start at the current price and then like connecting boxes Resistance(=R) will be easily apparent, if Momo takes over for the bulls in this down trend the R's are its target when the bulls hit that target they will pull back and head to the next R. *note** if you cant find it on the current chart then go back in time to find the R, the markets remember the where...
What you believe will happen WILL be tested so that's why you need to ask your self these questions #1 Many things can come your way to make you doubt the validity of your trade and the direction of the Market in your analysis, (peoples Ideas, a certain spike of volatility) how many times have you got out of a trade brake even because of you questioned your...
To find the B in a trend we start from the lowest low to the next highest high. as long as the candles DONT pass the A we are still in a trend, and i don't ever recommenced trading against the trend. *** notice that the C will be found in between the A-B boundary this is 90+ % of the time.. if its not found there its normally due to a fundamental...
A price swing starts with a High the moves down to the letter b the A-B are typically the strongest points of resistance and support In a down trend if the C breaks the A then the trend is over. this A-B-C-D is how the market swings continually Please look at up trend.
Past resistance turns into future support you can see that the past resistance is future support and this will be key in fining out at what point the market will turn around. as well as good entry points with little risk but great reward. Training Exercise: Past resistance become future support = find this on 3 charts of choice on a daily chart for 3 months.
**Highs are levels of resistance lows are levels of support gyazo.com In this game of bulls and bears, you will know who is in CONTROL of the market, this Is done by seeing if the bulls are making new highs and new lows. You will find that Highs and Lows are points of resistance and support, what happpens is the bulls and bears make that the target of the price...
*** a high of resistance is formed where there are 2 candles to the left and 2 candles to the right that are lower than the center wick high. gyazo.com (note) the 2 candles to the left and to the right dont need to fall sequentially, nor will it matter if its an up or down candle as long as its lower then the middle wick. you will find these formations at the...
just my thoughts on the USD and where its headed this coming month, but time will always tell.
this Looks like a good short if this doesn't pull back then pass on the trade. wait for confirmation and enter.
a clear inverted teacup finished now its time to drop comon OIL
Oil is starting to gain from a long term weakness, china seems to be pushing oil up and in return USD is taking the hit as US bonds are sold and commodities are taking their gains , as Canada is heavy on Oil and the economy runs on it we should see nice strength in the CAD/. Please post and like