FOLLOW THE TREND AS IT CHANGES
Long-term chart (W) Trading chart (D)
First trade (undocumented) - The (W) was in uptrend. looked to (D) chart to take a LNG on price entering the DZ (demand zone) it was untested DZ
from the longer term (W) chart.
price entered the DZ & broke through it even closed below it. my STP was triggered & I took my loss
My last post i went on to explain the importance of knowing what is happening with the dollar against trading it against other pairs.
Here with GBPUSD you can see the pair was very bearish for some time and during that time DXY was pushing up as the dollar was getting stronger. So when i was looking at this pair over the weekend i identified this purple zone of...
Buying opportunity, appears to be a continuation to the upside for the continuation of our uptrend. Earlier entry was missed, however, this entry was made on a smaller timeframe, presenting an opportunity. Stay safe people.
Relatively good sized trade I've picked up on this afternoon. Theres a couple resistance levels to take note of, the first one will be a retest before the price drops.
This would not be an active trade until that resistance line is retested.
Potential profit levels marked. Simple trend analysis trade.
Look for a breakout on AUDUSD to sell to the downside.
The correction can still push higher to around the 618 fib level.
If we break wait for confirmation and sell according to your own strategy.
We're looking for a sell that will break to the downside.
So sell this at the top wouldnt be a bad idea.
It can still push higher and if it does it'll be better for us.
Look for the sell and trade according to your own strategy.
Trade with care and manage money well.
As traders what we want to know is if we have hit the bottom or if we are going up, or are we going to fall some more. On the post I did on the 22nd I told you we were going to fall in a matter of hours and we did. Check this out, there are 3 keep spots we need to keep an eye on to see if we are going up or down. I know the answer but I would like to hear from...
While it's always possible that this breaks up, the likelihood of a breakdown on this bear flag is high. The intensity of the initial legs down warrant further price action to the downside.
I think a better entry can still be had closer to the top of the triangle pattern, somewhere around 4540. Obviously all eyes will be on whether or not 4k holds when it gets...