Hey traders! Giving a quick insight lesson into using the Fibonacci tool correctly (whats is drawn isn't accurate of a trade I have taken it's just to show). I use it, as an added confluence to my set-ups to show me, entries, stop losses and target. For me, I am a swing trader, so when calculating my SL, I put it about 10 pips above the next level, depending on...
We finally got this third touch of the high daily down trendline! Waiting for the bounce before taking the trade, excited to see what's next for this pair, but if we push lower, this has great potential for a long term trade. Unfortunately, I missed the big spike on CAD/JPY but capitalised on the week Japanese Yen on other pairs. If you haven't already noticed,...
One of my favourite plays for next week! I am looking to play the expanding pattern to the edge of the pattern and to potentially go further to the ray line. Clear targets with clear stop-loss price points here, simple set-up.
I am expecting a drop on this pair, especially being close to the double top area forming a clear reversal pattern. I will be watching to see for the price to move to the double top for the sell. We also have a mini double top beforehand that would also provide value for the sell.
The first thing we need to make clear is that we are aware we can push higher from here but it is also important to note that we don't have to and can fall heavily from the current price. I will be looking for a risk entry on this current first flag that it below the previous correction, using the 15m to filter the 1h structure.
We have now seen a break of the double bottom formation and are heading towards the outer structure before the longterm buy opportunity. I will either be waiting for the first impulse then correction above the previous double bottom, or wait until the price reached he outer structure which would be the better R/R entry.
Last week, we had a really strong weekly close, not being too put off by this we see retraces a lot after these strong pushes. We may either see a retrace in the current area or we go a little higher and retrace off the double top or we go o the outer structure. Regardless, nothing major has changed as of last week, I will be looking to see how price heads...
We are approaching a very high-value area, with structure lows to take a long-term trade here. I do think we may push lower before this big move, I am watching for a clear pattern to indicate this, before getting in on the long. There will be lots and lots of opportunities along the way so be patient.
Watching to see how the double top plays out, will potentially look to short around this area, depending on how we get there, with the bottom ray line as a clear profit target. I will be waiting to see more price action, but it's looking that we will be starting to create a larger channel as we move towards this value area.
Not a pair I trade very often but love the current set-ups on a few NOK pairs. Took this short off the bounce of the double top, could see a big downside, but as posted on the DXY will be watching how USD pairs play out so SL is now at breakeven, happy to take that rather than a loss. If we do see a big pullback then I will simply look for a better entry.
I think we will see one more push to the downside, but long-term this will be great and if we reach that double bottom area, then even better!
Looking for a short term sell on BTC. This will be if we continue to slowly correct to the upside, I will watch to see how we react to the double top before taking any trades, Also, my position entries shown on charts aren't exactly where I enter, so don't use this as a signal to take a trade without doing your own analysis, I use these as a guideline for...
I can see a big trade coming on gold soon, regardless of whether we keep correcting up. I will be looking to take a risk entry at the first double top point, or if we impulse above then I will play off the other higher level. More than happy to ake a few break evens here or even a 0.5-1% loss with the potential downside being much bigger. Always look at the...
After seeing a big close on the weekly, I'm not seeing this too much as likely to push above the first target area, in the past week have seen, strong weekly closes, consolidation before falling back down again. Currently seeing a larger expanding formation, which either way is inline for a sell-off. With that being said there is still a possibility for a retest...
Waiting to see if we can break the current rend impulsively, watching carefully of the previous lows, could even see a double bottom on the daily chart.