A key part of technical analysis is to identify the different phases and patterns in the market. So, what can we see? - We can see that we're within a major ascending parallel channel and price has been respecting it. When price approaches either extremes of the channel, it rejects aggressively. - There are 2 key phases at play here. The blue phase is the...
For almost a year DXY has been in an uptrend but we may soon be at the end. Last Friday, DXY closed with a bearish candle at the double top region, indicating that there are al lot of sellers at that level. If we continue to show bearish pressure, we can soon end that uptrend and take advantage of USD weakness across the board. Here's a brief breakdown on how...
Enter when these confluence factors are present. There is a Trend, Level, and Signal. Trend: Up Confluence Factors at the Support Resistance Level: Close Price 96.31 EMA 10 Close Price 96.24 50% Fibonacci Retracement Price 96.15 Horizontal Support Price 95.99 EMA 20 Close Price 95.31 Signal: Rejection Candlestick
What is Dejavu? Dejavu is a term used to describe a feeling that one has lived through the present situation before. How does this tie in with the markets? Technical analysis is based on patterns repeating itself over and over again. Technical analysts believe past trading activity and price action can be valuable indicators to future price movement. How...
AUDUSD is in a really nice channel where price is respecting both the limits of the channel. We saw a nice bounce off the channel support and looks like we'll be heading towards the channel resistance very soon. The basic rules of trading within a channel are the following: - Buy on bounce off channel support - Sell on rejection off channel resistance - Stoploss...
AUDUSD is in a really nice channel where price is respecting both the limits of the channel. We saw a nice bounce off the channel support and looks like we'll be heading towards the channel resistance very soon. The basic rules of trading within a channel are the following: - Buy on bounce off channel support - Sell on rejection off channel resistance - Stoploss...
At the end of a trend, there is a typically a reversal pattern indicating to us that the trend is about to reverse. There are 3 main patterns that you NEED to know. 1. Double Top/Double Bottom A double top/bottom pattern is a chart pattern that consists of 2 consecutive peaks of similar height indicating that there is not enough buying/selling pressure to...
At the end of a trend, there is a typically a reversal pattern indicating to us that the trend is about to reverse. There are 3 main patterns that you NEED to know. 1. Double Top/Double Bottom A double top/bottom pattern is a chart pattern that consists of 2 consecutive peaks of similar height indicating that there is not enough buying/selling pressure to...
One of the most powerful tools in your trading arsenal should be candlestick patterns. Various candlestick patterns can tell us where the market is heading. These patterns can be found on all timeframes, however the Daily candlestick patterns appear to be the most reliable. Once you see these patterns, you can ready yourself for the next move and use other...
One of the most powerful tools in your trading arsenal should be candlestick patterns. Various candlestick patterns can tell us where the market is heading. These patterns can be found on all timeframes, however the Daily candlestick patterns appear to be the most reliable. Once you see these patterns, you can ready yourself for the next move and use other...
Hey Traders, In this post we will aim to clear some of common misconceptions of trading and how we can help you go further in your trading career by giving you all the tools you need to better understand the market and kill the game. ____________________________________________________________ 1. Trading is easy. Trading is relatively easy IF you know the...
Note: This indicator will be published soon In short, this indicator is a tool designed for different purposes: 1) Automatic drawing of trend lines 2) Classification of trend lines based on the reaction of price chart and trading volume 3) Receiving trend lines breakout alerts 4) Analyzing smaller time frames is time consuming and tedious, but this tool makes it...
Note: This indicator will be published soon In short, this indicator is a tool designed for different purposes: 1) Automatic drawing of trend lines 2) Classification of trend lines based on the reaction of price chart and trading volume 3) Receiving trend lines breakout alerts 4) Analyzing smaller time frames is time consuming and tedious, but this tool makes it...
Note: This indicator will be published soon In short, this indicator is a tool designed for different purposes: 1) Automatic drawing of trend lines 2) Classification of trend lines based on the reaction of price chart and trading volume 3) Receiving trend lines breakout alerts 4) Analyzing smaller time frames is time consuming and tedious, but this tool makes it...
Note: This indicator will be published soon In short, this indicator is a tool designed for different purposes: 1) Automatic drawing of trend lines 2) Classification of trend lines based on the reaction of price chart and trading volume 3) Receiving trend lines breakout alerts 4) Analyzing smaller time frames is time consuming and tedious, but this tool makes it...
Note: This indicator will be published soon In short, this indicator is a tool designed for different purposes: 1) Automatic drawing of trend lines 2) Classification of trend lines based on the reaction of price chart and trading volume 3) Receiving trend lines breakout alerts 4) Analyzing smaller time frames is time consuming and tedious, but this tool makes it...
Note: This indicator will be published soon In short, this indicator is a tool designed for different purposes: 1) Automatic drawing of trend lines 2) Classification of trend lines based on the reaction of price chart and trading volume 3) Receiving trend lines breakout alerts 4) Analyzing smaller time frames is time consuming and tedious, but this tool makes it...
Note: This indicator will be published soon In short, this indicator is a tool designed for different purposes: 1) Automatic drawing of trend lines 2) Classification of trend lines based on the reaction of price chart and trading volume 3) Receiving trend lines breakout alerts Trend lines are classified into 6 levels, of which only 3 are enabled by...