BTC short call - ABC complete for wave 4 wedge
Hello all - DuncanForex here with another trade idea After the quick scalp on Friday, price action is cycling higher this afternoon Multiple ways to trade - on the daily chart - you can enter on the break of the high I am also looking to enter on the retrace overnight to see if the area I have shown in the picture holds as support and if it does I am in on Buy...
Hey to all. If you are not an insider or you do not have insider information, you will not know exactly where and when would be the price reversal. But you can watch for the accumulation areas and see the reaction of the market to certain actions of the participants. The price includes everything - fundamental news, insiders, the market mood all participants,...
Hello all - DuncanForex here with a continuation compound trade With my first entry hitting TP this morning, I am looking to get more entries now on the next cycle higher Trades 1, 2 and 3 entered this morning at 1.2070 along with GBPJPY Trade 1 TP Hit Trades 2 & 3 Stop loss is now at entry point of 1.2072 - to take into account swaps. Entries, 4, 5 and 6 are...
AUD/JPY has formed a bullish momentum divergence at a long-term support/resistance zone (defined by my algo - see Related Ideas for more info). Short-term support is in the 71.50 area - so look for a retest of that level. It could be a good entry point. Short-term resistance is in the 72.30 area. Once that level is cleared there's not much until we start hitting...
We've got a bit of a strange one here today... EUR/CAD is shaping up for a near textbook bullish divergence pattern AND it's sitting on a long established S/R zone (defined by my S/R algo - see the Related Ideas). Why is that strange? Well, basically because EUR is so weak at the moment. It's just broken multi-year lows, so unless that's a false breakout...
Hello all - DuncanForex here with another trade idea Following todays price action, I think the market has printed a Bullish Gartley pattern on the 1 hour chart. If the highs get broken , then my Buy stops will activate. I am looking for more USD weakness , however looking at correlating pairs USDCAD is very bullish and therefore could lead to more USD...
Hello all - DuncanForex here with another trade idea Last night - a higher low was printed on the 1 hour chart- which based on the 7am BST bullish pin bar candle will now start to cycle higher again. Along with USDJPY to head far lower, with the retracement trendline break out, I do expect GOLD to get up to the 1450 area in the coming week This move will be...
Hello all - DuncanForex with another trade idea I don't normally trade this a low a time frame, however with the inside day printed last night and the downwards consolidation trend line just broken on the 5 minute chart If this 15 minute candle's high is broken - I will be looking to add more positions with a buy stop Due to the timeframe - I will be only...
Tesla is a stock that has very big swings up and down, forming a ranges over a long period of time, each time the stock breaks through a KEY LEVEL in the market, it puts a retracement and creates a new range. In April TESLA INC broke through the 250 level (Bottom range of the channel) potentially looking to create another rage. Traders can look to take advantage...
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trade along pt.2 taking profits and reversing some positions
Trading is hard work - But no one wants to hear that it is hard work. Everyone wants a short cut. A short cut does not exist. If it did - everyone would use it and the market would cease to exist. Everyone who starts out trading is lured in by the profit potential. You might get lucky and make a quick buck. But over time you soon realize that trading is a...
Trade Identification How many times have you "Missed" a trade. Once traders have a trading plan, they spend their time looking for set-ups. I would urge to take the next step which is Trade identification. I am not talking about clicking on a chart and seeing if your set-up is there. You want to be able to look and a chart and project what it can do and...
I am going to start posting mostly DXY charts here now, specific pairs or questions are available to followers or email trader.constantfx@gmail.com
ABBV is selling off this week in a third leg down from the buy climax and all time high. Although it looks strong at first glance, this is more likely a sell vacuum (sell climax) than the start of a strong bear breakout. A vacuum is created when strong bulls step aside and wait for prices to reach a location they want to buy, and the strong bears continue to...
OANDA:XAUUSD - Weekly (Bearish) : Doji at a weekly level indicating indecision and momentum loss with a wide swing divergence - Daily (Bearish) : Pinbar rejection with divergence - 4hr (Entry) : Double top with a trendline break EP: 1336.25 SL: 1360.36 TP1: 1311.47 TP2: 1290 www.pipkingsfx.com Like the content? Support it by.... SMASHING that LIKE button...
There is no one clear definition of price action. It can be as simple as "Every tick on any given chart, of any given market." However this definition is too broad and does not adequately describe the term. A better definition is "The collective result of buyers and sellers entering the market for any logical reason, which together create reoccurring patterns that...