I am learning, reading through the Naked Forex book. There is a strong bear candle that has printed on the hourly and Daily support/resistance zone.
Can you see the around 1.27557?
I believe this is going to fall at least half way down to last daily chart s/r
I placed a sell stop at 1.27191
S/L on hourly 1.28052 then switched to Daily candle 1.27928
Glad to be back after a bit of time off chasing other responsibilities of mine. EURJPY has broken down through what I see as a head & shoulders pattern play neckline.The measured move is some 200-250 pips lower providing the neck line break is held. I suspect bounces back to that neck line will be met with resistance. Hold under the neckline and this opens the...
In my novice analysis I have concluded that because of the extreme high we saw in this pair at 2.6 previously and then the extremes of consolidating lows around .14103 there is anticipation for a bull run.
•the price has broken the trend line creating higher lows on the weekly and daily
•price has been consolidating for an extended period of time after a huge...
Based on my novice analysis I’m expecting price to hit the first Tp and possible push through till the second TP.
•Price has broken the trend line and is consolidating for the weekend
•Price has created a high-low
•Price was last here in 2017 and then showed a bullish momentum.
•Ichimoku cloud is underneath price and Chikou Span , price has also crossed over...
Based on my novice analysis, price has hit a major support zone and has created 2 new higher-lows.
• Price trend has also crossed over.
• Price could hit a major support & resistance level of 10,811 or it may push through towards 11,250.
I am very optimistic about this - I am not taking the trade but I am watching it to see if my analysis is correct.
After failing to follow through with that H&S formed last week, we have printed some support/resistance for APT. The path of least resistance will be to follow the trend upward, and likely where we will go from here, but wait for confirmation before taking any trade.
I just started to back test my trading plan but still unsure if this would be a good analysis of the chart and whether it was a good place to put my stop loss and take profit if anyone has any recomendations or any feedback i would reallyappreciate it
thank you very much.
i saw that it was a down trend so i marked it with a trendline and also it was rejecting...
Another Forex trading snack.
Well like that the market does what it wants too! The market is never wrong!
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Ever sense the stock market pushed to it last all-time-high, followed by risk off fears of the pandemic, we’ve only challenged the re trace move bacK to the 61.8 Fib level and now are grinding around.
With zero or close to zero rates in most of the world, money managers who for the most part have only seen for the last 11 years a...
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I posted up a earlier a trade that failed me and my original setup. Sudden volatility struck fast and hard!
Ok, I will admit it, for a moment my emotions were crushed. I went from trading my setup emotionless, to just about packing it all in for the day!
A bit of self talk changed my fear of having just lost, to...
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AUDJPY has created this really nice bearish wedge pattern. In my opinion there is two good ways to play this pattern. As always patterns can and often do break in the opposite direction from ones own analysis or market bias’s. Having said that, trade if you must with your own risk tolerances. ‘‘Tis also isn’t trading advice, but my...
Personally I'm seeing a 113+ Pip reward for a -13 Pip loss.
AUDCHF Has tested strong support and failed to break. I'm Looking to see some bounce on opening and a clear hourly candle close to be able to determine what direction this will go in.
Happy trading, and stay safe.
Impulsive moves are what we are looking for. Right? I mean those are the moves that have the biggest bang for the trading risk buck! However looking around the charts sometimes you just run into a move that has already happened. Sad, but it’s true all to often.
Opportunity could just be hiding in plain sight though.
This is when I look for a EW ( Elliott Wave )...