Hi, guys, this analysis is for those who want to hold the position for long-term this strategy's name is BAMM (bat action magnet move ) when we predict a bat pattern on the chart we should wait for B leg breakdown and then enter the trade, in this case, I predicted one nice bat pattern on weekly chart NZD/USD and as you can see B leg breaks down and now we can...
At One time OIL was crashing and burning like a Meteoroid and This past number of months it has been recovering quite well it would suggest. However in the path of OIL recovery there lies a strong resistance of 74, which not only happens to be a crucial support but also a 61.8 golden ratio retracement of the pervious Monthly swing high. Refer to the image below...
Market maker trading strategy used to work out there was going to be a breakout in London after there was a hammer left at session change over. expecting a rise at 3pm on the 23rd due to fundamental analysis but also expect a reverseal in the New York session time. happy to hear any opinions, I'm only 16!
Pattern: Double Bottom DEFINITION of ‘Double Bottom’ A double bottom is a charting pattern used in technical analysis. It describes the drop of a stock or index, a rebound, another drop to the same or similar level as the original drop, and finally another rebound. The double bottom looks like the letter “W”. The twice-touched low is considered a support level.
Pattern: Support Level DEFINITION of ‘Support Level’ Support or support level refers to the price level below which, historically, a stock has had difficulty falling. It is the level at which buyers tend to enter the stock.
Pattern: Double Bottom DEFINITION of ‘Double Bottom’ A double bottom is a charting pattern used in technical analysis. It describes the drop of a stock or index, a rebound, another drop to the same or similar level as the original drop, and finally another rebound. The double bottom looks like the letter “W”. The twice-touched low is considered a support level.
Pattern: Triple Bottom DEFINITION of ‘Triple Bottom’ A triple bottom is a bullish chart pattern used in technical analysis that’s characterized by three equal lows followed by a breakout above resistance.
The triple bottom chart pattern typically follows a prolonged downtrend where bears are in control of the market. While the first bottom could simply be normal price movement, the second bottom is indicative of the bulls gaining momentum and preparing for a possible reversal. The third bottom indicates that there's strong support in place and bears may...
We are just a smidge under the 50MA on the 1Week. In the history of 50MA on 1 week we seem to have always not dropped below it, so I would assume this could be a major sell indicator for whales if we stay below it for too long. My RSI indicator of 46 we seems to be holding the line(when we see 45 below it might be time to sell) StochRSI is looking to swing up,...
Wooo. As a born counter-trend trader, I had already shorted this currency pair. Manage to get into this trade with other advance trading technique and may get pretty involved with this pair this week as I'm pretty bearish on the results of the US Fed Interest Rates. You may call this bias sentiment but once my analysis is done, I will follow my trade plan to the dot.
GBPUSD is still on a bearish run, good for us, it has finally had a significant retracement. Waiting for a shorting opportunity at the red zone.
Based on strucutre EURUSD still on a bullish run, however, not forgetting that it's also an opportunity for counter-trend traders to embark on a long journey on H1 as a potential head and shoulder move. This week will be interesting, and even possible profitable for trader who has follow through their trade plan.
Hello guys, it's me again! I want to share my perspective about the market today. I have some point to talk today. May be, it will be long for you, but i hope it will help you, here we go! note: -The red MA line is 50-MA -The green MA line is 55-MA -The gold MA line is 100-MA 1. Bull Market vs Bear Market in Weekly Time Frame The first point is i want to show...
Price Action: Bullish Pattern: Asymmetrical triangle + break of all EMA’s Long-Term Momentum: Bullish Short-Term: Bearish Bias: Long Action: After price tests trend resistance it will most likely bounce. Hopefully it will find support where daily resistance is now. Enter a longer term position here. Comments: Would like to see bullish momentum continue for next...
So, currently USDJPY is approaching its weekly resistance level, From this a potential short position: I will keep you guys updated as to how USDJPY reacts through out the week.
In line with the dollar strength we think this correction will continue untill the bottom of the uptrend channel is found..
SELL USDJPY Area: Pitchfork Upper Line (Resistance) Pitchfork Channel - Descending Entry: Pitchfork Upper Line (Resistance) Target Profit: Median Line Next Target Profit: Lower Line