A beautiful reverse pattern in the EURUSD invites to a short trade. What are the signs for a short? perfect evening star formation CCI turns again below 100 overdue correction changing monetary policy How could a trade look like? There are several possibilities. Short-term trade: Entry immediately, SL at 1.1979 and TP at 1.1718 Medium to long-term...
This entire thread will be for STRUCTURE! In the "idea updates" column I will be posting all types of corrective and impulsive structures! When it comes to trading the waves, the 12345ABC we all love to draw when we first learned about the theory will be useless (most of the time) What we should focus on is if we're in correction, and if so how the heck can...
Understanding that market moves in an impulse or corrective nature, we can now further categorise market moves into 3 scenarios. Here we will illustrate the 1st scenario - an impulse move, followed by a corrective move. Practical Exercise 1) Find an example of such scenario in the market. It can be any currency pair, any timeframe. 2) Record down what's the...
Market moves can generally be categorised as either an IMPULSE move or a CORRECTIVE move. A fast and strong move is described as an IMPULSE move. A slow and weak move is described as a CORRECTIVE move. Practical Exercise 1) Pick any currency pair, any timeframe, and identify the IMPULSE and CORRECTIVE moves on the chart. 2) Draw a line on the IMPULSE move;...
Hi everyone. I just wanted to share little bit of my knowledge and learning in the forex market with you all so you can benefit from it too. I started learning trading 3 year ago. Fundamentals and News trading were what I started with. As a news trader you need to watch the market news on fundamentals (such as central bank decision makings on bank interest rates)...