Hello, everybody, I hope you have all had a great day today. I'm just getting home from my restaurant job and reviewing/managing some trades I'm currently in. AUDCHF is one of those trades. I've gotten better at catching myself when I'm about to place a trade for FOMO but sometimes I still fall victim. I entered the market at 0.68565 originally with a 395 pip...
Its interesting to see how certain bias's can creep up on you while trading. If you'll remember yesterday I published 2 ideas on CHFJPY. Originally, I was under the impression that the market would drop as soon as it touched resistance and reverse down to the bottom of the Daily channel where we would have set our original Target. Then, Price broke through the...
Earlier today I posted an idea about how I think price action breaking resistance could have acted as a false breakout. After reviewing the market again, I managed to find something I wasn't seeing before: There is a pretty clear descending channel on the Weekly chart. This breakout can certainly be a breakout on the weekly timeframe and will play out over...
Now that price action has broken the resistance line, we can keep an eye out for a price drop. This is backed by the sharp ascending wedge we see on the 1HR chart which creates a good short term trading set up. You can also trade the drop down the bottom of the Daily Structure for about 165 Pips. It is also completely possible that price is actually breaking...
On the Daily chart, we see an enormous descending wedge. Zoom into the 1HR chart and we see yet another sharp descending wedge which is almost about to be completed in about another 70 Pips. Once we see price complete the structure, we are to wait and see if we can find a pullback to trade the impulse up, or if the price trickles back down to the Daily Structure...
At this point, price action is in the green and showing signs of a pullback coming which would be a great opportunity to buy into the market. This could also be a reversal, however, yet unlikely considering that price action has just bounced off the Daily support line and has created a MTF descending channel on the 4HR and 1HR charts.
Looking at the 4HR chart, we see mixture of descending channels that span a few time frames. This could be a potential Buy opportunity for some within the next 2 weeks to make anywhere between 600-800 units against BTC.
This is my first time really looking into and looking for patterns within a crypto market. I believe that the 4HR chart shows a good ascending channel where price action had just bounced back from the patterns support line. This would indicate that price action will be dropping a few hundred pips within the next 2 weeks before continuing its long-term uptrend.
Looking in at the Daily chart, we can see a series of potential trading opportunities that one might have profited from. Multiple descending channels yet price never dropped so low so as to touch the 79.809 support line. Looking in at the 4HR chart, we see what looks to be the beginning of a reversal impulse, correction, impulse with price entering the next...
Looking at the Weekly chart, we can see the formation of a descending wedge Looking into the Daily chart, we see yet again another descending wedge. Its a more defined wedge on the 4HR chart. As we can see from the 4HR chart, not only is there a descending wedge, but we actually see that price has just broken past the resistance line of the pattern. It is...
AUDJPY Daily chart shows a slightly ascending channel following by a drop to the 75.227 support line and breaking it. We could see a potential reversal at this point or it can reach 71.018 before reversing. Looking in at the 4HR chart, we see an evening star formation with an impulse to the upside before entering what now looks like a consolidation period....
Initially, when I saw this trade opportunity, my trend line position had made it look like price had just broken through and was on its way up. However, after adjusting my trend line, I saw that price just bounced off the resistance and was trickling its way back down the channel. Unfortunately, I entered the trade when price "broke" through the trend line and am...
We currently see a descending channel on the Daily chart with a breakout to the upside. Price is currently pulling back which will allow an opportunity for traders to hop in on the trade. My TP is 300 Pips from current price with a tight SL of 25 Pips. Looking at the 1HR chart, we see the same descending channel pattern we see in the higher time frame. This...
This market analysis of EUR/NZD is for those who were able to enter in on the original impulse of the move. We have a pullback to the 50% Fib retracement and placed another sell order at the 38% Fib Line with a 80 Pip Target and 28Pip Stop Loss. Hope some of you can capitalize here! Great scale in opportunity for those of you who caught the first impulse!
I like what the markets showing! This is what I'm seeing (always room for improvement): D - running descending channel with two touches; possible it's just a correction to break out and go higher to reach 1.01285 level. 4H - Potential to pullback and create a double top for a deeper sell. or even break out for a possible bigger position; both with 20 pip...
The Swiss Franc currency index is currently moving in a series of lower highs and lower lows, characteristic of a downtrend. The price is clearly moving downwards with brief correctional pauses as shown by the ascending wedges and bear flag chart patterns. I am targeting a short trade toward the 97.8 area, which will be my profit taking zone. This area represents...
Prices have been tumbling down recently, having broken out of a corrective structure in the form of a bear flag pattern. This pattern was a good way for prices to blow off some steam, after the massive sell-off. Now we expect the prices to go towards the bottom of the corrective structure (bear flag pattern). This is a classic setup and there is no need to say...
Price formed another corrective structure in the form of a bear flag pattern after sellers struggled to hold ground. Now it has just broken to the downside and we are expecting further down movement. Things are a bit slow this week especially after the bank holidays yesterday. Risk management should be on point always. The technicals of this trade are; Stop Loss:...