I had a request from a friend to analyze USD/TRY: On daily perspective I saw a nice classical Elliot Wave with double zigzag till point E correction waves. Before starting the analyze I want you to eliminate the harmonic pattern that I draw there; First we start with trends and the potential of opening trade. PA (Price Action) creates trend and trends give us...
Google had an interesting triangle break out. Price is on Minor Orbit. Unfortunately I could not find any orbit above. But based on old candle chart we can expect a drop in future. There is a rule in trend price action; any jump from each trend has a reverse to its own trend until it breaks out the trend. Trend R 1 is already broke out. Trend S1 is still valid...
As slowly we go on I bring up more technics on my perspective. I had an email from a friend he required me to explain more about orbit and its functions. Well, to be honest drawing orbits beside trend lines is my personal secret and idea. What are orbits and how we can use them in our perspective in order to reduce risk: I believe that price are turning around...
I will never recommend any one to sell in an upward trend. I personally would wait for price to come back in bottom trend line and Buy again if it does not break out. Patient is the key of success.
Patterns can be failed very unexpectedly. Patient is the key of success. Open your trad on a strong trend. Later I will explain about how to adjust SL and TP. I will also explain how to get reversal signal and have more confidence on your decision. It's all about Risk to Rewards. Get yourself mentally ready and deal for long term instead of amateurish...
We always keep ourselves into triangle position and open your position only right on the trend as you see. Each jump on trend has a reverse to its own trend till it breaks out. At this point in the end of triangle you should stay on your last buy position and wait for the break out to reach future expected price. Remember you will never start your deal in the...
Hello traders! What a day and week we have so far. With China effecting our markets, we've been on a crazy roller coaster, but we may be reaching the top! In my chart, I'm trying to address some structure that could effect the long term direction of this pair. The first green line, below the other green line is the top part of a tunnel that the pair...
The Gbp/Usd hourly chart is a resemblance to the daily chart but offers some short-term perspective for a long trade above 1.5540 On the daily chart the downtrend has stopped around 1.46, and we are going up again On the daily chart the 100 SMA is about to cross above the 200 SMA - a golden bullish sign Here, on this hourly chart we see a uptrend forming,...
Context Down down down...and a final pressing What i observe now, is not a major trend change. I rather expect a temporarily pullback to the black CL. It is in it self, just a natural movement of a pendulum swing. Why? See the (blue dotted) sine wave? It fullfilled its meaning. And from here a new move is born. Let's see: Swings sine wave has done it's job ...
Context: major DT intact blue Centerline allready reached & breached, with a potential shift in frequency Price Action massiv pressing, LH's & LL's The green SL (Sliding Parallel) could be a supporting line, as PA allready proved bevor. Nontheless, nothing that indicates a potential turn. Just watch and observe it. Peace!
Everything is in chart. If we see a pinbar create close to/in the green box at the bottom we go long with a tight 15 pip stoploss and 150pip take-profit.
A detailed description of scenario 1 (long breakout) To the left we have a former balance area , ie price was in equibilirium with a unfair high @1018ish and an unfair low @072ish , wich gives us a former fair value of @0869ish as we are recently trading/testing @ that former fair value , one might expect a rejection of that level , which can be seen as...
Reentry and Sell GBPUSD with a SL just above first support.RR is 4:1.Move SL to Entry as price moves down.Exit right before support.Trailing stop is recommended.