The current price action shows us a (short term) exhaustion on crude oil, that could be the start of the yearly top. Buy low, sell high is a lucrative business and this is worth the shot once triggered. The chart is clean and that's the only way to see what the price is telling us. But as price action trader I always look at the lower timeframe...
The current price action shows us a potential (short term) bottom on crude oil. We can expect the price to test the prior horizontal structure if we can print a double bottom with a higher low. That would activate an intraday/swing buy with a healthy risk to reward. The break of the linear trendline would become an extra confirmation, but as price...
EURGBP is moving very strange and we can see it's in a triangle pattern on the current 4hour timeframe. From the weekly timeframe we can see this could be accepted as a lower high, let's say third tap.
Yet I don't like the current price action, it's not convincing. A triangle in an uptrend is normally bullish, so we will wait for a break either way....
USDCAD has met a long term linear resistance, the spike out of it will be ignored by me in this case. Right now I'm waiting for price action around 1.353 area what wil be the TL hit.
The given TP is the initial one, depending upon how the price reacts I might close it there or keep the shorts for some period.
Below you can find the 4HR...
It has been a while, but I have been active privately. From today on I will start to post some charts every now and then.
For now I have this long on the radar, advanced traders see why I would long this.
Hello fellow traders,
I've been asked many times why I'm bearish against the Euro. This question kept repeating, which made me share this beautifull chart with you. Most of you know me as a counter trend trader, but actually I'm trading the long term trend. This chart also shows you why I'm not interested in buying EURUSD here.
You can use this chart as an...