4Hr Time Frame: Price is back at strong areas of resistance. By reading price action we can see that price tested this area in the past, showed signs of rejection and had a reaction to the downside. Reading structure price looks as if its ranging in between our support and resistance zones above (gray boxes). If price manages to hold below this strong area of...
Daily Time Frame: Price is approaching areas of resistance at 69.000 key psychological. By reading price action we can see that price had a strong reaction when it tested this resistance area in the past. Notice the strong bearish engulfing and wick rejections (pointing to the upside). If sellers are still at this zone, then we can anticipate them protecting this...
USDCAD: broke below 1.39750 key psychological and snapped back above support (fake out). Price managed to close off a strong daily candlestick which engulfed six days of daily price action (notice the size of the daily engulfing). Scaling down to the 4hr time frame we can see price ranging between 1.39500-1.45000. Also notice how price broke above this down...
Daily Time Frame: We can see price creating a double bottom formation at 107.000 key psychological support. Also notice on the second bounce how price created a morning star reversal formation. Scaling down to the 4hr time frame, we can see that this market has been ranging between 107.000-109.000 key psychological. If price comes down one more time to 107.000...
Hi, I made a look back since 10 years ago on gold on a weekly time frame. I found an amazing pattern yet simple pattern (AB=CD) and using fibo level to determine entry level. Trend 1 (Bullish) : October 2008 to August 2011 Trend 2 (Bearish): September 2011 to December 2015 Trend 3 (Bullish) : January 2016 to present With help of the fibonacci extension level,...
A potential shorting opportunity, coming of decent impulses to the downside, nice small level of resistance. You want to be wary of the higher timeframes (Daily) as we are at wicked support which does make it a bit more uncomfortable.
Based on the higher time frames, the price has been declining rapidly to the downside, the trendline was broken and tested our key daily area of support 1.81500 which was created by the previous swing to the low before retesting the key institutional area of supply1.88000. I will be monitoring candlestick behaviour around this key region to see if we can get more...
Good Afternoon traders!, I will be actively using this platform to journal and share my perspectives on trades to hopefully add value and inner confidence to your very own analyses. To begin with, il be giving my perspective on the DXY because of its validity in helping understanding how USD majors may be performing in relation to the performance of the DXY. So,...
Hi guys (Ladies and Gentlemen). Here are my thoughts for oil prices : - Crude Oil is on a bull run since December 26th, 2018. Prices are experiencing a 3rd rotation (Pullback < 20%). The bullish momentum is still present and we might experience a long run continuation at key levels. There is a strong resistance at 57.000 - 57.500. In addition, yesterday March...
Watching the big picture, we are still on an uptrend on the weekly and daily time frame which makes me look for trend continuation opportunities. Currently price is at a very sweet spot while RSI approaching oversold levels. Great risk:reward if entered at market if conservative stops and targets are used as illustrated on the opened long position in the chart.
Hey guys, welcome back to another Forex Weekly Forecast. In todays video I show how to do a higher timframe analysis: youtu.be If you like this video, please, hit the like button. Follow me here. Subscribe to my Youtube: www.youtube.com Joind my Facebook group: www.facebook.com Best regards. Alexander Nikitin Professional trader and programmer.
Straight forward Double top, possiblity of a 2618 depending on how things progress. But last weeks candle didnt close higher than the previous high, previous area of Resistance.