i) The lows at the end of May kissed the .236 fib level producing a substantially large wick, an indication that the bears are losing momentum.
ii) This was followed by a strong Bullish Pin Bar which printed on the .5 fib level suggesting that the May lows (.236 fib level) had a strong potential to be a reversal for the short term.
Counter Trend Trade. My idea is to trade the pullback at least to the first bear fractal on the 4H chart. Daily chart shows a big bullish candle and the price may still goes up touching the top line of the resistance level. My psychological resistance level is based on the resistance level in 2016 previously. Why I take this trade is because the inverted hammer is...
We have completed the regular flat and are now starting the next impulse. My trade would be on the 1H time frame (or even lower) once another flat forms in order to get into the buy (2nd position). First position was at the bottom of the structure.
I am now expecting the next big impulse up, except something changes drastically in the structure.
I've been disgustedly inactive due to hectic school schedules as well as slow internet connectivity. For that, I will be publishing my rationale on why I entered the following trade.
For the past days, I've been obsessed with Canadian Dollar pairs.
If this Forex pair does break the graphed line, it may possibly dip to the 1.42500 area.
After the huge decline of the Euro and Loonie Forex pair, it has formed a consolidation on lower time frames showing that it may continue its decline later on with the formation of a descending triangle.
From the recent drop of the oil prices due to the disappointment of the market from the OPEC meeting and the recent bull of the Euro due to several factors (including the drop of the Dollar), the Euro-Canadian Dollar pair has been on a market range even during the bulls of the oil beforehand the OPEC meeting. It has now broken the mother bar and is slightly below...
Hi again this is an update.
We made our money during sleep, now it is time to make some action.
I think I will continue doing like this ( just updates )
As soon as I can I don't always have time like this.
AGAIN! the retracement will start soon then :
Best plan :
- Get out, wait until the end of the retracement and get in again
Less best plan :
- Get out,...