As it can be inferred from the H4-timeframe chart, the price has nicely rejected the local area of resistance highlighted on the graph. From here, we are expecting for the price to drop all the way down till the level of support (Weekly TF Higher Low) pictured on the graphic.
Judging by the recent price development, some sort of an ascending triangle has been formed and the price is currently attempting to reject the upper boundary of it. If we get to see a short-term drop and re-touch of the highlighted ascending diagonal area aligning with the 61.8% Fibonacci retracement level, we might consider entering long positions and targeting...
As it can be inferred from the Weekly Timeframe chart, the price is on the verge of approaching the ALL-TIME HIGH levels highlighted on the graphic. Looking at the recent price development, we might observe that a rising wedge pattern has been formed, the bullish breakout of which we are awaiting for further upside move. A mini-support has been formed at the...
First of all, let us clarify, that what we mean by a "bad trade" is simply a transaction that was unsuccessful . There are no "good" or "bad" trades as the whole system of trading is random and unpredictable. In other words, if we knew how to differentiate between bad and good trades, then technically, we would always choose to enter good trades, right? Or should...
As it can clearly be inferred from the DAILY timeframe graph of GBP/USD, the price is approaching a major level of resistance that it can possibly reject. We will keep monitoring the price development around that zone and enter short positions upon confirmations.
As it can be inferred from the DAILY timeframe graph of EUR/GBP, initially, the price has heavily bounced off the 0.872 area of support and made its way to the upside. Afterwards, we witnessed the ability of the price to break above the 0.877 - 0.878 key region and massively impulse to the upside. Then, we witnessed a correctional phase as the price pulled back...
Both technically and fundamentally, the sentiment of USD/CHF is leaning towards bears. As it can be inferred from the recent price action, a crucial area of resistance lining up with the 50% Fibonacci retracement level has been rejected, which implies that a new bearish wave might be around the corner. Thus, we are closely monitoring the price action and looking...
Looking at the Daily timeframe graph on the left-hand side of the screen, we may observe how the price has nicely rejected a crucial area of support highlighted on the chart by printing a huge wick candle the tail of which has bounced off the 61.8% Fibonacci retracement level drawn from the beginning of the recent impulse. Zooming in and observing H16, H8, and H4...
As it can be inferred from the graph, the price has formed a nice descending channel pattern and is on the verge of breaking the lower boundary of it. If a breakout happens, we will see an impulsive drop. However, we are expecting for a one more re-touch of the descending trendline of the triangle before a full-scale “jump off the cliff” mission can be commenced.
Last week, when the price was sitting around the 1.202 - 1.204 zone, we executed long positions and aimed for the current level of crucial resistance. Now that a decent double top pattern has been formed, we are expecting for a deep bearish leg and liquidity grab before the uptrend may resume. We are aiming towards entering short positions upon further price...
Hey there, traders. One of the common tools we use for technical analysis are Fib retracements and a lot of you been asking on how to use them properly. Well, today is your lucky day :) Fibonacci Retracement is a technical analysis tool that is widely used by traders to identify potential levels of support and resistance in financial markets, including forex...
As it can be illustrated on higher-timeframe graphs, the price has successfully broken out of the wedge plotted on the chart and is now on the verge of re-testing the penetrated structure before POTENTIALLY continuing its bullish movements. We are awaiting for a possible dip below the current support before going long and aiming for the target pictured on the graphic.
Undoubtedly, after an impulsive leg, a correctional one is needed. Analysing the HTF view of USD/CHF, we may observe that the price has experienced a massive drop and it needs some rest before POTENTIALLY dropping even deeper. Therefore, we are eyeing the zone of support illustrated on the graph for entering short-term long positions and aiming for the 50%...
Firstly, let's take a look at the Weekly timeframe graph as illustrated on the left-hand side of the screen. We may observe that the price has been consecutively printing massive bullish candles after having rejected a crucial level of support (1802 - 1810) highlighted on the graphic. Zooming into the Daily timeframe chart, it can be inferred that the price has...
The price has successfully rejected the ascending trendline plotted on the graph that lines up with a key area of support and is now impulsive to the upside. Due to the fact that a valid bottom pattern has not been fully formed yet, we would expect for the price to re-touch the entry zone highlighted on the chart once again before initiating a full-scale bullish launch.
Looking at the 2D timeframe chart of USD/CAD, we may observe that a descending triangle pattern has been formed and that the price has successfully broken the upper boundary (the descending trendline) of it. Using the Fibonacci retracement tool, we might identify that the 38.2% key Fibonacci level nicely lines up with a crucial area of previous resistance that now...
We have mentioned it in a list of our previous educational posts and we will state it again: your risk-reward plan is much more important than your win rate. You can have a 90% win rate and still be losing in the long-run. On the contrary, you only need a 35% win rate to be a consistently profitable trader on the longer term. Beginners mainly focus on winning as...
As it can be identified from the higher-timeframe graphs, the price has formed some sort of a triple top, which is a sign of incapability of a bullish break. From here, we are expecting for the price to perform a solid, potentially a 100-pip drop and reach the level identified on the graph (area of the previous Higher High that lines up with the 50% Fibonacci...