EURUSD quickly came back up yesterday after the interest rates. It doesn't give us any selling opportunities right now. The levels where price is currently trading are considered a strong resistance and that's why buying is also not recommended. That's why we would rather wait for a better setup and not trade EURUSD today. Once we see the market breaking...
The candlestick indicates a trend change in the price of the stock due to buying interest backed by significant volume compared with the previous trading. The 0.475 is the price Point of Control with fresh buying interest that has emerged and is set to lift the stock higher. MACD and OBV also indicate a divergence signal. Hence, align with the candlestick trend...
Take a look at how Gold pushed up! What did Gold do during Asian and London session? The yellow line is the daily close yesterday. You can see how price touched it three times. Just after the second touch, we have an Evening Star made. The following candle is bearish engulfing. Price has moved down. The third touch on the line is a bit of a fake out. The...
GBP/JPY Buy Set up Technical breakdown on GBPJPY GJ is in a very bullish condition, however, I understand that the pair is also trading at a strong level of resistance Saying that, GJ has the potential to break past resistance, and this could be the trade we need to make it happen GJ has broken 15m resistance but hasn't come back to retest, this key area also...
EURO / DOLLAR; Technical Breakdown (Long) So, as you can see we've had a depletion at 0.98800 where price failed to break the lows and printed a clear inverted head & shoulders After the third bounce of the trendline, I was expecting price to break through, indicating price is reversing We have clear / well respected support / resistance zones marked out,...
How did Gold move 157 pips UP in 6 hours? The yellow box is an exhaustion area. It can be seen previously on September 1'st. The shape that is made here I've seen move up a lot. The yellow line at the bottom is what I'm looking for to enter. I want to see a push above that in order to enter a buy. At the bottom, we can see a long lower wick showing the...
A Bearish Shark setup has its retest. But is this it, or not? Shark Pattern can have up to 3 entry zone, test 3! So it's best to wait for candlestick confirmation to engage the trade and ever over trade.
That is why the Shark Pattern and the Crab Pattern is the toughest harmonic pattern to trade. And that is also why we must ensure that our students are well-versed with Harmonic Patterns and have profited from other Harmonic Patterns before we teach these bad boys. We are back into the waiting phase; I'm waiting for a 3-bar reversal pattern to engage the trade.
Yesterday we saw a new low on EURUSD after price rejected the 0,9976-0,9996 zone. While the downside move is still active, we will continue selling. The next target remains at 0,9800. Tomorrow we have ECB Interest Rates decision. Until then the move will probably slow down and there won't be that many new positions being opened. We will expect bigger moves...
Piece together the simple aspect of symmetry and math. This decline on the 5 day (and weekly) proves to showcase a coincidental mathematical drop from Nov 2021. If this does play out our BTC bottom should be the 28th Oct 2022. Note: - 1st drop for Nov 2021 15 bars - 2nd drop from April 2022 15 bars - 1st up 13 bars - 2nd up 13 bars - Gaps from high to high both...
After forming a new low, EURUSD has now started a pullback. The best thing to do is to wait for this pullback to end and then look for entries to the downside. We should watch out for reversal signals around the levels of 0,9976-0,9996. If price breaks above 1,0090 then this downside move wouldn't be valid anymore.
On Friday, EURUSD formed a lower high and it's now testing the bottom at 0,9900. It is very likely that we will see a breakout and price reaching 0,9800. The ECB Interest Rates are this week which means we should see some moves. Entries should be made after a pullback or a breakout. We're definitely not looking to buy!
Simple and price action! chart is so obvious that does not need anymore comments.just be careful when adjusting stoploss! good luck all!
Counter-trend traders, this is another trading opportunity, a Bearish Bat Pattern completes on the daily chart. It will be a busy Monday for traders. Share this with your friends, so they won't sleep through Monday and missing lots of trading opportunity. What I love about this setup, there are RSI Divergence on the lower timeframe.
Counter-trend traders, this is my favourite setup for the week, a 5-0 Pattern on the 1hourly chart. I will be waiting for the 3-bar reversal to engage the trade and as an experience trader, this trade will give me an opportunity to have lower risk with higher returns.
If you remember the analysis that I made, you would remember that I said that the Bearish Bat on the Daily Chart won't be fulfiled. Real trading means, sometimes after weeks of waiting, there is no trading opportunity, and that is ok. I always said, it is better not to engaged a trade that doesn't seems to work out rather than regrets after engaging those trade...
Aggressive Counter-Trend Traders, you might have an opportunity to engage GBPUSD on a buying opportunity. Why is that an aggressive move? That's because there is no structure or support looking left. At the minimum, wait for a 3-bar reversal before engaging in the trade. Your first potential profit taking level will be at 1.1576.
Historical data of gold shows that September has always been a very significant gain month for this particular commodity. Using this we can create some confluence and frame what is going on right now. From just a raw price action standpoint gold looks to have created a local bottom, with a nice double bottom formation, having the 2nd low being higher than the...