Hello all - DuncanForex here with another trade idea
Last night - a higher low was printed on the 1 hour chart- which based on the 7am BST bullish pin bar candle will now start to cycle higher again.
Along with USDJPY to head far lower, with the retracement trendline break out, I do expect GOLD to get up to the 1450 area in the coming week
This move will be...
Hello all - DuncanForex here with another trade idea
FOllowing the daily short trade I took last week, I am now entering on the 1hr chart on a pullback.
Dynamic trend line providing resistance - I expect this to now drop a lot lower.
Trade safe as this idea, along with all my others recently are all USD correlated.
Thanks for looking at my trade idea
Duncan
Trade Identification
How many times have you "Missed" a trade. Once traders have a trading plan, they spend their time looking for set-ups. I would urge to take the next step which is Trade identification. I am not talking about clicking on a chart and seeing if your set-up is there. You want to be able to look and a chart and project what it can do and determine...
BACK TESTING CONT.:
Picking up from my last Educational post, Segment A...
Pip Potential (PP) is a key component for me as it allows me to statistically determine how far a trade will run. In all my trades, I want, at the very least, a 3-1 risk to reward ratio (RRR). Basically I want to make $3 for every $1 I risk. Please understand and, this is very important...
BACK TESTING:
Some traders find it helpful other do not.
Back-testing is, imho, the most critical part of trading
Back-testing the proper way, although arduous, provides incredibly valuable data. It is the Ditch digging of trading but well worth it.
I have come to embrace back testing and reviewing my trades religiously and in this day and age of automation, I...
Good morning traders.
This is my price action analysis on Usoil 4 hr chart for a possible long trend continuation entry. Currently price is consolidating around August 2018 low swing point. I had expected some overhead resistance at this level so i will be watching and waiting for price to reach my structure circle and provide me with an entry candlestick...
OANDA:CHFJPY
For the moment they are from this pair of currencies where the indicators and strands of the butterfly and the wave of elliot have reached the end of the control received by the sellers but it remains only to see how will close the last candle and look at the Asia exchange that will open for a little ore
This is an active trade i have going on. I think that this pair may push up to higher highs pretty soon as long as price pushes out of this triangle shape that it seems to be respecting. The reason why I am expecting this pair to push up is because this pair has had a TK bullish cross on the 1hr level as well as the 4hr level. My entry was at 6.0639, three periods...
The market has been very choppy lately with lots uncertainty. The qqq was unable to make new highs on the previous move up. although this may be true, we can still see a potential trade to the upside with a reasonable stop loss below. The qqq has pulled back to the 61.8 Fibonacci retracement level. also it has some support which was respected twice last week. For...
Here is my analysis for AUD/CAD. If you are a swing trader, you can use this as a guide, but I here are my forecasts of where price could probably go. Chart has been attributed with a good visual representation of levels of support and resistance, market sentiment and overall movement of where price could be headed. The doji formed at the "bounce or fall level...
I analyzed this chart with the intention of helping you see the bigger picture of where the overall currency pair is heading.
The Euro looks like its in a uptrend but it also could be in turn for a downtrend. In my educated opinion, I think the currency pair holds strong bullish sentiment and is riding to some higher highs unless some economic events unravel...
Horizontal lines are set at basic support and resistance levels. Colors represent the past and future battles between Bulls and the Bears. Will the Bulls push pass resistance at 1.05? I think they have a high probability due to a strong Resistance 0.90. The Bulls have some great momentum. Keep an eye out for this battle of the greats. Good luck trader.
The chart is comprised of a high tops & to low bottom analysis. I picked support and resistance levels from historic points to determine profit levels. Think visually and find the base of the triangle. This is where you want to be. Last but not least, you have a significant risk/reward ratio. Good luck trader.
Price is testing, the 27.2% (Horizontal Blue line) of the Historical Monthly fibonacci, which has been a hard level to hit, once price corfirm above that level and break the down counter trend line, we can expect a bullish move to the next Fibonacci level 38.2 for a 400 pips 1st target, if it goes down, it could re-test the 1.095 price level to get the force to...
On daily, we are looking for a new down trend, a good confirmation is if price can re-test back levels forming an important lower high bellow the highest high at the Monthly 61,8% fibonacci.
Our short term preferences are long to that level, We could take short term on 4H y 1H long positions on Dips, According to H1 up trend
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