NOTE: This trade was published last week exclusively and privately to my followers
As you guys requested, i am explaining the rational behind my short audjpy trade,
On the left hand side overall view, on the weekly chart, the price was testing the main long term potential resistance area around 86.50. At that area i was monitoring the price for possible...
Support and resistance acts as a barrier from preventing the price of an asset from getting pushed in a certain direction. It is one of the more difficult concepts within Technical Analysis, there are various ways to identify these price levels, and even after identified, there are plenty of ways of integrating and trading with them.
Today I'm going to simplify...
Where do peaks and valleys form in retracements?
Peaks and Valleys or Tops and Bottoms are technically consistent. They adhere to the rules of support and resistance.
• All failures on the way up always fail at previous support lost (at previous peak)
• All valleys generally form from the support just above a previous valley or a significant support from the...
I've spent many years learning what I am sharing with you. I've read most of the books out there on various styles of trading and nothing comes close to explaining how markets move the way progression trading does. People have a tendency to argue about things they don't have a firm grasp on. That's OK, I was that person some years ago, and still am to some...
Price action always moves from levels of support gained or lost. Support lost is what many call resistance. When retracing an up move, price uses previous levels of support lost as inflections points. When hitting a support lost level, price will travel back to levels of support gained. I drew levels connecting them from right to left to help identify and...
It's not enough to just know where S/R levels are. We need to understand how they work, and when they will no longer hold. I always look at price legs, and then look at where congestion happens within said leg. Congestion is where S/R levels are. Often times, levels are left untested from a previous leg. Usually at one time, I am aware of levels from the leg...
I heard support and resistance does not work. I decided to show just how wrong that is. This is an over simplification of S&R and I use a number of other indicators to create winning trades. However if all you did was follow the simple instructions you will see S&R certainly does work. In fact if you look at most of my charts I draw boxes where I see S&R. It is...
Greetings Fellow Traders,
Price Action, Support and Resistance are a very critical part of trading and always aid in the removal of emotions from any trading scenario.
I've posted a couple of analyses recently regarding this pair, and one of them turned out to be an opportunity that would have been a loss. It's just as important to know when to exit your trade...
A retest refers to prices reversing direction after a break and returning to the breakout level to see if it will hold. In the case of a break to the upside, for example, after the initial wave of buying has run its course, prices may stall and trigger very short-term profit-taking selling. The tendency is for prices to return to the breakout level, which should...
After a series of lower lows we see the markets making new structure high and then it retraced ( pull backed) and then broker the new structure high. We can see the RSI divergence which means the previous trend is almost dead and loosing out of gas. But hey, Not every RSI divergence work, you need to have additional PA( Price action) to it. A setup like this. I am...
Here we have a nearly completed Wolfe wave series. After coming out of the weekend , the Aussie was off to a strong start, but i'm sure a correction is coming around market open. In the mean time , we want the aussie to continue to gain power till Monday market opens, and from there we will be shorting the Aussie/ New Zealand pair.
Our entry is based on a Wolfe...
This is a clear illustration for how support and resistance change roles when a breakout occurs. This is not a rule that most happen, but it usually does.
Starting point at the latest higher low of the previous bullish trend.(It was a typo on chart, its higher low not higher high)
When a breakout below support materializes, the level usually reverses its role to...
Reversals and what to lookout for: www.invezted.com
in the following text we take the reversals in downtrending markets in action but its basically the same but
vice versa for uptrends.
if you determined a level of interrest where you want to do buisness in ie. in the following cases at a support level
you have to understand first that price dosent care about...
Here is another example of how the high and low for high wave candles are usually trade-able support and resistance levels. I think the chart explains it all.
When spotting a long legged candle(long shadows) its important to keep an eye on the high and low of the candle as potential key levels of resistance and support. In many cases those levels act as barriers...
This is a study of how I like to use the Fibonacci Speed Resistance Fan to help predict future price movement*. While it's not difficult to notice the strong connection between the fan and price movement, turning that into something tradable can be much more of a challenge. Although there are undoubtably many opportunities, this study focuses on two potentially...
A While back I did a post on EURUSD Showing probability of the big move down we’ve seen.
Here is the Link: www.tradingview.com
About 3/4 of the page down I posted another chart with support levels. I received a few questions where I could tell other traders were looking to buy at the first major support levels.
I asked this Question: IF Price does start to...
