ANALYSIS ON GBP/AUD PAIR:
*-Price broke through the consolidation zone between 1.845 & 1.875
*-Price broke the trendline & retested it
*-Full body closure below 1.845 which has played as a strong level
*-Moving averages almost crossed
*-On 4H timeframe we have a bearish spinning top
Next destination on this pair is the 1.795 support level.
Always have good stops in place so you don't blow your account. Never play with money you cant afford to lose or you are just gambling. Good target and stops in place. I don't win 100% of the time , but as as long as your R/R is good you have a good chance of beating the markets.
This descending channel meant you could have been buying at every bottom trend line touch with take profits once it hits the top.
Risky moves were selling from the top to the bottom
VERY close to major support structure area. BIG BUY coming up
DON'T miss this - an UNCOMFORTABLE lot size on this move will go a LONG way in proving that patterns are KING!
Hi Guys this is a quick lesson from today's live chart USDZAR. Most people are looking to short the Dollar today so in today's trading Room I looked at this particular chart and advised that you only open a trade once price has pushed lower and given a short trade set up. You'll see from the chart that it was tempting to open a short on a fib retracement and...
Hey guys, EURCAD has been on the rise today, and is approaching an important area on my chart. If the trendline is broken, there is lots of upside potential, with 1.530 being the next key resistance. However, we are still bearish on the daily timeframe, and we could see a push back down to 1.5000
There has been really nice bounce and price is now testing the sideways resistance, if we break out and we manage to stay two 1D candless above the sideway line, then we could see rally to the first resistance (yellow line).
If we break more down, then we could see indices that Bitcoin is going to retest the 3.100 USD price.
The market is highly manipulated,...
This pair has put in false breakout as well as Double right after. There is also Bearish divergence on RSI confirming bearish bias.
Currently pair has broken previous structure support, turning it to a resistance.
Sell @ 1.13302
ATR Based stop loss above the previous heights @ around 1.13478
First take profit target @ 1.13052
Second take profit target...
Although here on the 4hr chart the volume does not look notable, if you zoom into the 1 hr chart you will see a big volume spike that lines up exactly with the recent 1 hr golden cross. We have not yet hit our projected breakout target of the diamond bottom pattern which makes me think we have one more small bullflag breakout upward from here to around 3850 before...
SPY is in a tricky situation here. Currently it is stuck in a short term ascending channel. The breakdown point could be any day now as the daily Stoch and RSI are reaching overbought levels. One it breaks down, the next point to watch is the long term support level from back in 2017 at $254. From there it can either break below that, or rise back up to the four...