Price was rejected at 1.84500. This is why 1.84500 is an extremely significant level of rejection:
1) This C level correlates precisely with the .382 retracement of the AB Impulse Leg
2) This level correlates precisely with the .618 retracement of the Impulse Leg
3) This level is a perfect retest of the broken Head and Shoulders Neckline.
4) This level is...
GBP/EUR is in an overall downtrend. Double top setup is in place. Price has retested neckline. Now price will probably consolidate considering that it is now hitting a key level. Ideal move: Price breaks key level and falls to the downside. I think the probability of price going to the upside is about 25% and price to the downside is about 75%.
Trading Journal...
Exponential Moving Average Strategy
(Trading Rules – Sell Trade)
Our exponential moving average strategy is comprised of two elements. The first degree to capture a new trend is to use two exponential moving averages as an entry filter.
By using one moving average with a longer period and one with a shorter period, we automate the strategy. This removes any form...
# Classic breakout and retest setup. Resistance popped and price came back to test as support and print a hammer (buy signal). If you switch to the daily time frame and look at the previous high its a long way to go, so with 163 pip reward the cost of opportunity of 30 pips sure is worth it!
# I have bought at market price 1.34834
# Stop loss 30 pips below the...
Been waiting for this move for more than a month now. Very ambitious move but I see no reason why it shouldn't happen with the technical analysis. 2000+ pips in this move if it plays out like this.
As always
PATIENCE - CONFIRMATION - ENTRY - PROFIT
Gold dropped down way further for a retracement than I thought it would. Analysis on it again I can see why with the daily trend line looking to be respected before any move to the upside.
PATIENCE - CONFIRMATION - ENTRY - PROFIT
We have been in a strong consolidation period for over a few weeks now with AUD/USD. We can see the market has potentially presented its hand on the market direction but do not rush into this trade. I will be looking for a retest of this consolidation area with a clear rejection and a rejection of the EMA's for a confirmed breakout and confirmed entry into a...
Looking for those that bought from the recent low to take profit outta fear of this week’s potential news. Seeing the break of the dominant trend line I’m looking for a retest of this trend line which lines up with a 38.2%-61.8% retracement for a long setup for a measured move just above to the next swing point zone and secondary trend line which lines up with a...
Looking to short EURJPY about 60 pips on a Trendline Break and Retest following a Fake out and now a 5th Tap on resistance. Looking to short to about the 122.744 Area/Zone
Right now we can see price breaking through the major daily support at 143,77.
As long as we close below this resistance, I'll be looking for short setups to the downside with T1: 142,5 T2: 141,4
The best entry would at retest of 143,77, where we can set thight SL's.
In the second scenario, if the price breaks back above 143.77, then I'll be expecting retest of...
After the latest BTC impulse move, it seems that ETH is consolidating at the 166 resistance. If it continues to consolidate like this, that's a sign of bullish continuation. However, for now, I am still expecting a small retracement in the short-term, as I think we've completed 3 impulse waves and are in the process of an ABC correction.
I've laddered into a...
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