On daily bullish engulfing pattern is formed at daily support level, so we have to wait for retracement to the level and must buy after bullish candlestick confirmation. But this is market and anything can happen so follow the price action and take entry near the zone based on bullish or bearish evidence.
If you have not done so it is a great time to exit your USDETH shorts until further notice. It looks like the worst of the storm is over, and there is obvious buying pressure in play but I will not be too quick to jump on that train just yet.
Overall, my sentiment is that ETH will bounce to 220 level and perhaps beyond too, so my position currently...
Strong Bulls are always looking to buy. Strong Bears are always looking to sell. Weak Bulls and Weak Bears are usually indecisive and wait until its too late, entering at the worst possible time. In general, Strong Bulls sell to Weak Bears, and Strong Bears buy from Weak Bulls. When both Strong Bulls and Strong Bears sell (strong bulls to take profits, and...
1. Head and Shoulders pattern forming on daily chart
2. Price rejecting common point on 4hr chart
3. Moving average crossover on 4hr chart
4. Inside bar formed on daily chart
5. Price retesting previous support on hourly chart
Enough confirmation for a SELL trade
SELL @ 1.61190
SL @ 1.62000
TP @ 1.61200
SELL @ 1.61190
SL @ 1.62500
Hello all - DuncanForex here with a continuation trade
A Buy limit at the 61.8% retrace activated and lets now see if it heads higher along with the other trades I am holding
The entry was on a 1 minute chart however you cannot publish lower than 15 mins so it is being managed on a 1 minute chart as well
DuncanForex.com is now live.
Thanks for looking at my...
After USDCAD beat the congestion/resistance zone, it also beat a Daily bear trend line.
Now on 4H timeframe we got a Bullish Bias and we can place a new bull trend line.
The congestion formed before breaking the Bear trend line and resistance could be seen as a retest, but i missed the entry bar. So now i expect a retest on the following zones:
- On the EMA and...
The S&P 500 reached a new all time high last week, leading many to believe the bull trend is still intact and the market is strong. However, this is not necessarily the case. Look at what happened the past 3 times prices reached this level - strong bulls and strong bears sold. Although the rally up from the 2400 low has contained strong buying pressure, prices...
If XRP break the upper line we have a great grow to marked lines
And if it does not break the resistance line, we have a price correction within the specified lines of Fibonacci support
In all supported lines, there is a possibility to return the upward price
USD/JPY - Short
FED Interest Rate decision moved this pair Wednesday 21st ofJune (Bear Market) leaving the interest rate unchanged. The outlook for next months decision is now the topic of discussion after no change this month i.e. Increasingly likely for FED Interest rate cut. The Equity markets showing strength I think to end the week we will see a strong...
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...