This concept - not setup - stems from Shane Blankenship, my former mentor of MG. I use this analogy in many situations, where the market just pressing price, up or down. What's important here is, the release of the pressure. See that one wide range bar? This is "interesting", something important is going on here. Now, since every breakout trader is long, they...
Potential Short position as trend retests area of resistance and begins bearish move as indicated by ADX
I watched price stall at a resistance level ~102.586, unfortunately missed a move I was contemplating on trading down to a previous strong support level ~ 101.00. However, now that price is in this, what I think a very strong support zone, I'm going to wait and watch where price goes. There are 3 possible set ups I would look for, and all 3 are a bounce off a...
read my username before you say that my chart is more than 50% correct, I am just learning here, and based on "technical analysis" I believe that it will go up!
This is my first EW analysis. First I copied the upper channel resistance line and simply checked to see if I could find a near symmetrical lower support correlation. Coincidentally (C) has a near symmetrical match near where we are now. The lower support level of the channel ends at a measured move location: namely the (E)-(1) leg. This move would mean that the...
To help better understand how to use Fibonacci Spirals when trading, I have decided to dedicate a topic about them. My quest here, is to consistently generate predictions using Fibonacci Spirals. I have only recently started to see a pattern and once I found it, I could somewhat consistently reproduce the same results, that is... visually. I could not however...
The question we might all have asked ourselves is: how do we recognize a reversal and how do we recognize a retracement? (I am a newbie, so please if you have anything valuable to add, by all means help me and other newbies out by sharing your knowledge about the subject.) The divergence shown in the indicators can often lead to confusing thoughts. Rule of...
I am not an expert . Simply a student of the theory and i try to practice to understand this better. My Eliott Wave brothers might see this move as the end of a correction since the trade broke out of the main down trend which may explain why we're seeing a new push to the upside. What do you think ? Please comment or share your ideas. Thanks everyone !!
Uptrend triangle Fibo also shows that it is going back up after retracement from 20 Jan Higher low with stoch going down shows a uptrend movement as well For long, S/L : 0.67430 Possibility of breaking bottom trend line also exist. For short, Sell stop on 0.67575 S/L: 0.67829 fibo resist I'm still quite new to trading, Let me know your ideas
We have recently seen big bullish move on the 1h chart giving us the opportunity to catch a lot of pips on the way up to the monthly key level. Anyway this is a BEARISH MARKET and we've got to be really carefull. We don't wanna get caught on the shorts. This trade is taken on a 1% risk on the capital of our account.
Look what we've got based on Monthly descending bullish channel 1M: Bullish channel (not wedge) resistance sustained 1D-4h: Reverse price bar on 1D with DIAMOND TOP and H&S, SHS or Head & Shoulder figures formed on top for reverse and move the gold to new low Some details and multiple timeframes charts would post later
Been watching this pair for quite a while, it broke through the arrow where I put then it went through to brake the boxed support level I got from previous lowest low. Looking for it to hit A as a form of retracement but who knows patience is key. If it don't go how I plan its okay as its all about learning :)
Just for learning.
Howdy, This could go either way so worth keeping an eye on this pair as today's candle has not finished yet We have as you can see resistance but that could break through and retest as new support to go higher or create a new lower low. As always any feedback welcome good or bad.....still learning before I go LIVE
Hello again, Here is my analysis on this pair again I am still learning to we shall how this plays out when some news/information is released over the next couple of days as the dollar could get weaker. As always I welcome feedback good or bad to help me with my trading journey before going LIVE
Hello again, Just doing some more analysis on another pair, this is what I think may happen as the FED will be increase their information on whether to keep or change interest rate in the next couple of days which may weaken the dollar. Again I welcome any feedback good or bad as mentioned I am only testing my knowledge before I go LIVE trading.
This is my first ever post on GBPUSD. I am very new to trading and THIS IS NOT A LIVE TRADE I am just checking my trading plan to see if I can go live very soon but with lots of confidence. So please go easy on me. I welcome any feedback good or bad. Thanks Rick