growthbank

growthbank

Not executing this trade. Just posing an idea. The past retracement zone was 50 meaning it has a tendency to wick and hit 61.8 which is where price is at now. I set an entry at the 61.8 which is also a trend line touch and the bottom of the past break of structure low. All confirmations. However the overall bias of the pair is bearish. Setting this trade to see...

growthbank

GBPJPY hasn't showed any indication of slowing up it's bearish momentum. From the 5M timeframe we had a 38.2 retracement which is one of my favorites to trade because it is safe to assume it is going to melt to the -27 without hitting a full 100 retracement. Simply what I did with this trade was draw the trendline and place the entry at the 38.2 which also follows...

growthbank

I just don't think EURUSD has any more steam to sell anymore. But what I just realized while making this journal is that I should have checked for divergence on the RSI. But essentially EURUSD had two places where it could have turned around and it broke the first zone very strongly and I bought at the end of the second zone which is a 78.6 retracement of the...

growthbank

I have been enjoying looking at Gold over the past couple of weeks. Every week I like to start my analysis over and include the details of the previous week. I started looking at Gold with a Top Down analysis and saw that Gold had an overall 50 retracement and completion pattern and then began to change directions and break structure. This break of structure on...

growthbank

I was a little reluctant to trade crypto's since the market has been so out of whack lately but I analyzed Bitcoin and found some confluences that are extremely favorable for taking some trades. First off we have an overall trendline on the higher timeframes, which indicate bullish momentum. Following the trendline, from the last low to the most recent high, the...

growthbank

Took a different approach with setup on USDCHF. The overall fibonacci reached it's target and that was the last high. Since then it has fallen (as expected) and found some resistance at the 38.2 zone. From this price on a lower timeframe the market formed something like a double top which took out most stop losses, but didn't reach a higher fibonnaci zone. I went...

growthbank

I set this trade up earlier today however I was a little bit too tired to send an analysis. Since I set the trade, my original entry was missed by a couple of pips and then the first take profit was reached. My overall bias for Gold is bullish and this was the trade that I believe the market has been setting up for. Since it has formed structure and made a...

growthbank

I'm setting this chart up during Tokyo session since I won't be able to trade London. EURUSD has formed a zone while in it's bullish momentum and I am focused on trading within that zone before the major buy breakout to finish the 61.8 pattern. Currently the market has formed a higher low and broke past a lowertime frame trendline. I am expecting EURUSD to retest...

growthbank

I went about this trade a little bit different than usual. I noticed that Gold had been consolidating within a zone while pushing an overall bullish movement. I drew some trendlines and believe that the market is going to retest that 61.8 retracement before continuing up. I have decided to trade with the trend and since it is still consolidating within that zone...

growthbank

Highertime frame : Overall the market has been bearish however according to my rules the market has been over my daily trendline and broke the previous structure so we have noticed a minor bullish trend. It has formed a zone so we are looking for trades within this zone that it has formed. It is important to note that according to the bullish bias we have, there...

growthbank

Weekly : Market has been trending bullish. From the last structure market hit the -61.8 and retraced 500 pips and has since continued it’s bullish momentum. Weekly Bias is bullish . H4 : On the H4 we identified the supply and demand zone and market has been trending bullish since breaking structure/demand and forming new high’s and lows. The last structure was...

growthbank

Weekly : We are in a bullish weekly channel. The last high hit the overall supply zone and the last low hit the demand zone forming a HH and HL channel. The weekly bias is bullish and the last weekly candle has been a huge bullish engulfing. Daily : We are in a bearish daily channel. The last low was a -61.8 reversal zone which indicating a change in structure...

growthbank Updated 

Monthly : On the monthly timeframe we have a few key things going on. For one we have an overall downtrend that has been respected since 2011. Next we have a downtrend that was respected from 2015, with an underlying uptrend from the same time. Together these trendlines have created a bearish variant Symetrical Triangle structure. Market is currently at the 5th...

growthbank

Monthly & Weekly : On the monthly timeframe we don’t really see any clear trend. There was a trendline that was broken, so it’s safe to say that anything over this trendline is bullish, however we are stopped by the monthly resistance zone that has been respect for the past 4 years. I have noticed that the resistance zone also falls in the same place as the...

growthbank

Monthly : On the monthly timeframe we have a few key things going on. For one we have an overall downtrend that has been respected since 2011. Next we have a downtrend that was respected from 2015, with an underlying uptrend also from the 2015. Together these trendlines have created a bearish variant Symetrical Triangle structure. Market is currently at the 5th...

growthbank

I noticed that with this trade we were trending upwards. The mistake here was that instead of setting the entry at the bottom of the last structure before the break of structure I set it even lower to the structure before that one, on a higher time frame. Missed the trade by about 27 pips, but that goes to show that I should just take trades at the appropriate...

growthbank

We are currently on an uptrend on the larger timeframes. (W) US30 has formed higher highs and higher lows on the daily timeframe. (D) US30 retraced to the 61.8 and made it's way to the first take profit of -27 before retracing into the 50 zone. On the H1 market has broken structure and formed higher highs and lows indicating a buy. The market just recently hit a...

growthbank

I briefly analyzed GBPJPY last night and saw that we were in a consolidation zone but in a downtrend. I attempted to take an entry based on the overall downtrend and assumed that the market was going to retrace to the 78.6 on the overall structure and touch the trendline again before going back down. However I missed many of the details of the current market...