Description on the chart and overall context below
The zone indicated in the middle of the chart is what will determine the direction of gold price for June. If you consider ABC to be wave 123 then the middle zone is the potential wave 4 and wave 5 is on the lower demand zone.
Description in the chart *1) Overall context: Down trend (Lower Lows and Lower Highs- Red lines)
Many different confluences to short to the next monthly FIB zone below for the retest of the current daily/ weekly/ monthly uptrend.
i'm not going to bore you with a long winded description on what i think is going on and give you the complexities why? because my style of trading is made to make the most complex market seem simple by trading only support and resistance using price action for entry and that is my system For those struggling to find a trading opportunity on EU all you need is...
i'm not going to bore you with a long winded description on what i think is going on and give you the complexities why? because my style of trading is made to make the most complex market seem simple by trading only support and resistance using price action for entry and that is my system #2016 New style of trading
Multiple confluences such as; Higher low not being projected, Lower high being projected, the weekly timeframe bearish candle has engulfed the last bullish and almost the previous one before that, weekly price action has bounced and retested off the 618% FIB possibly stating that the previous uptrend has reached its exaustion point.
PRICE ACTION TRADING. STEP THREE Find the forex reversal pattern. STEP FOUR Determined stop loss and entry point. PRACTICE,PRACTICE,PRACTICE AND PRACTICE SEE YOU AT NEXT VOLUME !!
After many frustrating weeks of trading with indicators and several losses I decided to remove my indicators and try price action trading. I've spent the past week studying price action patterns and candlestick patterns. My studying is not over, but I made my first 4 trades last night (Texas) and as of right now all are winners. Thank you to Wave-Trader for the...
-Structure LH´s and LL´s -ABCD in play -Overall uptrend if we look at the weekly chart -Arrows show what could happen I see this big move to the down as a major retracement for the weekly chart.
Be patient for Price action GBPUSD Breakout Or Reject, if price breakout the trendline maybe price will be move upward until 1.4722 and if price closing with candle pattern for down, maybe downward until 1,4459 Be patient for this :D :D
Price could make After 1230 going 1115
Fresh level of supply now being tested. short bias. price could go down lower to opposing level of demand. 1st target would be the recent pivot low created.
Im expecting a break the channel that formed during correction, which will result in another impulse wave towards 1.43 area.