( circled ) here you are in no mas land half way in-between strong support and strong resistance, would you open a trade here? if you said YES then you really are gambling and should go to a casino, just ask yourself why would you throw money away on a trade that could go either way? you may as well put your money on RED or BLACK.
You have to be patient and wait...
I'm not going to point out where price touches these lines as it really is simple to see that these levels have been used as both SUPPORT and RESISTANCE, how do people not spot these? Do they constantly walk around with eyes closed? or more likely with heads in phones on dating apps looking for there next sexual transmitted infection ;p
It is so simple but yet...
Support/Resistance line = Blue line
Trend line ( TL ) = Yellow line
Blue + Orange arrows = Support
Purple arrow = Resistance
Looking at this chart it took me seconds to spot these key levels, Support and resistance level has been used strongly in the past and price on Friday came up to test this level as resistance, What makes this setup even stronger is price...
Here we have 2 strong trend lines ( TL )
TL1 was touched by price 6 times before it finally broke out, and TL2 was touched 16 times before breaking out.
TL1 when price broke out it had a bullish run for 8 days and in this time it managed to collect 270 pips, going into this breakout there was a slowdown in selling power ( small bodied red candles ) and a lot of...
We are waiting to see if todays candle closes above or below this key resistance level, you can see how strong this level is by where price has previously touched this level and then bounced, But we think price will bounce and make further movement to the downside.
You could look at this the same way as buying a house, would you jump in and buy the house straight...
I hope you've all had a good week and caught some decent pips. The market this week has been one of the worst conditions we have seen in a long time in terms if how slow some of the pairs have been moving and manipulation.
Overall we have still managed to catch over 100+ pips. However, please note that I will stick to mainly posting GBP pairs from now...
Hi guys, as over previous setup worked very well on eurusd as over other posts,what we see here next is that the pair may head a little more down from now so be ready to see some more downward moves in upcoming time.
Location : Eurusd H4 chart
BEst OF Luck
"Trade At your Own Risk"
If you you want to learn how we do it just Dm Us Here Or Any Other of Over...
This is just an update on this trade we have been holding since the 1.71882 area, We can currently see price at another key resistance level, now we might see price break through this and make further movement up... or we could see a drop now after a few days of flying high ( the aeroplane might be out of gas and need a refuel )
Even though we currently hold a...
Drawn on the chart we have a key monthly support and resistance level ( been used as resistance in this chart ) On the monthly chart this level has been respected and touched the past 4 months... Get the chart up yourself and check you lazy bas#a'rds haha, You can also see this key monthly level has been respected on this chart ( 4H )
Now you can see why it is...
Study notes on the Babypips trading course
Based on this article: www.babypips.com
Example is EUR/CAD, when uptrend stopped and trend shifted into a brief downtrend.
The rising wedge is either a REVERSAL or a CONTINUATION pattern
Bad news in an uptrend, indicates a reversal is on the cards. In a downtrend, more of the same.
Also called a higher swing low trend reversal, an Inverted Head and Shoulders pattern is formed when price action within a downtrend traces a higher swing/pivot low than the previous one.
The Inverted Head and Shoulders pattern can be formed because the sentiment that was formerly producing the downtrend is now possibly shifting and selling pressure is...
I`m sorry - I made the mistake and posted content whose violated the house-rules of tradingview.
I decided to repost them because they were awesome trades. :-)
If you still hold / trade them, you can check the update-section and take a look at the analysis.
Peace and good trades
Wanna see more? Don`t forget to follow me.
Any questions? PM me. :-)
Today we want to share with you our educational idea.
We are curious what you think of that.
Recently we observed Sentiment Oscillator. It can be useful when measuring general sentiment on the market regarding certain assets.
It gives a good idea of the investors’ approach. It also shows when trend is to be changed from positive to negative and other...
We have noticed a recognizable pattern with pretty clear wave structure, which suggest more upside in upcoming days.
Looking at daily chart, we can see an impulsive five-wave drop from 1.6155 highs and in EW theory, after every five waves, a three-wave (A)-(B)-(C) correction follows. As you can see, EURCAD also broke a channel resistance line,...
Hi everyone so far I can see this pair going either way: I have made plans for both cases if either is to happen. I have set tps as well as well as alarms in place.
Happy trading , any questions let me know
Bulkowski's Big W.
Keep in mind that we are in a long term down trend, making this riskier than usual. In fact I am bearish and short so this goes against my bias, but the possibility serves as an education for myself and documented specifically so I do not lose the chart. Enjoy.
Characteristic | Discussion
Price trend: Downward leading to the pattern.