Technically, NZDUSD printed a long engulfing daily candle off the major support. Here is my trade plan:
Sell cmp at 0.7255
Stop loss level 0.7330
Take profit level 6920
Risk of Equity: 3%
I'm just practicing my price action skill on USD/AUD Chart you do not have to follow this trade, but as you can see on the chart we are in buyer's territory in overall seller territory and we are forming a channel, from gauging the buyers momentum , we can see the buyers is already fading out and waiting for its last push to the top of the channel where we can see...
Although it is the 15 minute chart, and considered a very small time frame, these kind of setups are profitable.
The end of the price consolidation as seen above will be signaled by a break of the trendline.
Price is in uptrend. Now on correction period. Sit on your hand until price come 0.9950 support level. Here also fibo 50% get attached. Wait for a PA signal on that zone.
Happy Trading...!
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$USDJPY formed a bullish flag after a strong trend. Now it is correction period. Sit on your hand until the bullish flag break. There is a good opportunity to resume the trend from fibo 38.2% or 50% level.
Happy Trading...!
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Once again we have price making contact with the support trendline of the channel as seen above.
I am waiting for a bullish candle on the daily TF to confirm my long position.
Blue arrow shows approximate target, slightly lower than 1.3581.
This is a study of AUD/USD price action from a novice forex trader's perspective just shy of 2 years live fx trading
The aim of this study is for me to get better at the following:
identifying "key" support and resistance levels
identify good trade setups based off of my analysis of these support and resistance levels
better understand the currency pair's...
So here is an XAUUSD update
The short position is still holding, and with a strengthening dollar price should hit the target within 6-8 weeks.
Happy Shorting
GBPUSD going to test 1.2860 resistance zone. Looking for a price action sell signal on that zone. Next support level is 1.2330 & 1.20
Happy Trading...!
This is an excellent example of price action. Price broke 0.7460 support zone and after that just retest new resistance few days ago. New resistance is also nearby of Fibonacci 50% level. In the retest time price prints a bearish pinbar. We can see long time sell on this pair in the coming days.
Happy Trading...!
We just put in a double top on the daily bar at 79. We are also at the top of the range inside a daily supply zone. Looking for price to explode to the downside.
On the GBPJPY we are waiting patiently for price action to confirm the downside momentum as we await the UK open.
So far so good we are just waiting for a new low at 133.4.
AUDUSD has nice confluence of multiple timeframe zones with the Weekly and Daily timeframes and a good second pullback to the supply zone. The other nice thing about this is the trendline to the downside.
UK EU Referendum (Brexit) vs Scottish UK Referendum Price Action Forecast:
- We will use the difference in ATR and volatility between the 3-day run up into UK EU Referendum (UER) and the Scottish UK Referendum (SUR) in order to forecast what we expect price action to show on the 22nd, 23rd and 24th.
2014 SUR 3-DAY EVENT (17,18.19)
1. 1-Period ATR for the...
