Newer Trader trying to improve T.A skills would appreciate any feedback or advice.
AXS seems to be forming a falling wedge pattern bouncing off strong resistance around 123 for the week in the 1hr charts. Put my positions in at $123 buy price with a 119 SL with 5x leverage.
Double Top candle stick patterned formed. Also the US Dollar chart is on a down trend. I will wait for price to get back down to 0.91851 before Entering from there
1st Target Mid Key level 0.91500
2nd Target Main Key Level 0.9100
Still Learning the ropes any other new traders or experienced traders that would like to give advice or chat and give thoughts on our...
The probabilty of a long trade is high because the market has come very close to the support line and has not broken past that.
The market is at a bullish uptrend.
The last bearish candle has not exceeded the bullish candle.
As mentioned before I am new to trading so any feedback is welcome :)
Due to the market being very bullish it is a higher probability that the market will go long. The Bears might push down to the support line and then the market may pick up and go long.
I am new to trading so any feedback will be great :)
Welcome to another Forex Trading Snack.
NZDCAD looks good for a possible EW ( Elliott Wave ) 5 wave pattern on the hourly or the 2 hour and also in the 4 hour charts. Sometimes patterns are much more clear on a certain timeframe, but at times like this, it fairly clear in multiple times.
Friday trade was wild with NFP news and price action that followed. Yet...
It’s not all that often I get to post up a scalping plan.
So here is another Forex Trading Snack!
EURUSD broke above it channel it had been running in for about a week and one-half. Although it seems tired a bit for today. It’s still grinding higher. Although I can count a EW 5 wave in the 15M I would suspect pullbacks to be bought the closer we get to...
If you have been trading GBP pairs you’ve know all about the tape bombs or headline whiplash moves. It’s hard to get in a trade when a headline can just drop or jump by 100 or more pips regardless of technical setups. But we’ve somewhat known the with Brexit and any of the possibilities there of, things were going to get volatility rolling.
So here is another...
Well to say the least Friday’s move was a surprise. I mean back to back multiple hundred pip moves, WOW!
The market is never wrong! So yes, why not such a moving pattern? Why not another day or two like the last. It’s all possible.
Well here is how I took the challenge. And here is another Forex Trading Snack.
Just because you lose a trade and take a losses,...
You’ve all head the story of the Bulls, bears , and pigs..., you’ve herd that one before I’m sure!
Bulls make money!
Bears make money!
But pigs get slaughtered!!
Here is another Forex Trading Snack.
GBPJPY along with I think every GBP pair ripped higher today in the markets. Good news on the Brexit front, or just good rumors to spark traders into positioning...
To say trading Forex / currencies can be frustrating, is an understatement. To be a good trader, we must shake it off and get busy searching for high probability trades worthy of risking our risk capital.
So here is another Forex Trading Snack.
Earlier ( what I mean is a few days ago ) I pointed out a nice EW ( Elliott Wave ) 5 wave pattern developing in my...
Another Forex Trading Snack.
I’ve been following the USDCAD for sometime looking and waiting for a great opportunity to possibly trade it. But for some time it hasn’t followed oil, or the other commodity currencies. Currently though it has made a very good looking bullish Flag pattern inside of a bigger triangle, which happens to be inside of a even bigger...
Here is another Forex Trading Snack
NZDUSD fell below the 2015 low ( indicated by the black horizontal line) but bounced just as quickly back above. Thus tells me that that level might be of interest of larger position holders.
What makes this very interesting is the weekly candles. Moving back to the shorter 4H charts I saw this inverted Head & Shoulders...
Well the blue top channel trend line held once again on this pair. It is a weekly channel top trend and until it’s broken and held the path of least resistance is higher. Add into the mix traders, and thus the market is looking forward and wanting something positive out of the Trump China trade war front. With meetings at the end of this week 10-11-13-19 I can...
Here is another Forex Trading Snack!
I try to post up higher probability trade ideas in my opinion according to my own style of trading. If this also matches yours. Great!!
Allow me to just say, this idea is both long and short trade plays in one pattern and trading idea.
Full disclosure; I’m already short at 107.75
When news hits and markets react to it, ...
And here is another Forex Trading Snack.
This pair is offering up one of the cleanest Elliott Wave 5 wave setups right now. I usually post this kind of setups as EW 5 wave.
On the chart we have additionally a down sloping channel pattern that is slow in price movement and has over lapping price action forming the wave 3 down to wave 4 in the pattern. This kind...