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1 HOUR
Very bullish price action..
4 HOUR
Price forming several HH and HL indicating a bullish pressure pattern.
DAILY
Sideways waving market found resistance now and is slowing down.
OVERALL
Price action is slowing...
Trading news can often be a nightmare especially trying to trade at the time of release as brokers often widen their spreads
and slip orders to the extreme of the spike.
This is a high probability method with Great RRR
As you can see the market spiked up on worse then expected AUD GDP news.
then the market went into a consolidation, and this is key to finding...
Sometimes it is better not to trade. Today for me, was one of those days. I was extremely tired, which happens from time to time as I get up at 1:30 am my time to trade. This can lead to mistakes. Today's trade idea is a good example, although GBPAUD was in a bullish run and I was looking and posted an idea for a pullback trade, there was signs of a reversal. I...
When looking for trades, my purpose is simple:
I look for High probability trades with good RRR (risk reward ratio)
I consider a trade high probability if it has an 80%, or better, historical success rate.
A good RRR (risk reward ratio) is 3-1 or better. meaning that we are risking $1 to make at least $3
Understand that by maintain a 3-1 RRR, even if I lose over...
Technical Analysis:
-4h has reversed twice off of the Monthly resistance we have
-4h candle has also closed below our trend line
-On the 1h you can see how nicely price broke through the trend line, it technically already retested it and dropped so we may not see it happen again.
-Purple zone is in confluence with fib levels and where we had price drop on the...
Technical Analysis:
Price on the 4h has just broken structure to the downside showing the maybe for the next few days or even weeks we could be falling pretty heavily. When you look on the 1h timeframe it looks as if EA has a lot of momentum to the upside, which it does for now but at the same time this could be an ABC corrective wave to the upside before...
Based off of previous movements the AUDCHF has bounced back off of the 50% Fibonacci multiple times however if it continues bearish movement we could potentially see it hit the support of 61.8% Fibonacci.
Technical Analysis:
-Price broke below the MA pretty aggressively
-Now retesting the purple zone which was previous support
-Confluence between the zone and MA
Emotions:
-Saw price reacting to this level a little late, price wicked the kill zone to a T but now I may have missed the entry already. Not rushing into this trade, set my limits just in case price...
Doesn't that look Pretty !
What we have here is the perfect formation of Renko EMAS on the EUR CAD Breakout
Crossing the 200 has confirmed that there MAY be a bit more steam in this BULL
in 4 hour chart it doesn't brake the support level if it move up words there is a option for double top market will move in this space for this week if doesn't brake the resistance ....
Hi traders.
Whenever you are looking at a technical level, always ask yourself the following:
- Am I buying at a potential bargain/wholesale/discount price? (supply or demand zones)
- Why is there more likely to be more supply/demand orders at that area? (new traders entering/traders taking profit)
- What are the underlying fundamental/sentiment drivers that...
Possible H&S ? Can we see a fall down to 1.68919 support line ?
Please tell me if this even counts as H&S, I will be very grateful.
Any objections/suggestions are welcome.
Tonight we did a live stream on YouTube offering an in-depth explanation of correlation trading. You can watch the stream back in its entirety here www.youtube.com
Below will be a written explanation of correlation trading utilizing the AUDJPY vs. NZDJPY as the example:
Correlation trading is an amazing way to add diversification to your trading portfolio and in...
