OANDA:NAS100USD
Nasdaq has broken it bullish move. The head and shoulder pattern was an indication of trend changing to bearish and the pattern proved to be bearish. Currently awaiting on a retest at key support turned into resistance. A bearish engulfing pattern will be a confirmation to go short on Nasdaq.
A look at OANDA:XAUUSD this week and we find that we are still looking for more down side.
There has been a 120+ point drop into 1872 and the first decent rally back has seen it stop right on the 382 and fall away into the 50-61.8% area from that rally. We are now at the point where we have 2 options.
1. It continues lower from here towards 1820-1830...
First post!
I'm a complete newb to trading & analysis, so please point out anything that looks stupid.
I've compared this pattern to multiple points in time and they nearly always have this oscillating zig-zag pattern before an uptrend. I looked at several points and traced them and I was suprised to find that where the projected lines of support & resistance...
On monthly chart, the price action indicates a change in trend.
Why is it a Change in Trend:
1. Price action making lower Highs (LH) and Lower Lows (LH) on monthly chart created a downward trend channel.
2. Now the price action made a Higher Low (HL) as indicated in above chart that indicates rejection of lower prices and buyers entering market to control...
Hi there,
There is a clear 2618 selling opportunity setting up here on EURJPY on the H1 timeframe. If you are not familiar with this strategy, the 2618 trade is a countertrend strategy. Jason Stapleton introduced me to this specific strategy in his free training. Only take trades that are in your PREDETERMINED plan. If you don't have a plan, please get one before...
