NOTICE HOW MARKET CLOSED UNDER PREVIOUS HH,HL . HH,HL REPRESENTED BY THE RED AND GREEN FOR LH,LL . MAKET STILL UNDER 50EMA. LOOKING FOR MARKET TO TEST 4H SUPPORT AND BREAK TOWARD DAILY SUPP . LOOKING TO TP@1.618FIB
Throughout 2016, Aud/Usd always trends HH & HL just before hitting the .77 mark then we see a crash to the downside. Early 2017 its repeating the pattern, creating HH & HL, we could see a big move to the downside in the next few months to come
MY VIEW: STRONG SUPPLY LEVEL HH, HL TREND CONTINUATION FORMTION 0.618 FIB % RETRACEMENT DAILY CHANNEL STRONG MACD DIVERGENCE RSI ON OVERBOUGHT SIDE
PRICE ACTION TRADING. FIRST STEP Draw the channel. And check how the price moving. HL- Higher low HH-Higher high LL-Lower low LH-Lower high STEP TWO Draw the support and resistance lines. PRACTICE,PRACTICE,PRACTICE AND PRACTICE
1.Daily MACD hidden divergence and zoomed to H4 MACD hidden divergence. 2. HH, HL formation. 3. RSI is Overbought. 4. 50% Fibonacci Retracement. 5. Strong daily resistance zone.
Potential set-up for head and shoulders pattern. Buying the right shoulder.
Hello Traders, Here, I have used the time cycles approach to determine major lows in the FX:NZDUSD pair. After doing little bit of shifting of the WEEKLY and MONTHLY cycle arcs, I was able to figure out that, the FX:NZDUSD pair is currently in a 3073 days or 100 MONTH cycle, on average. This means that every time we reach the end of a 100 month period,...
Confluences : 1/ Trend 2/ break of 1.10 3/ EMA's rejected 4/ Fib in play 5/ Bounce of TL