also possibly indicating a trend reversal. Looks to be a possible short on a bullish rally as part of this. Please let me know what you think as I am new to...

Pabsgainz

EUR/JPY formed a wedge on the hourly chart. My first analysis published on TradingView. Lots of consolidation on this pair recently and would be looking to initiate TP around the 124.390 mark. Please give your feedback and help my develop.