Because over 65% of the time the market is in a trading range, either the form of a channel or sideways. its a shame that only less than 45% of the time you will see a clear trending market and if you are the type that typically always over position, a slight little move against you will most likely lead to a big loss for those of us trading on Futures account....
price maintains an inclined resistance to the downside but an inclined support going up. Prive eventually breaks out bullish. We take profit in the next zone.
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Welcome back for some more chart analysis practice. I found another trend continuation...
If you like the content and are getting value out of it, please make sure to hit that like button and leave a comment. Also, if you're interested in seeing more of my analysis don't forget to follow me, and make sure to check out my profile/bio for more in-depth analysis.
Welcome back for some more chart analysis practice. I found another trend continuation...
If you like the content and are getting value out of it, please make sure to hit that like button and leave a comment. Also, if you're interested in seeing more of my analysis don't forget to follow me, and make sure to check out my profile/bio for more in-depth analysis.
Welcome back for some more chart analysis practice. I found another trend continuation...
Hi
it is mainly based on Divergence and Price Action analyzing techniques
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As price broke resistance we took buys on the retest using half risk as a solid support didn't form, our stops were below the current 30m candle. Price ran for 10 pips before we moved stops to BE, price retraced after 11 pips stopping us at entry.
Another great opportunity on usd/cad trade. We can previous taps of our fib region at 78.6% where we respected, considering the fact that usd/cad is still bullish, this could be a retracement region for USD/cad to create another leg to the upside.
risk/reward is 1:2
We are in a decent sized range on the hourly, a break of resistance along with the formation of support on lower timeframes can lead to price reaching the next resistance, it would be moving through a 35 pip clean range. However if we break support, we have a 30 pip range to fall through before tapping into the next support, however resistance needs to form first....
