Maybe will forming bouble top and Sell untill trendlines. Anyway is overbought.
The Dragon pattern is similar to the ‘W’ pattern or the ‘Double Bottom’ pattern with a few different trading rules and targets. Inverse Dragon patterns are similar to ‘M’ pattern. Dragon patterns usually form at market bottoms. Dragon patterns work in all timeframes and in all market instruments. Like most ‘Double Bottom’ patterns, Dragon patterns present...
Seeing if this plays out as expected? thepatternsite.com
Screenshots will be better than words: I only trade tops & bottoms (accumulation & distribution, supply & demand), and I select good ones. The "rectangle" type is my favorite. "Continuation flag" they said. I always go opposite. Use other filters, the price action pattern is just here to pull the trigger. Use stop losses.
We often take a double bottom to be a sign of a bullish market structure. A double bottom with a breakout ends up looking like a 'W'. However, it's NOT double bottom when the second low is LOWER than the first low. The second leg must be EQUAL or SLIGHTLY GREATER than the first low, for it to be considered a valid 'W'. Why? Well, the second leg of the...
This is one of some analysis that I was shared to my students on the group. Based my experienced, I NEVER BELIEVE analysis using trend line ( diagonal line ) will give me high accuracy !!! And this is the evidence, AUDNZD after price breakout the top diagonal orange line, the trendline trader , I am pretty sure most of them thinking price will continue up and...
This is for educational purposes only. Here's an alternative to the weekly analysis I posted - it could go either way. Feel free to comment
Continuing with another episode of Multi-Timeframe Analysis Series 1, I'd like to break down the DXY. The DXY being weighted as follows: EUR - 57.6% JPY - 13.6 % GBP - 11.9% CAD - 9.1% SEK - 4.2% CHF - 3.6% As you may imagine, there's a lot more interest in using the DXY for a correlation / confluence tool when trading the EURUSD. The EURO equates to over half...
Continuing with another episode of Multi-Timeframe Analysis Series 1, I'd like to break down the DXY. The DXY being weighted as follows: EUR - 57.6% JPY - 13.6 % GBP - 11.9% CAD - 9.1% SEK - 4.2% CHF - 3.6% As you may imagine, there's a lot more interest in using the DXY for a correlation / confluence tool when trading the EURUSD. The EURO equates to over half...
Primeiro vou dizer que essa é uma análise pós fato. Isso significa que quando fazemos uma análise após o movimento acontecer no mercado ficamos com aquela sensação de “nossa como era óbvio, como eu não notei antes”. No entanto, muitas vezes por nossas próprias expectativas de como o mercado vai andar no futuro acabamos não dando a relevância adequada aos sinais...
Good morning, traders. Price continues to press upward in spite of the overhead supply. Because this is happening within sideways movement there isn't much to say today other than the weekend is upon us and we usually see a strong move during that time, so traders should be keeping that in mind regardless of the direction of their trade. The H1 chart shows an...
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- Price is oversold on the Stochastic Oscillator - Price reversed at recent low - Might form a double bottom
- Price neither oversold nor overbought - Recent consolidation above EMA (25, close), price was unable to break on the downside - Price is now at recent highs, could form a double top or break above zone - Price would need to close above zone on the daily or 4-hr chart
Let me know what you guys think and comment below if you would like for me to analyse my ideas in video format ! GOOD LUCK