In a bigger term, the price is consolidating, and reached the top line and got rejected. We are expecting a down movement.
EUR/USD have tried to violate the zone for twice, after completing AB=CD. It may try three or just keep going down. So, we should wait for a valid breakout.
It feels like a drop is coming, as there is no much volume and the price is slowly increasing. But I know, the market doesn't care about my feeling. So, let's wait for a conformation.
Silver has just completed 5 waves of Elliott. So, do we expect a correction?
My previous HK33 analysis was on point. We hit two targets. Now a questions is whether it will continue to go down or increase? It currently has broken the 2016 trend-line. Meaning is that it is likely to proceed. In this case we have to wait for a throwback. If it goes above the trend-line, which will turn into a fake breakout, as it hasn't broken the support...
Wall mart price broke the ascending triangle pattern. We are looking for a retest.
The price can't get any higher, and broke the initial trend-line.
After a breakout, a doji candle has appeared. So, we know what it means.
Apparently, market is the constant auctioning to find the most appropriate price of a particular product. Meaning is that if buyers side wins, the price will jump, and when it reaches the climax, it will retrace back. But the confusing thing was when it retraces back, where will it come back? To find it, I normally use a Fibonacci. But how do we know whether it...
Volume profile provides us an extremely important information, such as where to enter, exit, putting stop loss if we use it correctly. High volume areas act as a support and resistance. Once high volume areas are violated, price jumps or diminish. Low volume areas are safe zone or we can place stop loss or we can enter and ride the wave, as we believe that it is a...
In my previous analysis, I made a mistake - by believing that it will increase. But as now I can see that in my volume profile, there are no volume coming. So, potentially I could've opened a short position and place a stop loss at the low volume area. Also, now I can see a well-defined trading range - which is useful to buy low and sell high - or like versa.