Determination. High chance to be a bull trap if bounce at 6.20% Trade safely.
audchf enclosed in a triangle wait for determine passway...
I'M CURRENTLY SITTING BACK AND JUST WAITING FOR AN ENTRY FOR EITHER MOVEMENT TO THE UPSIDE OR DOWNSIDE. AS YOU CAN SEE WITH THE ARROWS MY LINE OF DEMAND HAS HELD STRONG AS PRICE ACTION HAS TRIED TO BOUNCE OFF IT 3 TIMES WITHIN THE LAST WEEK. AS I'M NEUTRAL ON THIS PAIR FOR NOW THERE IS ONLY TWO POSSIBLE WAYS THIS CAN GO SCENARIO A : IN THIS CASE PRICE ACTION...
WHEN I TRADE, I TRADE STRAIGHT TECHNICAL'S, NO FUNDAMENTALS. I BELIEVE FUNDAMENTALS DO PLAY A MAJOR PART IN TRADING BUT THE WAY I TRADE I DON'T REALLY LIKE TO GET TO MIXED UP IN WITH FUNDAMENTALS DOESN'T MEAN I DON'T TAKE NOTE OF IT. JUST PREFER TECHNICAL'S, I DON'T USE ANY INDICATORS ASWELL IF I DO USE INDICATORS IT IS THE MOVING AVERAGE BUT THAT IS ON MY MT4...
VERY SIMPLE STUFF BIAS: SHORT DESCRIPTION: BEEN WATCHING AND BEEN IN THIS TRADE SINCE LAST WEEK BUT WE ARE FINALLY SEEING SOME MOVEMENT. REASONS FOR ME BEING SHORT ARE QUITE OBVIOUS. PRICE ACTION HAS BOUNCED OFF RESISTANCE @1.71000 AND NOW WE ARE HEADING TOWARDS SUPPORT @1.67300. THIS TRADE IS JUST OVER 350 PIPS. GOOD LUCK TRADING.
So, the first day of december began with a false break above a considerably important price. A week later it corrected itself in light of a market dominated by the bears. We proceed on the assumption (assuming is inherent in forecasting) that this bear trend is still intact unless structure says otherwise. By that I mean if '3' is breached. 5 will be...
EUR / CAD looks bearish as the new Tentative Down Trendline has developed. Trend Determination: 3rd time frame is Trending Up. 2nd time frame is Trending Down. 1st time frame is Trending Down.