I thought I would do a quick video and give a bare bones overview of the basic concept of supply and demand.
Personally, I've stopped using indicators other than a few moving averages and simply started to look for supply and demand zones and a few bullish and bearish candle patterns. oh... and i'm a fan of using trendline breaks and measured moves.
Previously from 3 oct 2018 to 13 Nov 2018 the JPYUSD completed a cypher and entered in formation of gartley now B to C leg is likely to
be completed and it is getting ready to format the last leg of gartley C to D insha Allah.
Atif Akbar (moon333)
si è formato un gartley sulla coppia JPYUSD su H1
Purtroppo l' ho pubblicato in ritardo e ci si siamo persi un po di movimento in profitto..meglio poco che niente ...comunque puntiamo al secondo target del 61.8
STOP LOSS est.1.13 fibonacci
On the 60 minute chart with JPY - USD. Now my indications are telling me we may have a long on our hands with it being in the oversold area. Good previous bounce action on our channel support line. Were will wait for candle stick signal to enter this trade!
I will keep everyone updated as to what happens! Please comment your thoughts as ...
JPY is moving in a nice range for the last while, which means we're going to trade mean reversion. I've learned that RSI, Stochastic and other overbought/sold indicators are more useful for this than trend trading, so we'll rely heavily on them for this type of setup.
- JPY is right at the top of the trading range, being clearly rejected with fat bearish candle ...