Price action does surprise people. At the minute I took the trade, I thought it was a good entry. Then three green candles came up. I thought this trade was losing. What you never know is.... Price keeps its trend, just like what it promises you.
It was not the first time price which passed through this confirmation level kept going. Interesting! Still can't believe how powerful a support/resistance level is! Not a good trade but in the money.
This one is a bit risky. I got in because the big red candle at 18:25 passed the lowest point of the indecison candle next to it and it broke the fibo 0.618. Before that, price was struggling between fibo 1.0 and 0.618, which was just like what it did from around 17:15 to 17:45. Actually the price reversed from fibo 1.0 but just to confirm the trend, I waited it...
I thought the price would get to the trendline. However, price turned around at fibo 1.27. Seems that bulls still have their power and the bullish momentum is still high. Probably my trendline was drawn not accurately enough?!?!?! Oh man, this takes time and experience to master. Or maybe.... the price did get bounced already at 18:00 because of the long tail of...
The fibo 1.618 overlaps with one of the resistance levels. This is a dangerous trade as bullish power is too strong.
The price just broke out from the trendline. The uptrend was over. Then the price came to the fibo 1.0 level. I thought it would get to 1.27 but it seemed that 1.0 already held the price and turned it around. At the end of the trade, the price got resisted by a resistance level and it turned back down just now.
The price reversed at a resistance level slightly above the fibo 2.24. An indecision candle at 13:52 followed by a doji and then a comparatively larger red candle. So I confirmed a down trend was just starting. Although there was a large green candle at the end of trade, this kind of price action can hold for at least 5 minutes. The price right now is still...
This was not a good trade, even though I knew the price would go up. Price passed through almost all the fibo levels. When it came to 3.14, it should be the most extreme level it could touch. So there was a big green candle at 13:10, which had price going over the indecision candle at 13:04. That's why I took the trade.
Nice pinbar just closed plus dhlc(double high lower close), bounce off r1 line and fibo ret indicates bearish power rising. I have pending sell stop just beneath pinbar low. First target is set to pivot line and fibo ret confluence.
R1 level and previous resistance confluence at 1.114. First target 1.047 - previous bottom, could create first wave after correction and continue either to fall till 1.005(fibo ret and s1) or bounce of it till 1.072 and then fall to second target 1.005. Wait for price action to confirm this move for lower risk.
Multiple potential advanced patterns setting up on the USDJPY all around the same area. We've yet to break out of this consolidation, but if we do before Friday's Jobs number, we have a good location to look for our next short. Before I get a million nasty messages no, I don't think dollar weakness and Yen strength long term, but that's what makes me a "Trader"...
We got two significant fibo levels: 61.8 of all time euro level, and 100% fibo extension level. If the level of 1.10949 stand we will be able to see considerable rebound on the euro. Otherwise, the next fibo levels is an area of 1.0411 to 0.9987 (parity level). Good luck.
Hello everyone, It's been a while since I could find a great setup and here it is. I tried to make everything clear on the chart and combine both Elliott Wave analysis with ratio trading (which is really hot these days.) As the chart suggests we have started a higher degree correction in USOIL from 13th of January. Whether it's a correction or a New bullish...
Annotations on the chart. This is an update of my last chart "Anticipatory layout with important trend lines, levels, time fibs"
We might be cought in sideways within the red channel for another 20 days. I look at the Willy or MAGNUS™ indicator and compare it to a similar situation we had a couple months ago. The yellow box had some rangebound action in it with a little breakdown in the middle ( just like we had it now ). The question is what will happen after the yellow box? The red box...