KEY TAKEAWAYS An ascending channel is used in technical analysis to show an uptrend in a security’s price. It is formed from two positive sloping trend lines drawn above and below a price series depicting resistance and support levels, respectively. Channels are used commonly in technical analysis to confirm trends and identify breakouts and reversals....
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...
Hello forex traders! 😁 I get a lot of questions lately about our strategies about using them to scalp in smaller timeframes / markets other than cryptocurrency. All markets go up and down and our job is to identify the turning points in any market with our signals. You can clearly see the buy and sell opportunites on this example of USDJPY 15 minute...
USDJPY Compartimos este backtesting y les recordamos que siempre y para siempre nos fijamos en este tipo de entradas al retroceso de algún nivel roto.
Initial buy order hit stoploss, and price broke through the zone. We have a sell setup pending right now: How I will be entering: - I will wait for one more lower low to form and upon the next lower high in the lower time frames i will enter short - Stoploss will be above the previous high
Currently on the sell side. Remember, target drop is zone 1 for now, there is potential for more drop after some possible retracement up from there so to be watched closely. Will have to have a look again once market hits target drop region.
USDJPY shows what price action areas we expect price to react from on USDJPY Forex Cross pair. USDJPY is dropping strongly reacting to previous weekly supply imbalances in a big picture downtrend. New supply levels have been created around 114, 112.69 and a brand new one around 111.60. This USDJPY cross pair analysis is done on the weekly timeframe for those...
This is the dilemma with technical analysis, here we have a situation where we have technicals supporting a move upward and downwards. This situation is very common with technical analysis, in most cases there are technicals supporting both the bulls and the bears and hence making decisions solely based on technicals is 50/50 in most cases. We have the 50 fib...