About meTech guy committed to learning forex trading. I'm very much still learning but I publish my trades and ideas here as a kind of trading journal for myself, but hopefully other might also find them beneficial. Feel free to get in touch or provide feedback.
Following yesterday's nice big Bullish Engulfing signal on the D1 chart, price has broken out of the recent consolidation channel and has retested resistance as support, giving us a better risk/reward entry and with some added confirmation that price is definitely moving upwards. ...
Price has broken above the wedge, but is rejecting the upper channel, and is only 40 pips short of touching the multi month channel which started in August 2015.
Rejection of upper wedge channel
Rejection of upper multi month channel
Rejection of Fib 38.8% retracement level
Rejection of previous S/R level
I've been watching the rally in gold and silver recently, and it's finally looking like the bull's are out of steam.
Fib 38% retracement
1207.3 is a previous support/resistance area
Price has broken below 4hr trend line support and retested as resistance
Apex with downwards trend
Stoch has crossed ...
Correction on USDJPY is showing signs of weakening.
We have a higher high and price broke further above the top of the channel, producing a small daily rejection signal, but small compared to yesterdays Bullish Engulfing signal.
Price will likely head lower, either to the mid-channel or possibly to support at ...
After a great bull run, EURJPY has consolidated and retraced back to between the FIb 23-38% levels, and appears to have found support at the previous SR level of 121, where a Bullish Engulfing signal has formed, breaking the 4hr sideways trend line. This is also the 50EMA.
Stoch has crossed up above the 20 ...
Gold is at the fib 38% retracement level and could be about to move lower again. That said, recent bulls action has been looking strong, so we need to get a clear price action signal before entering short. There was some small rejection of the Fib38% level on 12/01 but it was by no means compelling - more of a ...
USDCAD is at a very key level. On 12/1 Price broke below the long term trendline support, creating a long tailed bar but closing below. There was a small bearish retest of the trendline on 13/1, but found support at the 1.31 level which previously acted as S/R on 19/10 and 12/12 too.
Price is now below the trend ...
A nice bullish piercing signal formed at fib 76% level.
Stoch is oversold
Need price to break above the 1h trendline resistance to go Long.
I expect price to hit resistance at 0.9650, before heading lower.
Looks like an Head & Shoulders formation is almost complete. I'm waiting for price to breakout below the neckline to go short.
Short entry on break of the recent low candles @ 0.7067
SL above trendline resistance @ 0.7124
TP at horizontal support @ 0.6950
We have a nice bearish signal at a good level. A bearish signal with a gap down has formed at the 50% fib level of the previous down move. Pair has been in a down trend, so I are trading with the overall trend.
This level has also acted as previous support and resistance, creating a good level to short from.
Morning star has formed signalling a strong change in sentiment. Price has broken the near term trenline (blue) and there should be some upside here to at least 1.25 or possible 1.26.
Technically we are still in a downtrend and traders are going to be nervous about going long. Any negative GBP news could cause ...
Pair has broken below the ascending consolidation channel on the 4hr chart and has retested the lower channel support as resistance.
Pair is in a downtrend and has just rejected the daily 21EMA - usually a good signal for price to move lower. Seem's a bit quiet at the moment.
I've set an order entry below the ...
AUDJPY is looking ripe for some downside. Price has reached the top of a multi-year channel and is showing signs of rejection. Last week an evening star formed followed by a brief sell off, but bulls managed to jump back in hoping for a continuation. To be honest, the evening star signal was a little bit too ...
Pair is now touching the upper multi year channel which started in late 2014. This will be it's sixth touch in 2 years. Every other occasion has lead to massive downside.
That said, I do feel as though this channel may break soon, perhaps rebounding off 78.46 and retesting the upper channel. That remains to be ...