From the analysis above, it shows a potential downtrend.
In the D1 timeframe, the market is in a descending channel.
The figure above in 1H timeframe, it has shown an impulsive move after it reverses when it touches the D1 Descending channel and it has formed a bear flag (price action within the context of a downtrend).
The TP point can be at the beginning of the...
Hi, new trader here. I'm trading on a naked chart
I've analysed USDCAD heading for a downtrend. It has broken off the ascending channel and formed a corrective phase.
From the figure above, it has broken off the corrective phase and could potentially go for a downtrend.
I've set a potential TP point when it touches the trendline on the higher timeframe.
The patterns showing is basically impulse/partial impulse, ranging and breakout with the last kiss confirmation, the last kiss is identified by closing of the breakout on the outside skin/edge of the the resistance or support line/zone/channel touching the most recent highest or lowest touch as the case may be, therefore bouncing away from the zone, youd gather a...
In this video I explain the reason behind my USDCHF short and why I took it, currently running in +80 pips profit from our entry on Wednesday.
Trading does not have to be complicated in fact it can be so simple and hopefully this video explains how to trade to a beginner.
Current trading levels in EUR/USD. I just got into a quick scalp long. Will reverse & go short at the 1st sign of weakness at the top of this channel or wait for a retest of the current high for a larger move.
The eurgbp made a huge up trend since severals week but it is arriving at a critical point as you can see on the chart.
A huge correction is waited by a lot of traders, definitively, i think it is not a good time to buy this EURGBP pair.
What's is your thoughts about it ?
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Let's see the BITSTAMP:EURUSD on the H4 timeframe.
We can see that the Currency is making Higher high and higher low right now. It's look like a beginning of a bull market.
However, the 200 EMA still pushing down the price, so be carrefull when the price will contact it in few days/weeks.
All we have to do is to buy support and follow the trend. At...
As you can see, the 200 EMA work very well and success on push down the FX:EURUSD.
Moreover, right now, we can see a reversal trend building. We have no confirmation yet but all we need is a signal, that buyers are coming for a long bull market on this pair. (Pull back + Big candle is a really good signal)
Buy the support zone at 1,12200 can be a...
The 200 EMA work very well on the FX:EURUSD longterm bearish market.
Buyers failled to breakout at the 1,12950 price, we go back on the shortterm range.
Support zone to watch : 1,11382
If the buyers could break the 1,12950 zone with 200 EMA too it could be a bullish signal.
What are you toughts about that ?