As you can see, we lost our ucad buy even though we traded it according to the trend! A higher low was expected and it moved up 50 pips giving a buy signal on the way up and then totally moved down! Very Upsetting! U can see the trend structure on the chart and u can see what was expected and what really happened. I believe that this is something we can learn from!
Info On The Chart! Kind of hard to see it but price did reject weekly support ... So im holding a long!
So again, We have a falling wedge on USD/CAD and we are looking for the breakout of the pattern to the upside. WE ARE GETTING IT NOW! Do not forget about the retest after the breakout! Please hit the like button as my ideas will not be posted as often in the near future!
This is what we were waiting for! Sell!
On Aud/Usd we know a retracement is due and we have the reversal pattern setting up on hour 1! Trade the breakout of this reversal pattern by using your PENDING SELL ORDERS!!!! Trade this reversal down to the .618 Fib Retracement Level!!!!! DO NOT ENTER SELL NOW!!! This is not the correct way to trade!
Although price broke to the upside of that wedge pattern... we can predict where these retracements will happen if we use Fib Retracement levels. If you look at the line chart of this trend, you can see that price is respecting the Fib retracement levels as the last pullback bounced off of one of these levels! This is evidence that Fib Retracements will work...
In My Opinion, It is still not time to buy the inverse Head and Shoulders pattern as it seems like price needs to push down just a little bit more first. So in my opinion , We Wait before we buy or sell.... then we buy according to the rules of the pattern. So For Now.... I believe everyone should wait! We could see a few more days of selling before we have...
As you can see from simple candlestick analysis on the daily chart , as price moved up to the trend line you can see that buyers have nearly lost all of their steam! So We have a Very Nice Opportunity to go short for 3 to 5 Days! Patterns like this are always more rewarding when we spot the on the daily chart. On the 4 Hour Chart price has formed a small double...
The U.S. Dollar Index is creating a higher low in the downtrend as you can see. I was looking at this in the daily chart as well. For more information please do a Google Search for "How To Trade Using the Dollar Index"
Eur/Usd is still in a bullflag pattern and waiting for the breakout. Past Knowledge and Past Experience tells us that this pattern usually breaks out to the upside. This is why they call it a bull flag! This does not mean to enter buy now! It means that u need to enter a buy on the breakout of the flag!
As you can see from the chart , AUD is at its lowest point in 10 years. Price actually came down to the flash crash area. I can not see price moving any lower. On the fundamental side , Bloomberg reports that the economy will do much better after Aussie residents received their income tax returns recently and many other factors you can read by doing a simple...
Cad/Chf has gave the sell signal on hour 4 and I did some analysis on the daily chart! Cad/Chf is slow, but one of my favorite pairs to trade as it usually gets to where its going quite nicely!!! Enjoy!!! Remember that our Aud/Cad buy is still active and Aud has moved bullish this hour! Cheers from the USA!!!!!
We will be long on Aud/Cad for at least 7 more days. See Chart For Details.
For a closer look u can see that price failed to go lower and moved up. Get ready for the breakout soon and add your buy limit orders on the breakout and do not enter buy now! We have to trade this correctly!
This is clear. This is a bullflag pattern and price seems to be on its way up to break the pattern now. Place your longs on the breakout of the bullflag pattern
Again , the way I see this is a uptrend because of the .... The trend moved down , formed a double bottom (Trend Reversal Pattern) and then formed a High , Low, Higher High , and I believe we are waiting for the lower low. Some Traders will trade the pullbacks (or lower low) but it is safer to leave your buy trades.... but when you leave your buy trades... there...