When I trade I tend to use the higher time frames as I believe they are more accurate. The time frame I will be using in this trade is the 4 HR and the daily. As you can see it is above the ichimoku cloud which is showing bullish on the daily time frame and it has also crossed the monthly resistance level and is signalling an uptrend , and has formed a flag...
not ideal inside zone but support holding, my thoughts..
After the breakout from the cup and handle pattern a retest has confirmed a good up move . RSI looks strong for the up move.
Hey Guys! I hope you all are doing great and having fun with trading. I have a very nice setup on DXY daily chart to share here. As we can see on chart a very strong Bullish Engulfing candle which is an early indication of trend reversal. We are expecting an up move which could happen in possible two setups which i have shared on chart. Note: Always trade USD...
We going long on AUDUSD. We have a 3rd touch on trendeline and a retracement on 71% Fibonacci.
Just a quick mark-up on USDJPY's price action. The mark up allowed me to realize there's a key mid-level that prices tend to consolidate. Also, there's an ascending and descending support/resistance where prices shows evidence of respect. I feel like there will be some big move in the near future when prices break out of this wedge type of pattern. I am still...
We have a perfect head and shoulders and a third touch on trendeline with retracement 70%. we are goin long. Remember always have up to 3 confirmation before taking a trade
Took this trade earlier at the break of the trend line when price was at 1.73633 and closed this trade at 1.74440 and closed out with £92.52 profit. As you can see there was a flag pattern forming on the 4 hour chart I waited until after the 3rd touch of the resistance line to go in and trade and it broke out on the 4th time closed early but happy with my profits...
We have an head and shoulders with a retest and also a third touch on trendeline with 50% retracement on fib. We are going short
HELLO TRADERS, MY ANALYSIS ON GOLD... XAUUSD IS IN A STRONG BULLISH TREND... AFTER RETRACEMENT BACK TO A SUPPORT LEVEL, IT'S NOW SAFER TO GO LONG WITH A GOOD RISK TO REWARD RATIO
DOUBLE TOP / M FORMATION BIG BEARISH MOMENTUM ON DAILY BROKEN SUPPORT ON 1H GOING DOWN TO 4H KEY AREA So what are we looking for? a major rejection from the 4h minor trend line and 4h key support if it breaks the structure and trend line with a big bear candle we will short if it continue to be bullish we will wait for it to break the resistance for long...
Two trades for 4h & day, with 3R/R and 5R/R respectively.
Same logic with prior Euro Short Key level retest and failed twice in 4h.
For the past week during the London into New York overlap price has been dipping down for a daily entry finding your close at or just after the close of the New York session. I marked the entries and exits with a red rectangle on each day this pattern has been currently appearing.
USDJPY is currently in a Bearish Descending Channel. Looking for bullish momentum to slow down and consolidate towards the top of the channel. Personally looking for either an ascending channel , or break of any consolidation at the top of the structure + any Rejections. The more confluences the better. However if Bullish momentum does not slow down and we see a...
Price Has broken out of its ascending Channel, Had a fake Break earlier this week. Clear break With Retest. Aiming for the bottom of the structure.