Educational From tonight on, I'm going to post a journal regarding a Breakout and bounce entries that where possible during the day, to help new and pro traders to modify their strategies for better results. Basically a lot of rumors on the market, what is working or not. But guys, the main problem is not in the systems, or in a cover-up idea, but in the raw...
price is making a corrective structure. this structure could be the one we want in order to take the short and let it run. i think the must possible thing is that the structure keep developing today and it will be finished by the next week. but anyways it could break out today. so keep an eye on it and do not miss the break out, no matter if it breaks today...
AS YOU CAN SEE PRICE IS BEING BULLISH. SO, I AM LOOKING TO BUY THIS PAIR. PRICE IS MAKING AN ABCDE TRIANGLE, AND PRICE IS JUST AT THE 61%FIB LEVEL. ALSO, MACD IS SHOWING DIVERGENCE. SO I AM EXPECTING A BREAKOUT TO GO LONG. PRICE MIGHT BE DOING ANOTHER STRUCTURE RATHER AN ABCDE TRIANGLE, SO IF PRICE GOES DOWN, I WILL BE LOOKING FOR ANOTHER TRADE SET UP. WHAT...
Confluences: 1/ with the recent formed downtrend 2/ Broke TL + retest 3/ Tested the 130.000 weekly resistance 4/ Bounced of the 50% fib. 5/ high test, followed by inside bar set up, followed by another high test 6/ 50 & 60 EMA's bounce
the short term short position on the GBP/USD failed because of news coming out. But my other trade GBP/NZD took a lift because of that same news. This is a killer Confluences : 1/ with the trend 2/ Nice long legged doji 3/ testing support level 2.3 4/ bullish MACD divergence 5/ we are coming of a double bottom at 2.273
Drawn S/R on W1 very strong levels, Fib retrace shows 38.2% reversal occuring CCI Dropping. First target 23.6% - Second 0% - Stop on kumo support but will we test it at all? who knows :)
Last week We went in green for 40pips, however my position closed with a few pips loss after we broke the TL to the upside. Now we have a possible short set-up on the EUR/CAD: - pair is trending down and over the last few weeks it has been taking a breath. - on daily chart we can see a running double top formed at 1.377, looking for a short entry on...