We were stop hunted from our previous trade. The analysis is still the same. You can check out the previous analysis to get a broader idea of where we are coming from.
The pair is in a parallel channel. We can look for more downward movement.
Channels might seem simple but there are some points that help us to distinguish reliable channels from invalid ones.
This is how I use pitchforks and I hope it is an inspiration for you too. I like trading channels and the pitchfork is a great way to identify them early on and to confirm these channels. It is not always straightforward to find the right points (1-2-3, see below), but I think the pitchfork is quite powerful and for me a handy tool in addition to other indicators...
Hello traders: Looking at soybeans from the higher time frame perspective and its price action structures. We see strong bearish impulse down from mid of 2018, and has been in this larger channel like structure ever since. Price has been consolidating for these few years, and finally breaking to the top in the recent times. What I like about the price from a...
This is an example of descending channel and I show you how to understand it with the macd 4c indicator ! ! We are always looking for DIVERGENCE.
Price action moves in a particular Market Structure. We have three types of Broad Market Structures. 1 - Breakout 2 - Channels 3- Trading Range 1 - Breakout Every Trend starts with a Breakout. Every Trend ends with a Failed Breakout. Breakout is the Strongest type of Trend. 2 - Channels Trend is contained in a Channel. Pullback in channels categorises it in...
Hindalco in range, watch for few days to breakout
Taking a look at the recent price action on USDJPY, we can see how the use of patterns and structure can be used to increase the probability for any potential trade setup. As you can see from the 15 Minute chart, USDJPY was on the rise until it ran out of steam and started to trade into an ascending channel. This ascending channel completed a bearish (selling) 3...
Hi everyone: Here is my multi-time frame analysis and management on EURGBP. I do my analysis from a top down approach, from higher time frame down to the lower time frame for extra confluences and clarity. Thank you
Rule #1: Draw a channel on a 1 or 4 hour chart. Rule #2 Identify If there is a Breakout on 1 hour or 4 hour chart. Rule #3 Wait for a Pull Back on a 15 minute Chart. Rule #4 After Pull Back on 15m, Make Entry. Rule #5 Find a Stop Loss Placement. Rule #6 Ride The Rabbit Trail to 50 pips with a TP Order! Rule #1: Draw a channel on a 1 hour or 4 hour chart. The...
We have a descending chanel. the downtrend is strong. we ride with our best friend, the Trend. This is not a trading advice. It is for educational purposes.
Okay. We are above the monthly resistance and we just bounced off the monthly trendline. Everything screams buy and we hate it when the market shouts. This is not a finacial advice but a market analysis lesson, trading is a risky sport you can lose your capital like this.
Hi, Axis Bank stock chart..3 more parrallel channel found.. I separated all parallel lines.. we should check every parallel channel for break out... IF 1 ST CHANNEL BREAK,, TAKE BUY ENTRY.. TARGET 682 STOP LOSS 295 WAIT FOR ENTRY...
While bitcoin is trading very close to the APEX of previous ascending triangle that I've anticipated, we better to look at another factor that may affect the price movement of bitcoin. One of those factor is the bitcoin dominance. Bitcoin dominance is still trending inside this up trend channel that has held the price since January 2018, a 2 years channel trend...
#BTC (Update) Bitcoin Has been Moving Between 8.4k-10k Range from last 36 Days. (forming Ascending Channel) At the Moment, holding the Channel Middle line (9.6k Support) & EMA50 (9464) Now, there Are two Possible Scenarios..!! - In Bearish Case, If Bulls lost the Support, It Might Retest the 8.8k Area Support. - In Bullish Case, It Might test the Major...