Taking a look at the 4H timeframe chart, we can witness the beauty of price action. Accumulation+Distribution phases, a massive descending channel and many other details. Mr. Wyckoff was not the only person enjoying this incredible art. Any individual that is a fan of naked trading and of monitoring the price decline/grow gradually, will spot...
As it can be clearly observed from the 3H timeframe graph, after breaking out of the ascending channel illustrated on the chart, the price has managed to re-test the area of the 0.618 Fibonacci retracement level and complete the break+retest pattern. At the moment, the price is trading within the borders of the rectangular range portrayed on the graph....
As it can be observed from the 3h timeframe graph, the price is currently sitting on a previous zone of resistance which now acts as an area of support. We can identify several attempts of the price trying to break below this level but failing and leaving long wick candles. This gives us confidence that a potential bottom has been formed and the price is preparing...
As it can be inferred from the 3h timeframe graph, after ranging within the borders of the sideways-moving range illustrated on the chart, the price has spiked above the upper boundary of it and rejected the area of previous support which now acts as a resistance that lines up with the 0.382 Fibonacci retracement level. From here, we are closely monitoring the...
As it can be observed from the 2H timeframe graph of EUR/GBP, an ascending channel has been formed and the price has rejected the upper boundary of it. Currently, we can witness how the recent candle has closed below the local area of support and is now re-testing the same zone. From here, we are closely monitoring the price development and waiting for short...
As mentioned several times before, we risk 1% of our total trading capital per transaction. In simple terms, we risk 1 egg out of the 100 that we have in the basket in an attempt to get more eggs. However, even though the average price mark where we place our Stop Loss is 30-60 pips away from the entry price, SL levels set differ from one trade to another, and...
As it can be observed from the 8H timeframe chart, the price has rejected the 0.871 key area of resistance and started printing bearish moves. At the moment, we can notice how the price is rejecting the local area of resistance and possibly forming a top before continuing its bearish impulsive movements. All in all, we are expecting for the price to keep...
As it can be noticed from the 4h timeframe chart, the price has made a massive impulsive bullish move to the upside and has now approached a key level of resistance. After an impulsive move, a correctional leg should follow. Thus, we are patiently waiting for the price to form a valid top at the local key zone before charging up for a short-term bearish rally....
As it can be inferred from the H8 timeframe graph of USD/CHF, the price is currently re-testing an area of crucial support. After the boundary of the descending channel that is pictured on the graph was broken, we were closely monitoring the price action and expecting for the price to re-touch the current local area of support. Now that we can notice some...
Looking at the H8 timeframe chart of EUR/USD, it can be inferred how nicely the price is lining up. By using the simple "accumulation, manipulation, distribution" strategy, we will attempt to forecast the future price movement of this pair. With time and experience, it is relatively easy to spot familiar historical patterns. For example, the current price...
Looking at the recent price development, we may observe how the 0.99 area of support has been impulsively bounced off from. Plus, the 1.01 - 1.012 area of previous support which now acts as a level of resistance has not been re-tested yet. Therefore, considering the above-stated facts, we believe there is more room for the price to keep rising to the upside....
As it can be observed from the 8H timeframe chart, the price has rejected the area of resistance plotted on the chart. Looking at the recent price development, we can notice how a massive impulsive bullish run has taken place after the breakout of the descending channel portrayed on the graph. Currently, it can be inferred that the price is headed towards the...
After rising for quite a while, the price has finally reached an important area of resistance. Looking at the historical price action, we can observe how a nice double top was formed earlier in July of this year before a bearish rally happened. Paying a close attention to the current price development, we can infer that there is a high possibility for another...
Setup #1 : EUR/GBP As we can notice from the graph, the price has had a massive bullish run to the upside. We also know that after an impulsive move, a correctional one is needed. At the moment, the price is forming a top at the area of resistance that is illustrated on the chart before charging up for bearish moves. A double top pattern has been formed, which...
The sentiment of EURUSD remains bearish, and hence, we are looking for short positions. At the moment, we can observe how a massive bullish candle is attempting to break above the sideways-moving mini-range. We believe that the purpose of this move is to grab liquidity above the local zone before dumping all the way down till the zone indicated on the chart and...
As it can be inferred from the graph, the price is currently correcting the impulsive move that took place last week and approaching the 50% Fibonacci retracement level. From there, we will monitor the price action and expect for the price to keep rising and reach the area of resistance plotted on the chart.
Happy new trading week, friends! As you can tell the text above is a satire. However, unironically some of us still make the mistakes above that take you from Hero to Zero. What are the most common mistakes we can avoid in our trading journey? Let's take a look. 1. Taking revenge or jumping into the market because you think you found the trade of your life is the...
As it can be inferred from the 8H timeframe chart, the price has formed a double bottom pattern on a strong level of support. Considering the fact that after an impulsive move, a correctional one is needed, we are expecting for the price to keep rising and reach the area of the STF LL as plotted on the graph to compensate for the massive bearish drop that has occurred.