Melchizedek

Melchizedek Updated 

Price is pointing to that "bird in the bush" just like a good hunting dog. Can you see it? Perhaps an additional chart of Support and Resistance will help... See it now? Happy New Year 2018! Don't say I never gave you anything!

Melchizedek Updated 

Looks like a quick move down for 1,000 pips!

Melchizedek Updated 

Already up 1,000 pips from the bottom, this trade is good for another 1200 pips, and if you like to push your winners, and scale in, you could still milk another $31,000 from it. Consider another viewpoint of this trade:

Melchizedek Updated 

Support and Resistance lines need not be Horizontal only. Neither need they be Parallel. The SIMPLEST way to demonstrate a relationship between TWO POINTS is to draw a straight line between them. Horizontal S&R Lines demonstrate common Highs and Lows, and Opens and Closes. This is meaningful because Price tends to respect these same lines again and...

Melchizedek Updated 

Follow the channel that is already established, as Price alone points to the end of the move.

Melchizedek Updated 

If you understand how to scale-into a Trade, by earning profits until you can buy another lot with those earned profits, then another and another, all from the beginning investment of 1 lot margin requirement, then you know how to milk everything you can from a trade. But it really helps to have a trade that lasts 30 to 90 days, and it really really helps if you...

Melchizedek Updated 

Note the long flagpole into this Flag pattern (channel) on the USDJPY. It is a good prediction of the same size impulse move out of the flag, in the same direction. I expect a breakout now, or one more move to the bottom of the channel, then a STOP RUN, and then an impulsive move up from the channel BOTTOM through the top of the channel in a continuation move. ...

Melchizedek

The EURUSD is at a top going back years. Examine all three of the points where it touched this top trend line, the first two were rejected outright with immediate down moves. This Third time the price action at the top is different. It is lingering and may breakout through the top, time will tell. Because of this topping price action, and the political...

Melchizedek

THE AUDNZD is trending at the TOP of the Channel and building a WALL. This portends a SHORT opportunity tpowards the Bottom of the Channel. Also, always watch for a breakout of the Channel to new high. Get a candle signal at the top before entering short!

Melchizedek

AT THE CHANNEL TOP, AUD JPY IS PRIMED FOR A SHORT SALE TO THE BOTTOM OF THE CHANNEL. REMEMBER to alwyas watch (at the channel top) for a possible breakout of Price to a new high. Look for the reversing pattern of candles!

Melchizedek Updated 

The GBPUSD is setup for an Impulsive Move DOWN to the next level of previous Support, possibly two. I have been trading this channel as it becomes more defined, and it is now at the TOP of the DOWN-Channel poised for another down move, probably an IMPULSIVE MOVE as it has been so far as Price approaches the top of the down-trend. I watch this area closely for a...

Melchizedek Updated 

THIS IS JUST A TEST FOR MY FIRST ATTEMPT AT PUBLISHING AN IDEA. It does include a DAILY Trend Channel, which is a valuable tool for assessing market structure, simple to create and effective at clarifying price direction over time; it is often the best way to begin Price Analysis. I DO NOT give trading advice, but share my ideas and my own trades just for fun...

Melchizedek Updated 

IMPULSIVE MOVES: Catching those FAST MOVING Price moves can be challenging, but there is an easy way to see them coming. FIRST: Check the Monthly, Weekly and Daily charts for TRENDS and draw bracketing lines, parallel if possible, on both sides of the major price action which leads into the current Price. Always paying most attention to WHERE the current...